Digiplex Completes Previously Announced Purchase of Baltimore DMA Multiplex
WESTFIELD, N.J. & CHURCHVILLE, Md. -- March 21, 2014
Digital Cinema Destinations Corp. (Nasdaq:DCIN), a fast-growing motion picture
exhibitor dedicated to transforming movie theaters into digital entertainment
centers, today announced the completed acquisition of a seven screen theater
in Churchville, MD (Baltimore DMA 27) from Flagship Cinemas. Consideration for
the acquisition was a combination of cash and DCIN common stock.Additional
financial terms of the transaction were not disclosed.
Digiplex Chairman and CEO Bud Mayo stated, “Digiplex continues its active M&A
strategy as we further expand our unique digital circuit into top US markets.
We have three additional pending locations that would add an aggregate of 32
screens to the Company’s growing footprint and a healthy pipeline of other
expansionary opportunities in various stages of negotiations,” concluded Mr.
Disclosure Regarding Forward-Looking Statements
This press release and other written or oral statements made by or on behalf
of Digital Cinemas Destination Corp. may contain forward-looking statements
within the meaning of the federal securities laws. Statements that are not
historical facts, including statements about our beliefs, expectations and
future performance, are forward-looking statements. Forward-looking statements
are only predictions and are not guarantees of performance. These statements
are based on beliefs and assumptions of management, which in turn are based on
currently available information. The forward-looking statements also involve
risks and uncertainties, which could cause actual results to differ materially
from those contained in any forward-looking statement. Many of these factors
are beyond our ability to control or predict. Risk factors are disclosed in
our Form 10-K for the year ended June 30, 2013 under the caption “Risk
Factors.” We believe these forward-looking statements are reasonable; however,
undue reliance should not be placed on any forward-looking statements, which
are based on current expectations. Further, forward-looking statements speak
only as of the date they are made, and we undertake no obligation to update
publicly any of them in light of new information or future events.
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. You can connect with Digiplex via
Facebook, Twitter, YouTube and Blogger.
Digital Cinema Destinations Corp.
Bud Mayo, 908-396-1362
Robert Rinderman or Jennifer Neuman
212-835-8500 or DCIN@jcir.com
Press spacebar to pause and continue. Press esc to stop.