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Seven Arts Entertainment Inc. Announces Stock Repurchase Program

November 15, 2022 at 09:25 AM EST

ⓘ This article is third-party content and does not represent the views of this site. We make no guarantees regarding its accuracy or completeness.

ATLANTA, GA / ACCESSWIRE / November 15, 2022 / Seven Arts Entertainment Inc. (OTC PINK:SAPX), the "Company", a legacy producer of film and music, is pleased to announce its Board of Directors has approved a stock repurchase program.

Under the terms of the program, the Company may repurchase up to $2,000,000.00 of outstanding shares over 12 months. The Company has estimated the sum to equate to between 500 million and 800 million common shares that would be subject to repurchase.

All stock buybacks will be conducted, from time to time, based on market conditions and in accordance with all legal and SEC requirements such as Rule 10b5-1 trading plans.

Stated Seven Arts Entertainment's CEO, Jason Black: "As the Company moves closer to the opening of its Atlanta production facility, we are increasingly confident in our revenue projections and our ability to reinvest in the Company through share buybacks for the sake of continuing to improve the Company's capital structure and shareholder value.

About: Seven Arts Entertainment Inc. is a media and entertainment company developing a diverse portfolio of intellectual properties in the film and music industries.

Forward-Looking Statements:

This press release contains forward-looking statements. The words 'believe,' 'may,' 'estimate,' 'continue,' 'anticipate,' 'intend,' 'should,' 'plan,' 'could,' 'target,' 'potential,' 'is likely,' 'will,' 'expect' and similar expressions, as they relate to us, are intended to identify forward-looking statements. The Company has based these forward-looking statements largely on our current expectations and projections about future events and financial trends that we believe may affect our financial condition, results of operations, business strategy and financial needs. Some or all of the results anticipated by these forward-looking statements may not be achieved. Any forward-looking statement made by us herein speaks only as of the date on which it is made. Factors or events that could cause our actual results to differ may emerge from time to time, and it is not possible for us to predict all of them. The Company undertakes no obligation to publicly update any forward-looking statement, whether as a result of new information, future developments or otherwise, except as may be required by law.