NEWS
Wednesday November 11, 2:26 pm Eastern Time
Company Press Release
SOURCE: Definition, Ltd.
Definition, Ltd. Announces Acquisition
LAKE PARK, Fla., Nov. 11 /PRNewswire/ -- Definition, Ltd. (OTC Bulletin Board: DFNL - news) announced today they have signed an agreement to acquire Nutec Transmission, Ltd. for cash and stock. Nutec is a diversified. company doing research and development and owns a small film library. One film has never been released and has 45 prints ready for theatrical release. The company has arranged to begin release on January 15, 1999 in a 600 theatre circuit in the Midwest. The company will release 20 prints initially. Conservative gross revenues are $1,000 per night, per film. Each film will run 7 days in each theatre, thus taking 30 weeks to complete this run. Gross revenues are estimated at $4.2 million. The remaining 25 prints will be marketed on the east and west coasts.
This is the first of several acquisitions that Definition, Ltd. plans to complete before the end of the year.
Except for historical matter contained herein, the matters discussed in this press release are forward-looking statements and are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements reflect assumptions and involve risks and uncertainties which may affect Definition, Ltd. business and prospects and cause actual results to differ materially from these forward-looking statements.
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