Seven Arts Closes First Three Tranches of Production and Distribution Financing and Receives over $10 Million (GBP 5,000,000) of Net Cash Proceeds:
Seven Arts Pictures plc (the Company) (PLUS:SAPP) (OTCBB:SAPXF) announced today that Zeus Partners LLP ("Zeus") has closed the first 3 tranches of production and distribution financing and Seven Arts has received over $10 million (approximately GBP 5,000,000) of net cash proceeds from the capital raised by Zeus for investment into the production and distribution costs of Seven Arts existing and future motion picture productions and acquisitions (the "Transaction"). The three tranches were closed since Wednesday, 19 March 2008. Seven Arts expects to close the balance of the investment before the 2008 fiscal year end on 30 June 2008.
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Wisconsin Dells Church Teams Up with Area Attractions for Enticing Raffle with $500,000 in Cash and Attraction Prizes
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