Cinema Ride Engages Investment Banking Firm L.H. Friend
LOS ANGELES (Aug. 5) BUSINESS WIRE -Aug. 5, 1997--Cinema Ride Inc.
(NASDAQ:MOVE) has engaged the investment banking firm of L.H. Friend,
Weinross, Frankson & Presson Inc. to serve as the company's exclusive
financial advisor and investment banker, it was announced Tuesday by
Mitch Francis, Cinema Ride chairman and chief executive officer.
"We are pleased to have a firm with L.H. Friend's reputation and
expertise in location-based entertainment as financial advisor to
Cinema Ride," said Francis.
"In addition to acting as our company's market maker and offering
strategic advice, we anticipate that Charles Dargan II and his
associates will also pursue potential sources of capital, such as a
secondary offering, corporate partnership or joint venture, to fund the
development of our fourth and subsequent Cinema Ride locations," he
added.
L.H. Friend, Weinross, Frankson and Presson Inc., with headquarters in
Los Angeles, is a Southern California-based investment banking firm
founded in 1984 which specializes in investment banking, institutional
sales and research and trading activities for middle market companies.
L.H. Friend is one of the leading middle market investment banks for
institutional private placements of equity, mezzanine and subordinated
debt.
L.H. Friend has completed more than 60 private placement transactions
in the past five years. The firm has approximately 50 professionals in
two offices in Los Angeles and Irvine.
Cinema Ride currently has three 3-D simulator thrill ride facilities in
the United States and its rides feature the first and only 3-D
simulator thrill ride facilities.
Military quality simulators are programmed by computer to move in
concert with on-screen action. Cinema Ride customers can experience
being on a roller coaster, flying aboard a spaceship, traveling through
a haunted graveyard, being aboard a racing submarine and, in Cinema
Ride's latest adventure, skiing and snowboarding down the slopes of
Vail on "Warren Miller's Ski Ride."
The company's three facilities are in Las Vegas, Edmonton, Alberta, and
Times Square in New York City.
Cinema Ride has headquarters in Studio City, Calif.
--30--LF/la* WJA/la
CONTACT: Cinema Ride Inc., Studio City
Mitch Francis, 818/761-1002
or
Self & Associates
Trudy M. Self, 818/880-5437
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