Date: Jun 17, 2010 Source: Business Wire (
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HOLLYWOOD, Calif.--(BUSINESS WIRE)--ImaRx Therapeutics, Inc. (OTCBB:IMRX), a publicly traded corporation, trading under the symbol IMRX, has been transformed into a diversified, full service feature film marketing and distribution company following the acquisition by the shareholders of Sycamore Films Inc. of a controlling interest in the former healthcare company.
"We are very excited at the opportunity to harness the power of Wall Street with the distribution wisdom and creative marketing techniques of our veteran team of entertainment marketing executives"
Sycamore Films, Inc. is co-founded by Edward and Terry Sylvan. Edward Sylvan, a 20 year veteran of the investment markets, has worked in sales and trading for some of Canada's largest investment banks, such as Scotia McLeod and First Marathon Brokerage. Mr. Sylvan will act as the new company Chairman of the Board and CEO. Terry Sylvan, a 12 year advertising veteran and formerly a senior executive with advertising giants BBDO and DDB Canada, where he crafted advertising ideas for Fortune 500 brands such as Pepsi®, GM®, Unilever® and Nestle®, will serve as Sycamore's Executive Vice President of Corporate Communications.
"We are very excited at the opportunity to harness the power of Wall Street with the distribution wisdom and creative marketing techniques of our veteran team of entertainment marketing executives," stated Mr. Edward Sylvan.
Sycamore Films' management team is comprised of multi-award winning entertainment industry professionals that have the proven talent and ability to bring exciting new films to theatres as well as Home video, DVD, Pay Per View, Network Television and Video on Demand.
Don Scotti will serve as Sycamore's President. Prior to becoming President of Sycamore, he was CEO/President of award-winning film & video game marketing company Sweet Spot Productions, Inc.; prior to that, he was EVP of After Dark Films. Earlier Mr. Scotti served as producer and VP at renowned trailer company, Kaleidoscope Films, based in Hollywood. Kaleidoscope created campaigns for such blockbusters as "Titanic," "Saving Private Ryan," "Braveheart," "Jurassic Park," and many others.
Joe Takats will serve as Senior Executive Vice President for Sycamore Films. Prior to joining Sycamore Mr. Takats was Executive Vice President of Marketing for After Dark Films. Earlier, he served as Creative Director of Miramax Films. Mr. Takats' many credits include marketing campaigns for films that include "My Left Foot," "Madonna: Truth or Dare," "Sex Lies and Videotape," "Cinema Paradiso," "Clerks," "The English Patient," "Memento," "House of Flying Daggers," and "The Illusionist."
Mike Doban, Sycamore's new Chief Operations Officer, is the co-founder of Freestyle Releasing, a distribution company specializing in domestic theatrical distribution of independent feature films including, "The Illusionist," "An American Haunting," "Find Me Guilty" and "A Day Without a Mexican" among others. As Sr VP of United Artists Theatres International, Mr. Doban was responsible for creating the film distribution and exhibition division for that company's international marketplace.
John Sloss, Esq., of the New York based Sloss Eckhouse Brennan Law Co. LLP, who has brokered deals for independent films such as "Napoleon Dynamite," "Super Size Me," "Little Miss Sunshine," and "Precious," will act as Sycamore Films' entertainment attorney. Sycamore is currently in the process of negotiating its first slate of film releases.
"As a public company, Sycamore believes it will have greater access to the funds necessary to further implement its business strategy due to the ability to now offer investors potentially improved liquidity for their investments while tailoring financial products to coincide with current market conditions. We anticipate that this strategy will provide us consistent access to capital in order to fund our on-going distribution slate," stated Ed Sylvan, Chief Executive Officer of Sycamore Films. Mr. Sylvan further stated that "we are excited about the future prospects of the company and the opportunity to utilize the relationships and experience of our management team to build the company into a leading film distributor."
About Sycamore Films Inc.:
Sycamore Films Inc. is a publicly traded diversified entertainment company that specializes in the acquisition, marketing and worldwide distribution of quality feature-length motion pictures. Sycamore's management has more than 50 years' experience in the entertainment industry and utilizes its long standing relationships to provide market specific publicity, promotion, media buying, theatrical placement and Print and & Advertising financing for theatrical domestic release. Visit: sycamoreentertainment.com
Forward-Looking Safe Harbor Statement This press release contains forward-looking statements that are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. By their nature, forward-looking statements and forecasts involve risks and uncertainties related to events dependant on circumstances that will occur in the near future. These statements involve known and unknown risks and uncertainties, which may cause Sycamore Films actual results in future periods to differ materially from results expressed or implied by forward-looking statements. These risks and uncertainties include, but are not limited to, product availability; demand and market competition, and access to capital markets. For a more complete discussion of the risks to which Sycamore Films is subject to please see our filings with the SEC, including our Current Report on Form 8-K filed May 21, 2010 and our Quarterly Report on Form 10-Q for the first quarter 2010. You should independently investigate and fully understand all risks before making investment decisions.
Contacts
Investor Relations:
Sycamore Films Inc.
Ikkee Battle, 1-888-530-2999 ext 3
Ikkee@sycamoreentertainment.com
or
Media Relations:
DH/pr/Hollywood
Dan Harary, 323-993-3000 x 211
Dan@asburypr.com
