Questions? +1 (202) 335-3939 Login
Trusted News Since 1995
A service for global professionals · Friday, April 19, 2024 · 704,898,649 Articles · 3+ Million Readers

Providence Film Group, a Valiant Eagle Inc(OTC:PSRU) Subsidiary, AND Kwetu Films Forge Major Alliance for Global Cinema

valiant eagle, inc (OTCMKTS:psru )

LOS ANGELES, CA, USA, February 29, 2024 /EINPresswire.com/ -- Los Angeles, CA – Providence Film Group ("Providence"), a subsidiary of Valiant Eagle, Inc., and Kwetu Film Studio ("Kwetu") of Rwanda are pleased to announce the signing of a groundbreaking Agreement for the Formation of a Special Purpose Vehicle (SPV) for Film Production for half a dozen films. This partnership marks a significant milestone in the global film industry, bringing together two powerhouse entities to finance and produce a series of captivating films that will garner international appeal.

The Agreement, finalized on February 23rd, 2024, sets forth the framework for the collaboration between Providence and Kwetu, with a focus on financing and producing six films through the establishment of a newly formed SPV. Each principal within the SPV will have the opportunity to select three projects for financing and production, ensuring a diverse and compelling portfolio of films. Afreximbank headquartered in Cairo, with branch offices in Harare, Zimbabwe and Abuja has signed on as a finance partner for the initial project. Afreximbank’s purpose is the financing, promoting and expanding of intra-African and extra-African trade.

One of the highlights of this collaboration is the involvement of seasoned producer Damian Lee, who will play an intricate role on the Canadian portion of the productions. Lee brings with him a wealth of experience, having financed and produced dozens of films in Canada, and his expertise will undoubtedly enhance the success of the projects.

Jon Turteltaub, who is also one of the Patrons and Advisors of Kwetu, comes on board as an executive producer for the first of our projects. He is the acclaimed director of blockbuster films such as The Meg, National Treasure and Cool Runnings, among many many others.

The production of the films will take place in Rwanda, Canada, South Africa, and Los Angeles, harnessing the unique characteristics and resources of each location to enrich the storytelling process. With an initial combined budget of no less than $30 million, Providence and Kwetu will collaborate on funding and communication strategies to increase the project's portfolio and visibility. African partners and institutions have shown huge interest in this collaboration and discussions are under way to kick start the productions of one of the slates before the end of the Q2.

"Fostering partnerships across borders is essential for the advancement of the global film industry," said Xavier Mitchell, CEO of Providence Film Group. "We are thrilled to join forces with Kwetu Film Studio to bring compelling stories to life on the big screen. Furthermore, this gives us access to the African market of which we have been trying to enter numerous times previously."

Eric Kabera, CEO of Kwetu Film Studio, added, "This collaboration represents a significant step forward in our mission to showcase African talent and stories to the world. We look forward to working closely with Providence to create impactful and memorable films with which to attract a truly global audience."

Funding for the projects will primarily be sourced from Africa and Canada, Europe with both parties responsible for securing financing through a combination of investors, banks, and other sources. Each project within the SPV will have a separate production agreement, outlining the rights, responsibilities, and financial arrangements for the production of the film.

Under the governance of California law, Providence and Kwetu are committed to realizing the full potential of this collaboration and delivering exceptional cinematic experiences to audiences worldwide.

IMDB LINKS

Eric Kabera
https://www.imdb.com/name/nm1159359/?ref_=nv_sr_srsg_0_tt_2_nm_6_q_Eric%2520Kabera

Xavier Mitchell
https://www.imdb.com/name/nm1597594/?ref_=nv_sr_srsg_0_tt_0_nm_8_q_xavier%2520mitchell

Damian Lee
https://www.imdb.com/name/nm0006860/?ref_=nv_sr_srsg_0_tt_0_nm_8_q_damian%2520lee

Jon Turteltaub
https://www.imdb.com/name/nm0005509/?ref_=nv_sr_srsg_0_tt_4_nm_4_q_jon%2520Turteltaub

###

About Providence Film Group:
Providence Film Group, a subsidiary of Valiant Eagle, Inc., is a leading film production company based in Los Angeles, California. With a focus on financing and producing high-quality films for global audiences, Providence is committed to fostering creativity and innovation in the entertainment industry.

About Kwetu Film Studio:
Kwetu Film Studio is a renowned film production company based in Rwanda with more than 25 years experience dedicated to showcasing African talent and stories on the international stage. Led by CEO Eric Kabera, Kwetu is committed to excellence in filmmaking and promoting cultural diversity through the art of cinema.

Valiant Eagle
Investor inquiries: ir@valianteagle.net
Website: www.valianteagle.net
Twitter: @valianteagleinc
Facebook: @valianteagleinc
Legal Notice Regarding Forward-Looking Statements:
This press release contains forward-looking information within the meaning of Section 27A of the Securities Act of 1933 and section 21E of the Securities Exchange Act of 1934 and is subject to the safe harbor created by those sections. This material contains statements about expected future events and/or financial results that are forward-looking in nature and subject to risks and uncertainties. That includes the possibility that the business outlined in this press release cannot be concluded for some reason. That could be as a result of technical, installation, permitting or other problems that were not anticipated. Such forward-looking statements by definition involve risks, uncertainties and other factors, which may cause the actual results, performance or achievements of Valiant Eagle, Inc. to be materially different from the statements made herein. Except for any obligation under the U.S. federal securities laws, Valiant Eagle, Inc. undertakes no obligation to publicly update any forward-looking statement as a result of new information, future events or otherwise.

xavier mitchell
Valiant Eagle, Inc
+1 714-912-9524
email us here
Visit us on social media:
Twitter

Powered by EIN Presswire


EIN Presswire does not exercise editorial control over third-party content provided, uploaded, published, or distributed by users of EIN Presswire. We are a distributor, not a publisher, of 3rd party content. Such content may contain the views, opinions, statements, offers, and other material of the respective users, suppliers, participants, or authors.

Submit your press release