April 08, 1999 10:37
1st Miracle Group, Inc. Enters Foreign Distribution Agreement with Cutting Edge; Company Secures Rights to Upcoming Andrew Dice Clay Comedy Event
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NEW YORK--(BUSINESS WIRE)--April 8, 1999--1st Miracle Group, Inc. (OTCBB:MVEE) announced today that it has entered into a multi-picture foreign distribution agreement with Cutting Edge Entertainment, Inc. a leading international distributor of films.
Cutting Edge was founded in 1994 by David Glasser, the company's Chairman and CEO. During the past year, David and his partner, Adam Stone, president, were responsible for the distribution of approximately 15 titles and financed six projects, with combined sales in excess of $20 million.
The agreement includes several of 1st Miracle's films, among them recently completed "Speedway Junky" starring Darryl Hannah and Jonathan Taylor; and "Roll the Dice", a 1 1/2 hour comedy special showcasing comedian and actor Andrew "Dice" Clay which the company has recently secured the rights to. The special, filmed during a recent Las Vegas show, will feature behind-the-scenes footage and live stand-up routine. Both projects were produced by George Furla and Randall Emmett and will be screened during the Cannes Film Festival during the week of May 13th along with another undisclosed 1st Miracle project.
Clay's previous comedy specials include "Andrew Dice Clay - No Apologies," "One Night With Dice," and "The Dice Man Cometh - Andrew Dice Clay Live!", among others. He has also starred in such films as "The Adventures of Ford Fairlane" and "Amazon Women on the Moon."
In announcing the agreement, Tony Cataldo, CEO of 1st Miracle Group, commented, "We are delighted to have this opportunity to work with Cutting Edge on the foreign distribution of these and other various projects, and look forward to a fruitful relationship as we continue to rev up our production of films of international appeal. David and Adam have built one of the top international distribution houses and their understanding of the ever changing market is apparent in their ability to pre-sell titles while still in the development stage. We are equally excited about working with Mr. Clay on an upcoming comedy special, his first in nearly four years. Given Mr. Clay's unique brand of comedy and tremendous fan base, we believe that this project will create significant interest both domestically and internationally."
Added David Glasser, "Given the nature of our business, we are extremely cautious about the production companies we choose to work with. However, given the content of 1st Miracle's projects and the new management team overseeing the company's overall operation, we feel comfortable working with them on a long-term basis. While foreign buyers are increasingly more selective about the motion pictures they are purchasing at the various festivals and markets, such well produced and well acted films as "Speedway Junky" are in synch with the needs of these buyers. We look forward to a long and prosperous relationship and in collaborating with 1st Miracle on their upcoming diverse slate of high profile projects."
CONTACT: Rubenstein Investor Relations, New York
Clint Cantwell, 212/843-8051 |
