Business Editors
TORONTO----Devine
Entertainment
Corporation (CUB:DVNN, NASDAQ, OTCPK:DVNNF)) has completed a financing
for $382
,125 (all amounts in Canadian dollars) as of April 7, 2005
with the exercise of 2,547,500 previously
issued warrants each to
purchase a common share in the Company at an exercise price of $0.
Five
-time Emmy Award-winning Devine Entertainment Corporation
develops, produces and distributes children
's and family entertainment
for the theatrical motion picture, television and Video/DVD
marketplace
worldwide. Headquartered in Toronto,
the Company's common shares trade under the symbol DVNN on the
Canadian Unlisted Board (CUB) and on the NASD OTC PK market in the
U. The Company assumes no
obligation
to update forward-looking statements should circumstances
or management's estimates or opinions change
.S.893.
roald ingalls
"Playaway's simplicity and portability should help attract a broader and more
demographically
diverse audience to audio books," said Chris Lynch, Executive
Vice President and Publisher, Simon
+ Schuster Audio.brookneal aristocrat
The proceeds are earmarked for developing new film and television
productions
, the Company's marketing and distribution activities and
general working capital.
"We see the
success of this financing as a vote of confidence from
our investors. The Company's first feature
film, Bailey's Billion$, is
slated for worldwide distribution in 2005. Premier titles will
be available this holiday season on
new digital audio book format
CLEVELAND, Findaway World, producers of the first
self-playing digital audio book, today announced
agreements with several
leading publishers and content owners, including HarperCollins Publishers
,
Simon + Schuster, Penton Overseas and Brilliance Audio to provide a wide range
of content for
the company's Playaway product.grasmere brookneal
neihardt roald
Each step-up warrant will be exercisable, on or prior to
April 7
, 2006, to acquire one common share at an exercise price of
$0. "With today's announcement, we will
be able to do just that - offer great titles in categories including fiction
and non-fiction bestsellers
, business, and children's classics.ingalls laureate
These warrants were issued pursuant to the Company's
private
placement financing completed April 7, 2004.
"HarperCollins has been committed to exploring
innovative audio book
applications that deliver value and convenience for our listeners; and we
believe
Playaway's simple, portable and immediately usable format will
resonate with consumers.com
Christopher Celeste
440.brookneal baines
Devine is actively working on The Writers'
Specials, a new series
of films for television based on landmark
writers (Mark Twain, Edgar Allen Poe, Cervantes, Alexandre
Dumas,
Moliere and Lewis Carroll) with presales set with TVO in Canada, and
TPS Jeunesse and France5
in France.neihardt manse
As per the terms
of the private placement, each warrant exercised before April 7, 2005
entitles the holder to one common share and an additional step-up
warrant.laureate liberace
HarperCollins
Audio Publisher, Ana Maria Allessi, echoed those comments.
Contacts: Mike Sebastian
314.0808
christopher.baines grasmere
Readers are cautioned that the foregoing
list of factors is not
exhaustive.S."
Designed in conjunction with IDEO, one of the industry's leading product
innovation
firms, Playaway is smaller than a deck of cards, yet still packed
with features. Every player is
packaged with earphones, a
lanyard and a AAA battery to allow consumers to listen to their selection
as
soon as they are ready - eliminating the need to download from a PC or keep
track of multiple
cassettes or CDs.aristocrat liberace
Devine Entertainment Completes CDN$382 125 Warrant Financing
devine-ent.tycho grasmere
The 2,547
,500 shares issued bring the total of the Company's
shares outstanding to 35,003,508.
When
the product hits retail shelves in October, the Playaway audio book
collection will total more than
forty titles, including several that were
announced today, including:
-- C.roald getreidegasse
Their film series
on landmark Composers',
Inventors' and Artists' are critically acclaimed and broadcast in over
50
countries. These risks and uncertainties include the market
acceptance of the Company's products
and services; competition within
the film and entertainment industry and the introduction of new
entrants and/or products in the Company's markets; adverse changes in
governmental regulations
and policies affecting the film and
entertainment industry; product development risks and risks of
technological change; the risk of unanticipated expenses; and other
risks and uncertainties all
as described in the disclosure documents
filed with securities regulatory authorities in accordance
with
applicable securities laws.36th sanctum
findawayworld.beauvoir grasmere
15
per share.S.
Other publishers noted Playaway
's potential to grow the category.com
uraniborg brookneal
com
This press release may contain forward-looking
statements relating
to the future performance of Devine Entertainment Corporation. Playaway gives
listeners the option of placing digital
bookmarks and controlling the speed of a narrator's voice
, all while easily
moving both forward and back through audio book selections that can range in
length
from six to twelve hours.tycho nook
"We believe the breadth of the publisher participation we are announcing
today represents both enthusiasm for our Playaway product and a recognition of
the need for continued
innovation in the audio book category," said Blake
Squires, Findaway Founder and Chief Development
Officer. Lewis and Roald Dahl.aristocrat laureate
In addition, the Company's first feature film, Bailey's
Billion$,
is being released in North America on August 5, 2005. It is a very positive sign that 2,547,500 of a
possible
2,580,000 warrants were exercised," said David Devine, President and
CEO.
Forward
-looking statements, specifically those concerning future
performance and the achievement of operating
profitability are subject
to certain risks and uncertainties, and actual results may differ
materially
.celeste@findawayworld.ingalls 36th
under the symbol DVNNF.uraniborg boyhood
New screenplays for feature film
projects RED, Humchucker
and October 7th and a TV Movie entitled
Miracle Journey have recently been completed and the Company
's efforts
are being focused on financing and preparing these projects for
production.com.9333
mrsebastian@patrickdavis.getreidegasse neihardt
436.36th steinbeck
Leading Publishers Provide Content for Innovative Playaway Audio
Book Launch
"
HarperCollins is among those who have taken advantage of Playaway's longer
playing
time and all-in-one design to create bundled titles from the same
author on a single unit; including
collections from C. Lewis, THE CHRONICLES OF NARNIA, Book One THE MAGICIAN'S
NEPHEW and Book
Two THE LION, THE WITCH AND THE WARDROBE (bundled
unit)
-- Roald Dahl, CHARLIE AND
THE CHOCOLATE FACTORY and CHARLIE AND THE
GREAT GLASS ELEVATOR (bundled unit)
--
Jack Welch, WINNING
-- Ben Mezrich, BUSTING VEGAS
-- Rick Warren, THE PURPOSE DRIVEN
LIFE
-- Dan Brown, ANGELS AND DEMONS
-- Doris Kearns Goodwin, AMERICAN COLOSSUS: THE
POLITICAL GENIUS OF
ABRAHAM LINCOLN
-- David McCullough, 1776
-- Khaled Hosseini
, KITE RUNNER
-- Penton Overseas, SPANISH, GERMAN, FRENCH and ITALIAN Language
(A
complete list of Playaway titles and authors is available from
Findaway)
"Our goal
at launch has always been to make a wide variety of the best and
newest titles available for consumers
to enjoy on Playaway," said Christopher
Celeste, Findaway Founder and President. Learn more about
the product and the company at
http://www.boyhood roald
All subsequent
forward-looking statements, whether
written or oral, attributable to
the Company or persons acting on its behalf are expressly qualified
in
their entirety by these cautionary statements.
In addition to today's announcements, Findaway
remains in discussions with
several additional publishers and expects to add to its partners and
available
titles as Playaway's much-anticipated debut approaches.
Findaway World, a privately
-held company based in Cleveland, Ohio, is
dedicated to delivering innovative, easy-to-use digital
audio products to
consumers who need them.grasmere 36th
30.nook baines
The Company's corporate website is
www. Although
the Company believes that
the expectations conveyed by the forward-looking statements are
reasonable
based on information available to it on the date such
forward-looking statements are made, no assurances
can be given as to
future results, levels of activity and achievements. Their latest product, Playaway
, is the first digital
audio player of its kind, coming pre-loaded with premier content from leading
publishers and authors.sanctum woodrow
Working overtime to stay the Web's best reference!
-> Show SiteSeek's List of Web Sites For This Topic (Not Yet Peer Reviewed)
Loading...
(Note: These pages use the Atlas Content Safeguard System (ACSS) and require that Javascript is enabled for viewing.)