TORONTO, ONTARIO and HONG KONG, CHINA -- (Marketwired) -- 08/29/14

Spackman Equities Group Inc. ("SEGI" or the "Company") (TSX VENTURE:SQG) today announced its financial results for the second quarter and the six months ended June 30, 2014.

For the second quarter ended June 30, 2014, revenue was $6.9 million and for the six months ended June 30, 2014, revenue was $10.0 million. The revenues for both the three and six month periods ended June 30, 2014, are records for the Company.

For the second quarter ended June 30, 2014, the Company recorded a loss of $894,000 or $0.006 per share and for the six months ended June 30, 2014, the Company recorded a loss of $1.6 million or $0.01 per share. After accounting for foreign exchange gains, the comprehensive loss for the second quarter ended June 30, 2014, was $210,000 or $0.001 per share and for the six months ended June 30, 2014, the comprehensive loss was $955,000 or $0.006 per share. The Company's subsidiaries, Zip Cinema Co., Ltd. and Opus Pictures Limited Liability Company, have a number of films under production, and the costs associated with the production of these films negatively impact the Company's earnings until the films are released. For the second quarter ended June 30, 2014, direct production costs were $6.2 million and for the six months ended June 30, 2014, direct production costs were $8.8 million.

At June 30, 2014, SEGI had $9.6 million, or $0.06 per share in cash or cash equivalents and marketable securities.

Commenting on the second quarter results, Charles Spackman, the Chairman and Chief Executive Officer of SEGI said, "I am very pleased with the resounding success of the listing of our subsidiary, Spackman Entertainment Group Limited, on the Catalist of the Singapore Exchange in July. The IPO financing was fully placed and raised gross proceeds of SGD 18.1 million (CAD $15.8 million) and the shares of SEGL have actively traded on the Catalist at a significant premium to the IPO price of SGD $0.26 (CAD $0.22) per share. The Company owns 39.1% of SEGL and based on the most recent closing price of SEGL's shares of SGD 0.40 (CAD $.35), the market value of the Company's stake in SEGL is SGD $61.8 million (CAD $53.8 million) or CAD $0.36 per SEGI share. The Company is exploring various options through which it can optimally reflect the value of its holdings in SEGL on the Company's share price for the benefit of shareholders, and to reduce or eliminate the discrepancy between the value of the Company's shares relative to the underlying value of its stake in SEGL".

The complete financial statements for the three and six months ended June 30, 2014, including Management's Discussion and Analysis of the results, are posted on SEGI's website, www.spackmanequities.com and are also available on SEDAR at www.sedar.com.

Selected Highlights of the Second Quarter and Subsequent Events

--  On May 13, 2014, UAA Korea Co., Ltd. repaid USD 1,019,159 (CAD
    $1,109,146) of convertible notes issued on January 17, 2014 with all
    accrued interest to the Company. 
    
--  On June 12, 2014, all shareholders of Spackman Entertainment Group
    Limited ("SEGHK"), including the Company, exchanged all of their shares
    of SEGHK for a corresponding number of new shares of Spackman
    Entertainment Group Pte. Ltd., a Singapore entity formed for the purpose
    of listing, as part of the restructuring exercise for the initial public
    offering in Singapore, resulting in SEGHK becoming a wholly-owned
    subsidiary of Spackman Entertainment Group Pte. Ltd. Prior to this share
    exchange, on April 25, 2014, SEGHK converted all its outstanding
    convertible notes in the amount of CAD $1,385,421 (USD 1,500,000) at the
    conversion price of USD 1,000 resulting in the issuance of 1,500 new
    common shares of SEGHK, and SEGHK closed another round of pre-IPO
    financing by raising a total of USD 4,596,288 (CAD $5,068,786) by way of
    a private placement to three investors by issuing 1,776 common shares at
    USD 2,588 per share.  
    
--  On June 24, 2014, Spackman Entertainment Group Pte. Ltd. changed its
    name to "Spackman Entertainment Group Limited" ("SEGL") as required by
    Singaporean regulations governing the conversion of a private company
    into a public company. 
    
--  On June 24, 2014, the Company appointed Alex Falconer as Chief Financial
    Officer. Mr. Falconer succeeds Kyoungwon Na who continues to serve as
    the Chief Financial Officer of SEGL. This restructuring of management
    was undertaken in advance of the planned listing of SEGL on the Catalyst
    of the Singapore Exchange to avoid any potential conflicts of interest
    between the Company and SEGL. 
    
--  On July 3, 2014, SEGHK changed its name to "Spackman Entertainment Group
    (HK) Limited" in order to avoid confusion with SEGL, its parent company.
    
--  On July 11, 2014, SEGL registered its Offer Document and launched its
    initial public offering ("IPO") in Singapore. 
    
--  On July 14, 2014, the Company announced that Anthony Wei Kit Wong, who
    was elected a director of the Company at the Annual General Meeting held
    June 12, 2014 and who is also a director of SEGL, had decided not to
    serve on the board of the Company to avoid any potential conflicts of
    interest between the Company and SEGL. The Company intends to appoint a
    new independent director in the near future. 
    
--  On July 18, 2014, the IPO placement was fully placed and closed, and
    SEGL sold 69,440,000 shares, comprised of 50,000,000 new shares and
    19,440,000 existing shares at SGD $0.26 (CAD $0.22) per share, raising
    gross proceeds of SGD 18.1 million (CAD $15.8 million). 
    
--  On July 22, 2014 the shares of SEGL commenced trading on the Catalist of
    the Singapore Exchange under the symbol "40E". The Company owns
    154,620,000 shares or 39.1% of SEGL. 
    
--  On July 30, 2014, the Company granted stock options to five directors of
    the Company to acquire up to an aggregate of 8,745,000 common shares of
    SEGI under the Company's stock option plan. The stock options are
    exercisable at a price of $0.135 per share and expire five years from
    the date of grant or earlier in accordance with the Plan. 

About Spackman Equities Group Inc.

SEGI is an investment holding company that invests into and develops small/medium-sized growth companies that possess industry-specific know-how or proprietary technologies, primarily in Asia. SEGI also makes investments in selected publicly-traded companies that SEGI believes are attractive investment propositions. The objectives of SEGI are to (i) invest into or acquire businesses with compelling growth potential at attractive valuations, (ii) build a diversified and balanced portfolio of investments, and (iii) deliver the collective value derived from the performance of its portfolio of investments to the shareholders of SEGI. SEGI's holdings include:

--  39.1% ownership of Singapore-incorporated Spackman Entertainment Group
    Limited, which is listed on the Catalist of the Singapore Exchange
    (ticker: 40E) and is a leading Korean film and entertainment company
    that wholly-owns Zip Cinema Co., Ltd., Opus Pictures Limited Liability
    Company, and Spackman Entertainment Korea Inc.; 
--  100% of SEGI Investments Limited, an investment company that invests
    into public equities; and 
--  marketable securities. 

Visit www.spackmanequities.com for further information.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Forward-Looking Statements

Included in this news release are matters that constitute "forward-looking" information within the meaning of Canadian securities law. Such forward-looking statements may be identified by words such as "plans", "proposes", "estimates", "intends", "expects", "believes", "may" or words of a similar nature. There can be no assurance that such statements will prove to be accurate. Actual results and future events could differ materially from such statements. Factors that could cause actual results to differ materially include among others, regulatory risks, risk inherent in foreign operations, commodity prices and competition. Most of these factors are outside the control of the Company. All subsequent forward-looking statements attributable to the Company or its agents are expressly qualified in their entirety by these cautionary comments. Except as otherwise required by applicable securities statutes or regulation, the Company expressly disclaims any intent or obligation to update publicly forward-looking information, whether as a result of new information, future events or otherwise.

Contacts:
Spackman Equities Group Inc.
Floria Lin
Investor Relations
+852 3902 3287
info@spackmanequities.com
www.spackmanequities.com