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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 |
Tuesday, May 23, 2000
CDNX Trading Symbol: YAL
VANCOUVER, B. C., CANADA ------Yaletown Entertainment Corp. (the "Company") is pleased to make the following announcement:
CTF FUNDING The Company has received confirmation from the Canadian Television Fund that all funding requests for the Company's Weird Homes and Weird Wheels television series have been approved. The Company will receive in aggregate $507,000 which funds will be applied towards the production budgets for episodes #40 - 65 of Weird Homes and episodes #1 - 13 of Weird Wheels.
UNITED STATES BROADCAST LICENSE FOR WEIRD HOMES! The Company has been advised by its international television distributor, Great North International, that Discovery Showcase Networks has licensed 20 episodes of the Company's Gemini award winning television series Weird Homes for United States television broadcast on Discovery's Health Media. This is the Company's first U. S. sale for Weird Homes.
SOUTH AMERICAN BROADCAST LICENSE The Company was also advised that Programas Santa Clara S. A. has licensed thirteen episodes of Weird Homes for television broadcast in Argentina, Uruguay, Paraguay and Chile.
NORTH INDIA TELEVISION The Company has terminated all agreements with North India Television. No funds are outstanding with respect to this transaction.
PRIVATE PLACEMENT The Company has received $61,000 pursuant to the private placement announced February 4, 2000. The private placement will be closed off at that amount.
INVESTOR RELATIONS.
The investor relations agreements with Ross Hundon and Kevin Philips have been terminated.
Yaletown Entertainment Corp. is an award winning television and movie producer listed on the Canadian Venture Exchange under trading symbol YAL.
For further information, please contact Mr. John Cumming, Chief Executive Officer, or Roger Kelly, Manager of Corporate Communications, at telephone 604.688.0118 or check out our web site at www.yaletownentertainment.com.
John C. R. Cumming
John C. R. Cumming, Director, Chairman & C.E.O.
THE CANADIAN VENTURE 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