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U.S. Army Corps of Engineers Greenlights Medient Studioplex Construction(October 16, 2013)
EFFINGHAM, GA -- (Marketwired) -- 10/16/13 -- Medient Studios, Inc. (OTCQB: MDNT) ('Medient') announced today that the U.S. Army Corps of Engineers Savannah District has approved and issued the Nationwide Permit to construct the two road crossings that are essential to begin the development of the Studioplex.
The permit allows for establishing the approach roads on two sides of the property and will facilitate the movement of machinery and crews for the construction of the Studioplex.
The road construction is part of the $90M first phase of the Medient Studioplex project, which will include on-site movie studios, an outdoor amphitheater, housing, shopping, a school and more.
About Medient (www.medient.com)
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 electronic game production facility as part of its Studioplex on a 1,550-acre property in Effingham County, Georgia. Once operational this production facility will be the largest of its kind in the United States. For more information about Medient, visit www.medient.com.
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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