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Construction to Begin on Medient Studioplex(July 01, 2013)
HOLLYWOOD, CA -- (Marketwired) -- 07/01/13 -- Medient Studios, Inc. (OTCQB: MDNT) ('Medient') today announced that the Effingham County Industrial Development Authority, at a meeting of the Property Committee of the Board on the 28th June 2013, formally approved the commencement of construction on the 1,550 acre property.
Medient has initiated engineering, clearing and grading of the property, as part of a construction plan to have the studioplex operational by the first quarter of 2014.
Medient's President of Infrastructure Manoj Koshy stated, "Our construction plan involves multiple parallel paths to minimize the amount of time to being able to shoot movies on campus. We have incorporated the latest technologies in modular construction, and non conventional energy sources to build the studioplex at the fastest pace with the least environmental impact possible."
Chance Raehn, Principal of Integrated Science & Engineering, Inc. the civil engineers for the project, stated, "The focus is on the engineering tasks required to get the site 'construction ready' by November. The DRI and Traffic studies, Topography surveys for public areas and roads, Boundary surveys, Geotechnical investigations and Civil Design will all commence this week."
Medient Studios, Inc. (OTCQB: MDNT) is an entertainment content creation company with a strong presence in North America, Europe and India. Medient's management team has approximately 150 years of experience in the motion picture industry and is responsible for producing and/or financing over 250 movies. Medient is realigning the content creation process to enable efficiencies of scale and eliminate process waste by building a fully integrated movie and game production facility and campus on a 1550 acre property in Effingham County, Georgia. Once operational this production facility will be the largest of its kind in the United States.
Safe Harbor Statement The Private Securities Litigation Reform Act of 1995 provides a "safe harbor" for forward-looking statements. Certain information included in this press release contains statements that are forward-looking, such as statements related to the future anticipated direction of the industry, plans for future expansion, various business development activities, planned or required capital expenditures, future funding sources, anticipated sales growth, and potential contracts. Such forward-looking information involves important risks and uncertainties that could significantly affect anticipated results in the future and, accordingly, such results may differ from those expressed in any forward-looking statements made by, or on behalf of, the company. These risks and uncertainties include, but are not limited to, those relating to development and expansion activities, dependence on existing management, financing activities, domestic and global economic conditions, and other risks and uncertainties described in the Company's periodic filings with the Securities and Exchange Commission.
R. Jerry Falkner, CFA
RJ Falkner & Company, Inc
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