Amcomri also provides update on “The Frontier” and “Scrublands”

VANCOUVER, British Columbia, June 07, 2023 (GLOBE NEWSWIRE) -- Amcomri Entertainment Inc. (“Amcomri” or the “Company”) (NEO: AMEN) (OTC: AMNNF) (Frankfurt: 25YO), a global producer and distributor of independent movies, TV series and documentaries, today announced that its television and documentary subsidiary, Abacus Media Rights (“Abacus”), is providing funding and international distribution for the three-part docuseries, “Paid in Full: The Battle for Payback”. The project is a collaboration between Supercollider, Green Door Pictures and Pink Towel, and has been commissioned by CBC and the BBC. With the production connecting different eras in music history while highlighting racial inequality, the involvement of Amcomri Entertainment underscores a commitment to supporting impactful independent productions and addressing important issues within the industry.

“We are seeing ongoing strong demand for independent content, particularly on the TV side of our business,” said Robert Price, Chief Executive Officer of Amcomri. “Our subsidiary, Abacus Media Rights, continues to represent and invest in a diverse repertoire of TV productions. Its titles have garnered international recognition with nominations at prestigious award ceremonies such as the Irish Film & TV Awards, BAFTA TV Awards, RTS Awards and the True Crime Awards 2023. Notable productions such as “The Ghost of Richard Harris”, “The Masked Singer”, and “Mariupol: The People’s Story” have received international accolades, showcasing the exceptional quality and caliber of content represented by Amcomri Entertainment.”

In addition, Abacus secured pre-sales and sales for highly regarded titles such as “We Need to Talk About Kanye”, “The Frontier”, and “Scrublands”, ensuring broad distribution across European and North American markets. Abacus has also retained international sales distribution rights for the acclaimed series “Hope Street” and acquired global rights for the Emmy-nominated series “Legacy List with Matt Paxton”, expanding the global reach of Amcomri Entertainment’s extensive portfolio.

Amcomri also announced that the Company issued 500,000 restricted share units of the Company (the “RSUs”) to Robert Price, Chief Executive Officer of the Company pursuant to the Company’s omnibus equity incentive plan. The RSUs will vest in three equal installments on each of September 30, 2023, 2024 and 2025 and will entitle Mr. Price to acquire up to 500,000 common shares in the capital of Amcomri or the cash equivalent of such shares, once vested.

Forward-Looking Statements

This press release contains statements which constitute “forward-looking statements” and “forward-looking information” within the meaning of applicable securities laws (collectively, “forward-looking statements”), including statements regarding the revocation of the cease trade order, Company’s growth plans, the timing of release of the Company’s films and the plans, intentions, beliefs, and current expectations of the Company with respect to future business activities and operating performance. Forward-looking statements are often identified by the words “may”, “would”, “could”, “should”, “will”, “intend”, “plan”, “anticipate”, “believe”, “estimate”, “expect” or similar expressions.

Investors are cautioned that forward-looking statements are not based on historical facts but instead reflect the Company’s expectations, estimates or projections concerning future results or events based on the opinions, assumptions and estimates of management considered reasonable at the date the statements are made. Although the Company believes that the expectations reflected in such forward-looking statements are reasonable, such statements involve risks and uncertainties, and undue reliance should not be placed thereon, as unknown or unpredictable factors could have material adverse effects on future results, performance or achievements of the Company. Among the key factors that could cause actual results to differ materially from those projected in the forward-looking statements are the following: changes in general economic, business and political conditions, including changes in the financial markets; changes in applicable laws and regulations both locally and in foreign jurisdictions; compliance with extensive government regulation; the risks and uncertainties associated with foreign markets; and those risks and uncertainties that are described in the section entitled “Risk Factors” in the Company’s annual information form dated April 14, 2023, and available under the Company’s profile on SEDAR at www.sedar.com. These forward-looking statements may be affected by risks and uncertainties in the business of the Company and general market conditions, including COVID-19.

Should one or more of these risks or uncertainties materialize, or should assumptions underlying the forward-looking statements prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, believed, estimated or expected. Although the Company has attempted to identify important risks, uncertainties and factors which could cause actual results to differ materially, there may be others that cause results not to be as anticipated, estimated or intended and such changes could be material. All of the forward-looking statement contained in this press release are qualified by the foregoing cautionary statements, and there can be no guarantee that the results or developments that we anticipate will be realized or, even if substantially realized, that they will have the expected consequences or effects on our business, financial condition or results of operation. Unless otherwise noted or the context otherwise indicates, the forward-looking statements contained herein are provided as of the date hereof, and the Company does not intend, and does not assume any obligation, to update the forward-looking statements except as otherwise required by applicable law.

Investors are cautioned that, trading in the securities of the Company should be considered highly speculative. For a more detailed discussion such risks and uncertainties, please see the section entitled “Risk Factors” in the Company’s annual information form dated April 14, 2023, and available under the Company’s profile on SEDAR at www.sedar.com.

About Amcomri Entertainment Inc.

Amcomri Entertainment Inc. (NEO: AMEN) (Frankfurt: 25Y0) provides global distribution capabilities for independent movie, documentary and TV series producers as well as for its own in-house productions. With decades of experience across all key media platforms, Amcomri is rapidly becoming the go-to team for independent producers seeking the broadest possible audience for their productions. The Amcomri Entertainment Inc. group of companies includes 101 Films, 101 Films International, Hollywood Classics International, Amcomri Productions, Appreciated Media Global, Amcomri Productions and Abacus Media Rights.

For further information about Amcomri, see its disclosure documents on SEDAR at www.sedar.com or visit the company’s website at https://amcomrientertainmentinc.com/

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