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News Release
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YALETOWN ENTERTAINMENT CORP. 407 - 535 Howe Street, Vancouver, B. C. V6C 2Z4 Tel: (604) 688-0118 Fax: (604) 688-3348 CUSIP# 984909101 Rule 12g3-2(b)# 82-4336 |
April 3, 1997 A.S.E Trading Symbol: YAL
YALETOWN SIGNS 26 EPISODE TELEVISION DEVELOPMENT DEAL
VANCOUVER, B. C., CANADA --- Yaletown Entertainment Corp. announces that it has signed a 50/50 co- development agreement with Meridian Motion Pictures Inc. to jointly develop a 26 episode television series titled Extreme Team.
The joint developers have contracted with Marienbad Productions Inc. to obtain the services of prominent television writer/developer Jana Veverka to write the detailed concept and episode outlines.
The joint developers have entered into negotiations with Gedeon Films, a European television and motion picture distributor, for a co-production deal whereby up to a 40% interest in the series production may be acquired by Gedeon.
Discussions regarding broadcast licenses have been commenced by the joint developers with television broadcasters in the United States, Canada and Japan. "Extreme Team is a series about today's youth, an action drama focused on extreme sports. The stories are packed with personal drama, sporting thrills and tragedy" said Yaletown C.E.O. John Cumming.
Extreme Team has also been selected for the Market Simulation Event at MIP '97, the International Television Festival at Cannes, France in April, 1997 where Extreme Team will be pitched to an international audience of television broadcasters.
The estimated production cost of Extreme Team is C$400,000 per episode. Yaletown Entertainment Corp. is a Canadian film producer with diversified interests in mineral resource exploration in South America. The company is listed on the Alberta Stock Exchange under trading symbol YAL.
For further information, please contact Mr. John Cumming, Chief Executive Officer, at (604) 688-0118.
John C. R. Cumming, Director, Chairman & C.E.O.
THE ALBERTA STOCK EXCHANGE HAS NEITHER APPROVED NOR DISAPPROVED OF THE CONTENTS OF THIS PRESS RELEASE.
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Yaletown Entertainment Corporation, Vancouver B.C. Canada
tel: (604) 669-3543 - Executive/Production Offices
Canadian Venture Exchange: ECY