Mr. Larry Howard reports

AMCOMRI ENTERTAINMENT ANNOUNCES CREDIT FACILITY

Amcomri Entertainment Inc. has entered into a loan agreement with Oranmore Ltd., pursuant to which the lender will provide a credit facility of up to $1.25-million (U.S.) to the company for working capital purposes.

Amounts drawn under the credit facility are repayable by the company at any time without penalty, and shall become due and payable on Jan. 31, 2024. The company and the lender have agreed that amounts drawn under the credit facility shall bear interest at a rate of 12.0 per cent per annum and shall be secured against the assets of the company. In consideration for the facilitation of the credit facility, the company has also agreed to pay the lender a one-time arrangement fee of $150,000 (U.S.).

The lender, Oranmore, is an entity beneficially owned and controlled by the company's chairman, Paul McGowan. The credit facility constitutes a related party transaction, as such term is defined in Multilateral Instrument 61-101 -- Protection of Minority Security Holders in Special Transactions (MI 61-101), because the lender is an entity beneficially owned and controlled by the company's chairman, Mr. McGowan.

In respect of the requirements of MI 61-101, Amcomri has relied on the exemptions from the formal valuation and minority approval requirements set forth in sections 5.5(a) and 5.7(1)(a) of MI 61-101, respectively, as neither the fair market value of the subject matter of, nor the fair market value of the consideration for facilitation of, the credit facility does not exceed 25 per cent of the market capitalization of Amcomri.

About Amcomri Entertainment Inc.

Amcomri Entertainment 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 group of companies includes 101 Films, 101 Films International, Hollywood Classics International, Appreciated Media Global, Amcomri Productions and Abacus Media Rights.