MONTREAL, Jan. 10 /CNW Telbec/ - Image in Media Inc. ("Image"), a growing
media group that finances, acquires and exploits television and filmed content
for the international market, announces today that it has signed a US$20
million co-production agreement for a 3D animation feature film entitled
"Monster Club the Movie" with China Film Animation Ltd. ("CFA"), and UK-based
producer Treehouse Film and Television Limited ("Treehouse") and that
production is planned to start in Q1 2006.
"Monster Club is an important milestone for Image," said Paul Allard,
President and CEO. "It is the starting point of a long term relationship with
CFA, our Chinese partner and it is our first major international co-production
that demonstrates the strength of our business model. This production has
generated strong interest from a major US distributor for theatre release."
"As we focus in building a catalogue of content for exploitation on the
international market, we have to collaborate with independent producers around
the world that share our vision," Allard said. "Monster Club is the first of a
series of productions supporting that plan."
The 90-minute film is based upon the successful UK comic created by Kit
Wallis, published by UK-based AP Comics Ltd. "The film idea was developed
after a leading US distributor contacted us to see if there was a chance of
developing the comic idea to film," said UK co-producer Phil Littler. "We were
already going along those lines so we followed them up by sending the
distributor a script, then things moved very quickly". The Production of the
film is planned to start in early 2006 and will be completed within 12 months.
Image announced on October 13, 2005 that it has agreed to be acquired by
Section Rouge Media Inc. (TSX Venture Exchange: SRO) ("Section Rouge").
Section Rouge is also currently proceeding with a private placement of common
shares to raise a minimum of $2.5 million and a maximum of $4 million with
Research Capital Corporation acting as the agent. It is expected that the
closing of the placement and the acquisition of Image will occur during the
first quarter of 2006.
About Image in Media Inc.
Image acquires, produces, and exploits television and film content for
the international market. The company also owns the International Program
Exchange for Television ("IPEXTV(TM)"), a unique digital platform used by
buyers and sellers of television programs around the world. IPEXTV(TM) is the
first phase of Image's Digital Exploitation Plan.
About Section Rouge Media Inc.
Section Rouge, a media company founded in October 2001, owns 30
publications with an annual circulation of over 4.8 million copies of weekly
newspapers and magazines. The acquisition plan of Section Rouge aims to
provide the company with a diversity of niches in order to guarantee its long-
range financial viability and its development capacity in the communications
sector.
About China Film Animation Ltd.
China Film Animation Ltd. is one of two media joint ventures established
by China Film Group Co. ("CFG"), the largest state film enterprise in China.
CFA is backed by all existing resources of CFG, which is involved in film
and television production, film distribution and exhibition, film importation
and exportation, cinema circuit management, digital cinema construction, the
CCTV-6 movie channel, print developing and processing, film equipment
management, digital film production, film and TV compact disc production,
ancillary products, advertising, property management and real estate. CFG
subsidiary China Film Co-production Corporation, is charged by China's top
media regulator, the State Administration of Radio Film and Television to
oversee and manage all international co-productions.
EAE Group Inc. ("EAE") is a media management enterprise based in Toronto,
that has worked with CFG since 2002 to establish CFA. EAE promotes the
development of original family oriented content for the Chinese and
international markets.
About Treehouse Film and Television Limited
Treehouse Film and Television Ltd was set up in 2004, by Phil Littler to
deal with the film rights of 'Monster Club the movie' along with other
projects. Treehouse specialises in the development and production of projects
from initial idea to final delivery and has always worked with international
partners. Phil Littler has been in the animation business as a Producer and
Director for 24 years.
The TSX Venture Exchange has in no way passed upon the merits of the
proposed transaction and has neither approved nor disapproved the
contents of this press release.
