Mindpix Corporation (OTC Pink: MPIX) (PINKSHEETS: MPIX) ("Mindpix" or the "Company"), a technology driven media services and entertainment company focused on owning, creating or managing multi-platform music/entertainment, sports and U.S. Hispanic media properties, today is pleased to announce that they have entered into an agreement with KM Productions for the development and production of a slate of original films for North America, China and international distribution as well as the development of related destination theaters at major Chinese tourist locations.
MPIX Presents has been exploring a "Digital First" pay for view model for new release films utilizing its technology and distribution platform created for live and video on demand events. This joint venture with KM Productions will have a dual focus on large format 3D films and destination theaters in China covering specific historical and geographic topics, and original films for digital and traditional distribution in the United States as well as foreign territories worldwide.
KM Productions is the production shingle for Kieth Merrill. Mr. Merrill is a writer, producer and director, a two-time Academy Award nominee and winner of an Academy Award. He is a member of the Academy of Motion Picture Arts and Sciences and Director's Guild of America. Merrill is one of the leading producers of large format films. His accomplishments include over 30 films and 11 major IMAX films, among them, Grand Canyon, Amazon, Yellowstone and Olympic Glory to name a few. Amazon was nominated for an Academy Award in 2000. KM Productions has a relationship with IMAX Corporation as well as D3D Cinema Technology for the China projects in development. IMAX is the world's leader of large format 3D. D3D is the innovator of break-through technologies for large screen theaters with their proprietary 4K 3D laser systems.
Large format 3D films are ideal for showcasing the rich history and texture of major tourist destinations. MPIX has engaged new relationships in China to capitalize on the tremendous potential and growth in the China entertainment marketplace. MPIX has begun negotiations with major tourist destinations for the creation of large format 3D films as well as related theater destinations. The destination business model is similar to the existing IMAX Theater at the Grand Canyon, which Mr. Merrill conceived and developed, and for which he produced and directed, Grand Canyon The Hidden Secrets that has generated over $500 million in revenues since opening.
Commenting on the agreement between KM Productions and Mindpix, Kieth Merrill stated, "I've been looking for an innovative and vertically integrated partner to help me develop my extensive library of film IP and leverage my experience in getting our best projects produced for the rapidly changing global digital landscape. I am delighted to have found that partner in Victor Siegel and his talented team at Mindpix. Combining their existing film and international relationships with MPIX's advanced technical platform for direct to consumer pay for view ticketing and distribution will greatly enhance our efforts both from a timing, creative and revenue enhancing perspective going forward."
Victor Siegel stated, "We announced the formation of Mindpix Presents in December 2012, and have been working hard to realize our vision of direct equity based partnerships with exceptional media properties and partners that leverage our existing technology and staff infrastructure. In Kieth and KM Production we have found that perfect partner. Kieth Merrill is an Academy Award Winning Director and in my opinion one of the industry's finest producers of large format films, and I could not be more pleased to rollout Mindpix Presents' efforts in conjunction with him. He and I have been talking about this for quite some time and I'm looking forward to working closely with Kieth on both our China initiative in 3D large formats films as well as the full development and production of the library of IP and slate of films and truly pioneering digital distribution for films domestically and internationally."
Mr. Siegel further added, "Having our two businesses divisions under the Mindpix mantel, Mindpix Media Services and Mindpix Presents, allows the Company to fully leverage our technology and human capital, creating 2 revenue streams. Mindpix Media Services and Mindpix Presents put us in a very unique growth position as we are continuing to aggressively roll out our products and services. Where Mindpix Media Services is more focused on immediate revenue opportunities and aggressive customer acquisition activities, Mindpix Presents takes a longer-term view on value creation and building intellectual property assets. We believe the equity stakes under Mindpix Presents will add substantial value for the company and our shareholders. These are long term capital asset projects where our goal is to create recurring revenue streams from both digital and in theater distribution. We look forward to working with Kieth and his team in this new and expanded relationship."
About Mindpix Corporation
Mindpix Corporation (OTC Pink: MPIX) is a technology driven multi-platform media company focused on owning, creating and/or managing multi-media entertainment and sports and US Hispanic media properties across the globe. Through a unique eco-system, MPIX provides the critical on-line video technology, production, digital marketing, audience development, payment services, sponsor acquisition, digital and traditional media distribution services to drive revenue for live and VOD (video on demand) events globally.
MPIX disclosure and financial information is published on OTC Markets and can be found at the following site:http://www.otcmarkets.com/stock/MPIX/filings/
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), and as such, may involve risks and uncertainties. These forward looking statements relate to, amongst other things, current expectation of the business environment in which the company operates, potential future performance, projections of future performance and the perceived opportunities in the market. The company's actual performance, results and achievements may differ materially from the expressed or implied in such forward-looking statements as a result of a wide range of factors.
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