Challenger Acquisitions Limited Launch of unique film focused conventions (7187V)
07 November 2017 - 6:00PM
UK Regulatory
TIDMCHAL
RNS Number : 7187V
Challenger Acquisitions Limited
07 November 2017
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR
INDIRECTLY, WITHIN, INTO OR IN THE UNITED STATES, AUSTRALIA, CANADA
OR JAPAN.
For Immediate Release
7 November 2017
Challenger Acquisitions Limited
("Challenger" or the "Company")
New Project: Participation in Company to Launch Film Focused
Conventions
Challenger Acquisitions Limited (LSE: CHAL), the leisure and
entertainment sector focused company, is pleased to announce that
it has signed an agreement to support a private UK company (the
"Private Company") set to launch and operate film focused
conventions, beginning with a three-day event in London in 2018.
These ticketed conventions will provide attendees with a unique
opportunity to meet the stars of recent action hero movies.
Challenger has provided a loan of GBP100,000 (further details
below) and has the option to participate in future events, which
the Board believe could be very attractive, high-profile
opportunities. Alongside this agreement, the Company is continuing
to pursue additional acquisition and development opportunities,
with due diligence currently being undertaken on five new potential
projects, which the Board believes have the potential to offer near
and long-term revenue generation prospects, as previously
announced.
Overview
-- Challenger to provide a GBP100,000 loan agreement to the
Private Company to support the launch of a unique film focused
convention
-- Funding will support event venue, staff, marketing and guest
(actor) costs for a three-day convention to be held in London in
2018
-- The loan is to be repaid to Challenger by 15 May 2018 with a
repayment premium of 40% (loan is interest free, other than on
default)
-- Challenger has the right to participate in future events operated by the Private Company
Mark Gustafson, Chief Executive Officer, said, "This is an
exciting and incredibly special opportunity to participate in a new
business set to launch a unique convention that could be duplicated
throughout Europe on a similar platform. Although this opportunity
is initially smaller in scope than the five potential projects we
are currently reviewing, it does have significant growth potential.
We expect to provide more details on this event prior to the end of
this year."
This announcement contains inside information.
**ENDS**
For more information visit www.challengeracquisitions.com or
enquire to:
Challenger Acquisitions Limited
Mark Gustafson +1 604 454 8677
St Brides Partners Ltd (PR)
+44 (0) 20 7236
Lottie Wadham, Charlotte Page 1177
This information is provided by RNS
The company news service from the London Stock Exchange
END
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