Moon River Studios Announces Letter of Intent to Acquire Southeast Props
RINCON, Ga., Sept. 23, 2015 /PRNewswire/ -- FONU2, Inc. (OTCQB: FONU) ("FONU2" or "Company") announced today that Moon River Studios has signed a Letter of Intent to acquire the assets of SouthEast Props.
Currently located in Wilmington, North Carolina, SouthEast Props is a set decoration and prop rental house serving the east coast film and television industry. Upon completion of the acquisition and relocating the assets to Effingham County, the Company believes that it will be the largest Prop rental house in Coastal Georgia. The recent curtailing of film tax credits in both Louisiana and North Carolina has created significant new opportunities for creating jobs and providing production services to films that are seeking motion picture infrastructure in Coastal Georgia.
The new Moon River Studios division will be managed by Matthew Sullivan and Adam Cameron (Flight of the Phoenix, Sleepy Hollow, Dawson's Creek, One Tree Hill, Revolution). The acquisition is expected to close in the next forty-five days.
About FONU2, Inc.:
FONU2 is a publicly traded company, that operates under the name Moon River Studios ("Moon River"). Moon River has a public private partnership with the Effingham County Industrial Development Authority, and the State of Georgia, to develop a 1,560 acre full service film production facility predominantly in Effingham, Georgia. Moon River's camera, grip and electric equipment rental subsidiary serves coastal Georgia and beyond. For additional information, visit our Website, www.Fonu2.com. You can also follow us on our social network, Facebook, Google + and Twitter.
Safe Harbor Statement
The Private Securities Litigation Reform Act of 1995 provides a "safe harbor" for forward-looking statements. Certain information included in this press release contains statements that are forward-looking, such as statements related to the future anticipated direction of the industry, plans for future expansion, various business development activities, planned or required capital expenditures, future funding sources, anticipated sales growth, and potential contracts. Such forward-looking information involves important risks and uncertainties that could significantly affect anticipated results in the future and, accordingly, such results may differ from those expressed in any forward-looking statements made by, or on behalf of, the company. These risks and uncertainties include, but are not limited to, those relating to development and expansion activities, dependence on existing management, financing activities, domestic and global economic conditions, and other risks and uncertainties described in the Company's periodic filings with the Securities and Exchange Commission.
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SOURCE FONU2, Inc.
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