VANCOUVER, Dec. 12, 2017 /CNW/ - Network Media Group Inc. (TSX: NTE.V) and Network Entertainment Inc. ("Network" or "the Company") is pleased to announce that the board has appointed Frank Anderson to succeed Robert Pirooz as Executive Chairman of its Board of Directors, effective immediately. Mr. Anderson has over three decades of experience in the capital markets, including 18 years as an investment adviser and partner at the largest independent non-bank owned investment firm in Canada, as well as broad experience in the entertainment industry, working with television and film production companies, music labels, and talent agencies, among others. Mr. Anderson will employ his extensive relationships in both the investment and entertainment sectors to help further expand Network's development and production activities.
"I was motivated to join forces with Network based on the exceptional quality of their work, which is a direct result of the world class production and management team that C.E.O. Derik Murray has assembled since the company's inception," stated Mr. Anderson, "Network has earned a stellar global reputation resulting from the consistent commercial and critical success of its productions, and is now poised to capitalize on that success by continuing to work with and grow its roster of industry leading broadcast and distribution partners on its expanding slate of productions."
"Since joining Network's Board of Directors in July of this year, Frank's contributions have been extraordinary", adds Network Founder and C.E.O Derik Murray, "His deep and robust relationships in both the investment and entertainment communities have already strengthened the company's financial position, and resulted in significant relationships with key players in all areas of the entertainment industry, as well as bringing in several exciting projects that the company is actively pursuing."
The Company has allocated 1,000,000 incentive stock options to Mr. Anderson, exercisable at $0.20 per share for a 5 year term. The stock options are subject to regulatory approval.
The Company and its board wish to acknowledge Mr. Pirooz for his contributions during his tenure as Executive Chairman.
About Network Media Group/Network Entertainment Inc.
Network is focused on becoming one of the world's leading developers and producers of entertainment properties for the global marketplace and its worldwide audience. It is the parent company of Network Entertainment Inc., an established television and film production company with an award-winning international reputation. Its productions include the Academy Award shortlisted feature documentary Facing Ali, as well as documentaries on the lives of Bruce Lee, Steve McQueen, Evel Knievel, Johnny Cash, Chris Farley (which set all time ratings records for Spike), JFK Jr. and, most recently, Heath Ledger. The Company recently received the prestigious Realscreen Award in 2017 for Non-Fiction – History/Biographical Series for its documentary series Facing. Network's past projects and current productions can be viewed at www.networkentertainment.ca.
ON BEHALF OF THE BOARD OF DIRECTORS OF
NETWORK MEDIA GROUP INC.
"Derik A. Murray"
Derik A. Murray
Chief Executive Officer and Director
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CAUTIONARY STATEMENT ON FORWARD-LOOKING INFORMATION
Except for historical information contained herein, this news release contains forward-looking statements that involve risks and uncertainties, including the Company not obtaining required TSX Venture Exchange approval of the Transaction and the Transaction not being completed as proposed or at all. These statements are necessarily based upon management's perceptions, beliefs, assumptions and expectations, as well as a number of specific factors and assumptions that, while considered reasonable by management of the Company as of the date of such statements, are inherently subject to significant uncertainties and contingencies that could result in the forward-looking information ultimately, perhaps materially, being incorrect. All forward‐looking information in this news release involve known and unknown risks, uncertainties and other factors that are beyond the control of the Company and may cause the actual results, performance or achievements of the Company to be materially different from those expressed or implied by such forward‐looking information. Except as required pursuant to applicable securities laws, the Company will not update these forward-looking statements to reflect events or circumstances after the date hereof.
SOURCE Network Media Group Inc.
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