Direct Response Media, Inc. Announces Letter of Intent to Acquire Pangea Pictures Corporation
31 Enero 2008 - 7:00AM
PR Newswire (US)
HILTON HEAD, S.C., Jan. 31 /PRNewswire/ -- Direct Response Media,
Inc. (Pink Sheets: DRMD) announced today that it has signed a
letter of intent to acquire all of the shares of privately held
Pangea Pictures Corporation, an entertainment company. The letter
of intent outlines that a final deal is contemplated to close no
later than February 15, 2008 and contemplates issuance of one share
of Direct Response Media for each share of Pangea. Prior to the
close, Direct has agreed to undertake a one for three reverse split
and anticipates issuing approximately 25 million shares (on a
post-reverse split basis) for all of the shares of Pangea. About
Pangea Pictures Corporation Pangea Pictures is a Visual Effects and
Film Technology company based in Los Angeles, CA. The company is
involved in various phases of Film Technology from software and
hardware development to 2-D and 3-D Compositing. Pangea is also in
pre-production on a number of different films with substantial
visual effects content. This press release may contain certain
forward-looking statements within the meaning of Section 27A of the
Securities and Exchange Act of 1933, as amended, and Section 21E of
the Securities and Exchange Act of 1934, as amended, which are
intended to be covered by the safe harbors created thereby.
Investors are cautioned that all forward-looking statements involve
risks and uncertainties. Although Direct Response Media believes
that the assumptions underlying the forward-looking statements
contained herein are reasonable, any assumption could be
inaccurate, and therefore, there can be no assurance that the
forward-looking statements included in this press release will
prove to be accurate. In light of the significant uncertainties
inherent in the forward- looking statements included herein, the
inclusion should not be regarded as a representation by Direct
Response Media or any other person that the objective and plans of
Direct Response Media will be achieved. DATASOURCE: Direct Response
Media, Inc. CONTACT: John Ryan of Direct Response Media, Inc.,
+1-843-842-7247; or Jonah Loop, CEO of Pangea Pictures Corporation,
+1-310-306-9090, FAX +1-310- 306-9289,
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