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Medient Studioplex Construction Update(June 20, 2014)
EFFINGHAM COUNTY, GA -- (Marketwired) -- 06/20/14 -- The new leadership of Medient Studios, Inc. (PINKSHEETS: MDNT) ('Medient') is pleased to announce the following progress:
- The wetland mitigation credits have been purchased and the wetland piping and crossings have been completed.
- The access road survey and staking have been completed and the road has been cleared of timber.
- The studio site has been surveyed and the timber clearing has commenced.
- An initial master plan was prepared, and is now being amended to facilitate a quicker construction schedule that, along with the staging plan, will facilitate the studio being constructed sooner.
After a comprehensive search and bid process, Hussey, Gay, Bell & DeYoung has been selected as the project engineer.
Initial studio designs have been completed by the structural architect and engineers.
Since the instalment of the new leadership, Medient has begun assembling its architecture team. Multiple interviews have been conducted and an interior studio architect will be announced shortly.
Medient has also paid all outstanding invoices from the vendors, contractors and consultants who have been engaged in the Studioplex project.
In short, preconstruction work is progressing, a new master plan is being completed, the interior architect is being selected and the complete studio drawings should be commenced imminently.
"With Mr. Shapiro taking charge of Medient, the project has gained immediate momentum," stated Mr. Jeremy Blackburn, President of Shore Development & Construction, LLC. "The boost from the new management team, along with their enthusiasm and energy is now taking place in a sophisticated and strategic manner that we fully support."
Medient Studios, Inc. (PINKSHEETS: MDNT) ('Medient') (www.medient.com) is an entertainment content creation company with a strong presence in North America, and Europe. Medient's management team has almost 40 years of experience in the motion picture industry and is responsible for producing and/or financing over 130 movies. Medient is realigning the content creation process to enable efficiencies of scale and eliminate process waste by building a fully integrated movie and electronic game production facility as part of its Studioplex on a 1,560-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.
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