Providence Film Group, a subsidiary of Valiant Eagle Inc. (PSRU), momentarily signs EB-5 deal for its film production slate and regional hub
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Beverly Hills, California, April 19, 2021 WIRE PR OTC
After years of preparation and groundwork, Providence Film Group (“PFG”), a subsidiary of Valiant Eagle Inc. (OTC Pink: PSRU), using the EB-5 Affiliate Network (EB5AN), signed an agreement sponsorship secures funding for its nearly $ 50 million film and television production slate.
EB5AN will act as a regional center. They will provide advisory and document preparation services as part of the I-526 application process for investors and, in particular, will review, revise and prepare relevant business plans and economic reports required as part of the official EB-5 app. Complete project documentation
The I-526 application package will be completed within eight weeks of signing, as well as after receipt of the required information on the PFG project.
The EB-5 program is regional in nature, requiring its funding to be invested in specific areas in the United States. The two premier studios chosen by PFG, LA Center Studios in downtown Los Angeles (“The X Files”, “Mad Men”, “American Crime Story”, “Mr. and Mrs. Smith”, “T3 “,” MI -2 “) and LA Castle Studios in Burbank, Calif. (” The Mummy “,” Greenland “,” Bosch “,” Deadliest Catch “), meet this zone requirement. It is expected that the PFG slate will be based around one or both of these studios.
The EB-5 program is a US visa program designed to allow foreign investors to obtain permanent residence in the United States. It requires a minimum investment of $ 900,000 (if you are investing in a Targeted Employment Area, or TEA) or $ 1,800,000 (if you are investing in a non-TEA) to fund a business in the United States that will employ at least ten American workers. The EB-5 program aims to encourage both “foreign investment and economic growth”.
Providence Film Group parent company, Valiant Eagle Inc., uses EB5AN consulting services to ensure that all relevant EB-5 information, resources and materials are properly tailored to the specific needs of the EB-5 program. With the EB-5 investments in place, Providence Film Group will have the funding for the many different projects within the company.
Providence will finance and produce productions in targeted employment areas located in Los Angeles County. Over the past decade, a significant number of California productions have “fled” to other states, or to Canada, where there are greater financial incentives, including film tax credits, than California has not historically offered. Working as a financial incentive to keep these “runaway productions” in Los Angeles and to help create jobs in the United States, the EB-5 loan will create and preserve important film production jobs in the region.
Xavier Mitchell, CEO of Providence Film Group, said: “Our company is very happy to receive the EB-5 investment. We worked for years to get this deal. Providence Film Group has major projects underway, and this investment will help bring our projects to life. We easily predict that our list of projects will generate over $ 200 million in revenue. The number of jobs we are going to create cannot be underestimated. With Covid 19 having such a disastrous impact on employment in Hollywood, we are confident that the production climate will greatly benefit from our efforts.
Providence Film Group is not the first film production company to use EB-5 investments for its projects. In the past, and among other companies, Time Warner has borrowed $ 47.5 million, $ 100 million, and $ 125 million in EB-5 funds in three separate deals. Lions Gate Studios borrowed $ 66 million and $ 50 million in two different deals, and Sony received $ 125 million to guarantee its film and television productions. (https://dlgimmigration.com/eb-5-film-fund/).
In addition to EB-5 funding, Valiant Eagle, Inc. is also working with EB5AN to establish its own
EB-5 Regional Center. EB-5 regional centers are designated and approved by the United States Citizenship and Immigration Services (USCIS) and are the country’s official USCIS clearing centers for all EB-5 investments in their respective regions. Owning a regional hub will give Valiant Eagle Inc. the autonomy to formulate and execute its own formally sanctioned EB-5 investment proposals in its specific geographic region, including acquisitions, such as theaters, that are synergistic with its business model.
Mitchell goes on to say, “The opening of our regional center now allows us to build our own mini large film production studio which will include sound stages, a mixed-use residential building and a multi-purpose smart arena. In addition, it also propels us into the world of production finance. We will fund 5 to 10 productions outside of our umbrella and also co-fund studio projects ”.
Details of the current PFG film roster will be released as the projects themselves mature. The current production roster includes near-feature motion pictures and TV shows spanning action, drama, horror, romantic comedy, sports-based, faith-based, and allure genres. the music.
Providence Film Group’s involvement in the EB-5 visa program will bring significant financial resources to the company and the projects it produces.
Updates will be coming.
Legal notices 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 document contains statements about expected future events and / or financial results that are forward-looking in nature and are subject to risks and uncertainties. This includes the possibility that the business described in this press release may not be concluded for any reason. This may be the result of technical, installation, licensing or other issues 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 differ materially from the statements contained herein. Except for any obligation under United States federal securities laws, Valiant Eagle, Inc. assumes no obligation to publicly update any forward-looking statement as a result of new information, future events or otherwise.
About Valiant Eagle, Inc
Valiant Eagle, Inc. (OTC Pink: PSRU) is a publicly traded company focused on energizing celebrity entertainment, social media, and television communications. VE aims to make an unprecedented breakthrough in media through music, sport and, as the Millennials are concerned, through technology. Technology is more than ever an important part of our life, especially in the last century. With advantages like speed, accuracy, unlimited information and more, the internet has provided various means to communicate without delay or difficulty. However, a level of consumer satisfaction has not yet been reached. Valiant Eagle, Inc. seeks to fill this void.
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About Providence Film Group
the Providence Film Group is a Los Angeles-based entertainment studio whose industry offerings serve the multi-billion dollar film, television and music industries. Providence Films focuses on film production, television production, home video acquisition and distribution and the development of new entertainment opportunities with an innovative and focused style.
Providence Film Group