Digiplex Continues Theater Circuit Expansion, Agrees to Acquire 10-Screen Entertainment Complex in Daytona, FL from Paragon

  Digiplex Continues Theater Circuit Expansion, Agrees to Acquire 10-Screen
  Entertainment Complex in Daytona, FL from Paragon Entertainment Group

- 10-Plex Features “My Pi” Custom Pizza and Craft Beer Dining Concept Marking
       Digiplex’s Entry into the Theater-Restaurant Service Business -

Business Wire

WESTFIELD, N.J. & DAYTONA, Fla. -- January 3, 2014

Digital Cinema Destinations Corp. (NasdaqCM: DCIN), a fast-growing motion
picture exhibitor dedicated to transforming movie theaters into digital
entertainment centers, today announced signing of an asset purchase agreement
(APA) to acquire a 10-screen entertainment complex in Daytona, FL (DMA 19)
from Paragon Entertainment Group (“Paragon Theatres”, “Paragon”). Located on
Daytona Beach, the 10-plex is part of the Ocean Walk Shoppes (250 N. Atlantic
Ave. Suite 300), a premier dining, shopping and entertainment destination.
Digiplex’s newest location will also feature “My Pi” Custom Pizza and Craft
Beer, marking the Company’s entry into the theater-restaurant service
business. Digiplex will be licensing the My Pi concept under a licensing
agreement from Paragon Entertainment, LLC.

The all-cash acquisition is expected to be completed during the first quarter
of 2014. Pursuant to the APA, Digiplex will also have right of first refusal
for Paragon Theatres’ 8-plex in Deerfield, FL. Additional terms of the
transaction were not disclosed. This transaction marks Digiplex’s second
announced location in Florida. In October 2013, the Company signed a theater
operating lease commencing April 1, 2014 on a New Smyrna Beach (Daytona DMA
19) 12-screen location, which falls under Digiplex’s JV theater management
agreement, Start Media/Digiplex, LLC.

Digiplex Chairman and CEO Bud Mayo stated, “Since December 2012, Digiplex has
acquired or agreed to acquire 16 theaters and 158 screens and we remain firmly
committed to expanding our national cinema circuit in top markets through our
active M&A program. Significantly, today’s announcement also marks the
Company’s entry into the theater-restaurant service business with the ‘My Pi’
Pizza license. With a high-quality and wallet-friendly made-to-order menu, ‘My
Pi’s’ concept has performed exceptionally well at the Daytona complex. Our
operations team will be able to test and measure ‘My Pi’s’ applicability to
other Digiplex locations as a service beyond our broad selection of concession
products. As a final point, with a large pipeline of expansion opportunities
we believe there is further capacity to build upon the tremendous growth
Digiplex has achieved in the 2013 calendar year,” concluded Mr. Mayo.

Mike Whalen, President of Paragon Theaters, stated, “We are very pleased that
our Daytona location will be in good hands under Digiplex’s innovative
management. Their team has a proven track record and a growing reputation for
bringing expanded entertainment options to appreciative audiences around the
country. Daytona cinemagoers will soon have the chance to enjoy opera, live
sports, curated DigiNext content and much more, as well as the finest in
Hollywood tent-poles and smaller, independently produced titles.”

The 10-screen entertainment complex features large screens with high-quality
Sony 4K digital projection. All auditoriums have stadium style seating, with
VIP luxury recliners and reserved seating available in select auditoriums. The
Daytona theater also includes a premium digital large screen auditorium, with
a 50-foot wall-to-wall, floor-to-ceiling screen featuring state-of-the-art
Dolby Digital Surround Sound.

About Digital Cinema Destinations Corp.(www.digiplexdest.com)

Digital Cinema Destinations Corp. (NasdaqCM: DCIN) is Digiplex Destinations,
dedicated to transforming its movie theaters into interactive entertainment
centers. The Company provides consumers with uniquely satisfying experiences,
combining state-of-the-art digital technology with engaging, dynamic content
that far transcends traditional cinematic fare. The Company's customers enjoy
live opera, ballet, Broadway shows, sports events, concerts and, on an ongoing
basis, the very best major motion pictures. Digiplex currently operates 20
cinemas and 192 screens in AZ, CA, CT, OH, PA and NJ. You can connect with
Digiplex via Facebook, Twitter, YouTube and Blogger.

Pro-forma for all announced transactions, Digiplex will operate 25 theaters
and 243 screens in nine states.

Forward-Looking Statements

This press release contains forward-looking statements. Forward-looking
statements involve known and unknown risks and uncertainties, which may cause
the Company's actual results in future periods to differ materially from
forecasted results. A number of factors, including those described in the
Company's Annual Report on Form 10-K for the fiscal year 2013 and other
filings with the U.S. Securities and Exchange Commission (SEC), could
adversely affect the Company. Copies of the Company's filings with the SEC are
available from the SEC, may be found on the Company's website or may be
obtained upon request from the Company. The Company does not undertake any
obligation to update the information contained herein, which speaks only as of
this date.

Contact:

Digital Cinema Destinations Corp.
Bud Mayo, 908-396-1362
Chairman/CEO
bmayo@digiplexdest.com
or
JCIR
Robert Rinderman / Jennifer Neuman, 212-835-8500
DCIN@jcir.com
 
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