London, England (PRWEB) December 06, 2012
Superior Venture Corp. ("Superior" or “the Company”) (OTCQB:SVEN) through its wholly owned subsidiary Ilustrato Pictures Limited (“Ilustrato”), a Hong Kong company, is pleased to announce that three of the scripts represented at the China Canada Gateway For Film Competition have been picked up by leading Chinese film studios immediately following the Whistler Film Festival.
Ilustrato is a gold level sponsor and co-founder of the China Canada Gateway For Film Competition and immediately provided each winning project an offer of development financing with terms to be determined. Writer/producer teams from thirteen finalists offered scripts in a competition that saw over 100 initial entries.
One of the scripts was chosen to go directly to production prior to the close of the competition and therefore had to withdraw as an official entry. That script, by veteran screenwriter Guy Bennett, is being fast-tracked by the co-developers and could be completed within 12 months.
Two other scripts, Blush and Butterflies Tale, have been picked up for development by leading Chinese studios Galloping Horse Films and Wuxi Studios, respectively. There are as many as a total of nine development deals in negotiations as a result of the Gateway Competition and efforts at the Whistler Film Festival.
“The early indications from the film festival are very positive”, says Harry Sutherland, a director of Superior Venture Corp. and board member of the Whistler Festival. “The founders would have been happy with just one film deal emerging from the competition, so to see as many as nine projects on the table and three immediately in co-development is very rewarding.”
“We expect that our efforts will ultimately pay Ilustrato Pictures back many times over in the projects we can access and the relationships they will create with Chinese partners”, Sutherland adds.
A call for entries for the second annual China Canada Gateway for Film Competition will be announced in the spring of 2013. Ilustrato Pictures Limited intends to be a sponsor once again.
About Superior Venture Corp.
Superior Venture Corp. is a US based public company. Its wholly owned subsidiary, Ilustrato Pictures Limited is an international motion picture development and production company seeking to co-create feature film projects with Chinese film companies. All of its projects are financed, produced and distributed in partnership with domestic Chinese companies. Ilustrato Pictures has developed extensive infrastructure and distribution networks in China –the fastest growing and most dynamic movie market in the world.
For more information see http://www.superiorventurecorp.com
Tel: +44 (0) 207 543 7720
Cautionary Statement Regarding Forward-Looking Information
This press release may contain certain "forward-looking statements" relating to the business of Superior Venture Corp.. All statements, other than statements of historical fact included herein are "forward-looking statements" including statements regarding the advantages of Superior Venture’s products and services, anticipated advantages resulting from the merger, whether funding anticipated from completing the merger will result in successful completion and development of the film development component of the business and its market acceptance, the business strategy, plans and objectives of the Company and Ilustrato Pictures Ltd.; and any other statements of non-historical information. These forward-looking statements are often identified by the use of forward-looking terminology such as "believes," "expects", “intended” or similar expressions, involve known and unknown risks and uncertainties. Although the Company believes that the expectations reflected in these forward-looking statements are reasonable, they do involve assumptions, risks and uncertainties, and these expectations may prove to be incorrect. Investors should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The Company's actual results and ultimate corporate actions could differ materially from those anticipated in these forward-looking statements as a result of a variety of factors, including the perception of investors of the newly merged company and their willingness to fund this newly public company, the demand for films and film development, new products and services developed by other companies, market share garnered by competitors, ability to maintain customer and vendor relationships, and those factors discussed in the Company's periodic reports that are filed with the Securities and Exchange Commission and available on its website (http://www.sec.gov), among other factors. All forward-looking statements attributable to the Company or persons acting on its behalf are expressly qualified in their entirety by these factors. Other than as required under the securities laws, the Company does not assume a duty to update these forward-looking statements.