Seven Arts Entertainment Inc. Provides Shareholder Update to Correct the Record on Recent Press

Rhea-AI Summary

Seven Arts Entertainment Inc. (OTC:SAPX) has issued a clarification regarding its July 11, 2025 announcement about a new film project. The company had to retract the previous press release due to an undisclosed talent's existing non-compete clause with another organization.

The company addressed statements made by a talent manager, explaining that managers don't have complete visibility into production partnerships. SAPX confirmed the project remains active, with ongoing negotiations for additional talent and resources. The company also mentioned pending announcements regarding acquisitions, new projects, and a shareholder Q&A.

Positive

• Film project remains active and under development
• Company actively negotiating for additional talent and resources
• Multiple upcoming announcements planned regarding acquisitions and new projects

Negative

• Required retraction of previous press release due to talent's non-compete clause
• Public disagreement with talent manager potentially affecting company reputation
• Increased restrictions and non-disclosure requirements on project communications

ATLANTA, GA / ACCESS Newswire / August 11, 2025 / Seven Arts Entertainment Inc. (OTC PINK:SAPX), the "Company", a legacy film and music production company, is pleased to provide the following update.

On July 11, 2025, the Company announced a new film project through an independent production company working with a known sports and entertainment figure. Following the approval and release of the press it was later discovered that this individual still had time remaining in an existing non-compete clause with a particular organization. This oversight was not due to any error on the part of Seven Arts, but, due to the urgency of the matter and pressure upon various parties, the Company agreed to retract the press release until a future date.

Seven Arts is further aware of statements made by a manager regarding the Company. This individual was simply mistaken and likely concerned about any blowback his client might receive due to the announcement. It is not in the purview of a talent manager to have firsthand knowledge of every third-party producer or vendor that the lead production company has elected to do business with on a project. Seven Arts is under agreement with the primary producer of the film, not with the film's various performers.

Since that time all parties have agreed to sign off on more stringent non-disclosures until a future date, agreed upon by the parties. The project remains underway, and Seven Arts is actively negotiating with the primary producer to bring additional talent and resources into the film.

Upon recent communications with OTC Markets, the Company has chosen to address this subject as a stand-alone release. The Company still has several announcements pending regarding acquisitions, new projects, and shareholder Q&A that Seven Arts intends to release shortly.

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.

Contact: info@sevenartsentertainment.com

X: @SAPX_7arts

SOURCE: Seven Arts Entertainment, Inc.

View the original press release on ACCESS Newswire

FAQ

Why did Seven Arts Entertainment (SAPX) retract its July 11, 2025 press release?

SAPX retracted the press release because the involved talent had an existing non-compete clause with another organization that was still in effect.

Is Seven Arts Entertainment's (SAPX) film project still moving forward?

Yes, the company confirmed the project remains underway and they are actively negotiating with the primary producer to bring additional talent and resources into the film.

What upcoming announcements does Seven Arts Entertainment (SAPX) have planned?

SAPX has indicated upcoming announcements regarding acquisitions, new projects, and a shareholder Q&A.

How did Seven Arts Entertainment (SAPX) respond to the talent manager's statements?

SAPX stated the manager was mistaken and explained that talent managers don't have visibility into all third-party producers or vendors working with the lead production company.

What new restrictions are in place for Seven Arts Entertainment's (SAPX) film project?

All parties have agreed to sign more stringent non-disclosure agreements until a future date agreed upon by all parties involved.