October 4, 2022

Catalyst Content Festival Celebrates Indie Storytelling In Duluth

(minnpost.com)

 “With the support of the government now, it’s an incredible opportunity and resource for filmmakers to come here,” said Kimberley Browning, a filmmaker and director of programming for the festival. “This is such a great film community that doesn’t necessarily hit New York or LA and we’re hoping this will help cross pollinate.”

Beginning the last Wednesday of September and going through Saturday, downtown Duluth was abuzz with filmmakers, producers, writers, and actors participating in the Catalyst Content Festival, run by Catalyst Story Institute. It’s an intensive four days of panels, screenings, script reading and pitch sessions, with awards given out at the conclusion. Focused on episodic storytelling, including TV projects, podcasts, and web series ideas, the festival brought creatives from the coasts and Midwest film and TV folks together at different spaces in Duluth. Centered around the iconic Fitger’s Inn and Brewhouse and the Zeitgeist Center for Arts & Community — which holds two screening rooms, a stage theater, and a restaurant —the festival also expanded into various bars, restaurants and coffee shops.

On the first night of Catalyst, the bars at Fitger’s were packed with screenwriters, directors, actors, and other industry professionals hobnobbing and networking late into the night. Sam Christienson, an assistant manager at Fitger’s, attributes a packed bar late on a weekday night to the Catalyst crowd. “It’s great to see the Barrel Room this busy on a Wednesday,” he tells me.

Catalyst started out as the ITVFest (The Independent Television Festival) in Los Angeles. It moved to Vermont in 2013 under direction of the current executive director Philip Gilpin. Then in 2018, Vermont dropped its support for television and film projects, prompting Gilpin to find a new location. They moved the festival to Duluth in 2019, the same year Minnesota passed tax incentives for film projects, and rebranded as Catalyst.

Shelli Place, an actor and theater director who co-directs Twin Cities-based Prime Productions, was part of a contingency that helped convince Minnesota legislators to pass tax incentives for film and TV projects in Minnesota.

In 2021, Minnesota passed a sweeping $5 million in incentive money, followed by additional incentives from St. Louis County and the Duluth Economic Development Authority.

Now, Place says, her group is working to convince lawmakers to extend the incentives. “In this industry, it takes a while,” she says. “If we had three series here going on at the same time, the amount of work for the craftspeople and designers and the truckers and everything, it would build the community so much all the way from the Iron Range and Duluth down to the Twin Cities.”

“I think having the new tax incentives is a game changer for both the television and feature film market,” says Kimberley Browning, a filmmaker and director of programming for the festival. She is based in Los Angeles and met Gilpin when they both  In the festival, Browning curated a panel about making unscripted content— which can mean a documentary series, but also a podcast, one of the hottest new markets for an emerging creator to get into right now. In Q&As after film screenings, she had a supportive and insightful presence as she probed filmmakers about their process and journeys.

Browning says the festival offers a way for producers on the coasts to get to know all that Minnesota has to offer. It’s also a way to showcase the unique visual landscape of Northern Minnesota. “The history of this place is mind blowing,” she says. Duluth has a unique visual footprint, between Lake Superior, historical architecture from the 1940s and 50s, as well as a film community that have been here all along.

“With the support of the government now, it’s an incredible opportunity and resource for filmmakers to come here,” Browning says. “This is such a great film community that doesn’t necessarily hit New York or LA and we’re hoping this will help cross pollinate.”

One local industry person who is seeing the benefits of a renewed support for the industry is Trent Edgerton, who owns Sound Central Production Services, an audio-visual production company based in Duluth. On Wednesday, he was setting up glowing red pillars for the first day of the festival. His company also supported the festival with projections, microphones, and audio equipment.

“You can feel the buzz,” he says of the energy the Catalyst Festival brings. “You can just feel a little change towards the arts and the vibe of it all.”

There’s also Dan Olson, who makes both narrative and documentary films. He moved back to Minnesota after stints in LA and New York around 2015.  “I did not know if I would be able to find work or what it would be like.” He did find work with a company in the Twin Cities called Intuitive Content, and works creatively when he can, including pitching his script at the festival.

Filmmakers from outside of Minnesota also came to Duluth for opportunities and connections. New York-based Vaughn Jefferson, also known as Buddha Chief, was ready with postcards for the docuseries about his life, called “The Cure Rator,” directed by Sam Long. Long met Jefferson through a magazine Long’s wife runs called Honey Suckle Magazine. The magazine is partnering with The Buddha Chief on the new docuseries, and have made the first two episodes. They held a screening at Catalyst, and Long continued to film Vaughn as he pitched and networked throughout the week. He’d follow Jefferson after panels as he handed out posters or talked to producers and agents. “It’s kind of meta,” Long says.

The festival for the team is the next step for the docuseries, which they are planning to extend.

“When we got into this festival, I was incredibly excited,” Long says. “I think the work Philip has been doing and how he’s able to pivot and stay on top of what the television industry really is at that moment. You’re genuinely rubbing elbows with the exact people you want to talk to. As a creator, there couldn’t be a better festival.”

By: Sheila Regan

Continue Reading at minnpost.com

SoLVBL Solutions Inc. To Acquire Market Leading Digital Entertainment Company Darkhorse Films Limited

(yahoo.com)

 

Toronto, Ontario–(Newsfile Corp. – October 4, 2022) – SoLVBL Solutions Inc. (CSE: SOLV) (OTCQB: SOLBF) (“SoLVBL” or the “Company“), an innovative cybersecurity company that provides immutable data authentication using advanced cryptography on a SaaS based model, is pleased to confirm that, subsequent to its previously announced letter of intent (see press release dated September 13, 2022), the Company has entered into an arm’s-length Share Purchase Agreement to acquire Darkhorse Films Limited (“Darkhorse“) a United Kingdom registered blockchain powered digital entertainment & e-commerce business (“the Acquisition“). No finder’s fees are payable in connection with the Acquisition.

Purpose of The Acquisition:

The purpose of the Acquisition is to immediately expand the SoLVBL suite of digital products, monetise its technology and to use its Q by SoLVBL^TM flagship cybersecurity technology within new business verticals. The Acquisition allows SoLVBL unrestricted access to Darkhorse’s worldwide digital relationships, whilst forging a potentially lucrative revenue stream in the film, content production and film distribution markets. The Company’s board and senior management team believe the purchase of Darkhorse will provide the Company with access to long-term private and public capital markets, greater flexibility and will accelerate its strategic business growth plan.

Kaiser Akbar, President & CEO of SoLVBL stated: “This is an exciting day for the Company and its shareholders. The SoLVBL team has been working hard to bring our data authentication/cyber security product to market and to identify worldwide opportunities for this technology. We believe that this acquisition is an exceptional first step to gaining a foothold in the European and North American cyber security markets. This acquisition almost doubles the size of our technology team, allowing us to on-board new customers quickly and efficiently, and will allow us to generate revenue expeditiously. This acquisition will further allow us to benefit from existing synergies with our acquisition partner, particularly, in the digital film content production and distribution market in Europe and in the United States. We will continue to actively assess further synergistic acquisitions and continue with our client diversification strategy, all with a view to diversify and grow our business, so as to provide increased shareholder value. We are thrilled to be working with the Darkhorse team as they share our vision for the strategic direction of SoLVBL.”

The Share Purchase Agreement:

Pursuant to the terms of the Share Purchase Agreement, the Company has agreed to acquire 100% of the common shares of Darkhorse Films Limited in an arm’s-length transaction. The anticipated closing date is October 13, 2022 and will result in the shareholders of Darkhorse holding approximately 115,384,615 SoLVBL Common Shares or approximately 43% of the issued and outstanding shares of the Company.

The parties have agreed to value SoLVBL Common Shares at 6.5 cents, which a 217% premium to the last closing price of SoLVBL Common Shares on the CSE (Thursday, September 29, 2022, closing price of SOLV: $0.03). At 6.5 cents, the 115,384,615 SoLVBL Common Shares are valued at approximately, $7.5 million.

The Share Purchase Agreement contains customary covenants and representations and the final share allocation is subject to post-closing adjustments. The Company’s Board of Directors approved the addition of two (2) board members including the current Darkhorse Director and Co-Founder Mr. David van Herwaarde. On closing, key Darkhorse employees such as Mr. Terry Stone (the acclaimed, award-winning British actor and movie producer) will join the SoLVBL operating team.

The total purchase price is $10.15 million (Ten Million One Hundred & Fifty Thousand Dollars). 25% of the purchase price will be settled in cash and 75% in restricted shares of SoLVBL The 25% cash portion of the purchase price will be payable in tranches and only once certain operational and financing milestones have been met, which include the Company completing an aggregate financing of $10 million within 24 months of the closing of the Transaction.

The cash portion of the purchase price is payable as follows:

$1 million payable to the vendors of Darkhorse, if the Company raises at least $4 million in private placement financing within 12 months from the closing of the Transaction, and an additional $1.5 million is payable, if the Company raises an additional $6 million of private placement financing within 24 months.

No finder’s fees are payable in connection with the Acquisition.

All shares issued to Darkhorse shareholders in connection with the transaction are subject to an escrow of a minimum of one (1) year and are subject to voting trust agreements typical for these types of transactions. The escrow conditions for the shares will include their release based on the Company meeting certain financing milestones.

Upon closing of the Acquisition, Darkhorse will become a 100% wholly-owned subsidiary of SoLVBL and will continue to operate under the existing Darkhorse Films brand, while ensuring the quality and continuity of service that it has delivered to date.

The post transaction consolidated statements of SoLVBL and its subsidiaries will include the assets and liabilities of Darkhorse which, at June 30, 2022 comprise of total assets of $145,862, total liabilities of $129,248 and a contributed surplus of $1,478,830.

The Acquisition is also subject to customary regulatory and CSE approvals. The Company intends to update its shareholders and the market of the Acquisition particulars upon the completion of the Closing.

Terry Stone, Director of Darkhorse Films Limited stated: “This transaction is a significant milestone achievement in the Darkhorse Films early to mid-term strategy. We can now accelerate and expand our presence in new markets such as the US and Canada with a view to further develop our pool of content and rapidly scale our film and digital focused consumer base. Making film content is the heart of the Darkhorse business and we now have a larger platform to leverage and expand into. I personally would like to thank the whole team for their dedication in this process and we look forward to delivering value to all of the existing and potentially new stakeholders”.

About Darkhorse Films Limited:

Darkhorse is a blockchain powered digital movie content studio. The company operates and commercializes its business via a highly scalable fully integrated digital Technology Stack.

Darkhorse’s revenue is generated from movie content distribution and traditional/digital e-commerce transactions.

The company’s e-commerce operations include a digital content sales platform and a digital marketplace, within a full vertically integrated digital ecosystem. The company specializes in the deployment of entertainment focused digital assets to the movie and television industries and Next-Gen digital entertainment enthusiasts. Darkhorse acts as a global gateway where sales of traditional and digital assets take place directly to customers within the company’s and its partners’ global digital ecosystems.

Darkhorse links and commercializes the traditional and the new forward-thinking consumer, with the worlds of film, television, music and digital e-commerce.

SoLVBL Solutions Inc.

SoLVBL is an innovative cybersecurity and data authentication company. The Company’s mission is to empower, better, faster decisions by developing a universal standard for establishing digital record authenticity. Q by SoLVBL™, is a proprietary technology platform of the Company, designed to be easy to use and adopt, economically priced and provide digital record authentication at very high speed. Q by SoLVBL™ allows organizations to establish trust in their data. The Company is currently pursuing the following verticals: The entertainment industry, chain of custody for digital evidence; including, NG-911, data used in the financial sector, medical applications and critical IoT infrastructures.

For Further Information, Contact:

SoLVBL Solutions Inc.

Kaiser Akbar, President & CEO
100 King Street West, Suite 5700
Toronto, ON, M5X 1C7
E: kaiser.akbar@SoLVBL.com

The CSE has neither approved nor disapproved the contents of this press release.

Cautionary Note Regarding Forward-Looking Information

NEITHER THE CSE NOR ITS MARKET REGULATOR (AS THAT TERM IS DEFINED IN THE POLICIES OF THE CSE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE. CAUTIONARY NOTE REGARDING FORWARD-LOOKING INFORMATION: This news release contains “forward-looking information” and “forward-looking statements” (collectively, “forward-looking statements”) within the meaning of the applicable Canadian securities legislation. All statements, other than statements of historical fact, are forward-looking statements and are based on expectations, estimates and projections as at the date of this news release. Any statement that involves discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as “expects”, or “does not expect”, “is expected”, “anticipates” or “does not anticipate”, “plans”, “budget”, “scheduled”, “forecasts”, “estimates”, “believes” or “intends” or variations of such words and phrases or stating that certain actions, events or results “may” or “could”, “would”, “might” or “will” be taken to occur or be achieved) are not statements of historical fact and may be forward-looking statements. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking statements. Such factors include, but are not limited to: the ability of the Company to successfully achieve its business objectives, including, the implementation and success of Q by SoLVBL™, and expectations for other economic, business and/or competitive, factors. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on the forward-looking statements and information contained in this news release. Except as required by law, SoLVBL assumes no obligation to update the forward-looking statements of beliefs, opinions, projections, or other factors, should they change, except as required by law.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/139449

By: Newsfile Corp.

Continue Reading at yahoo.com

New Mexico Tax Climate Improves Under Current Administration

(lcsun-news.com)

 

In a little over three years, the administration of Gov. Michelle Lujan Grisham has delivered more than $400 million in permanent tax cuts for New Mexico families and businesses, more than $1.1 billion of fiscally responsible, emergency tax relief to New Mexicans when they needed it most and made transformative investments for our future in education.

Under any metric, the tax burden on every-day New Mexicans is far lower today than when we took office. That’s especially true for middle class and low-income families.

About 85% of New Mexico seniors will no longer pay state income tax on their Social Security benefits. And nearly 500,000 New Mexico families are already enjoying lower taxes and larger refunds because of expansions to the Working Families Tax Credit and the Low Income Comprehensive Tax Rebate. Military retirees can also now exempt some of their pension from state income tax.

And for the first time in 40 years, the state has cut the gross receipts tax. That’s $94 million in tax relief for all New Mexicans, with another $100 million in relief starting next July when the rate falls even further.

We’ve also stepped up to help New Mexicans when they needed it most, providing $1.1 billion of fiscally responsible, non-recurring relief through rebates in the last two years. The restaurant industry was also able to take advantage of $51 million in tax breaks during the worst of the pandemic. Desperately needed hospital nurses will receive a $1,000 refundable credit when they file their 2022 taxes.

The tax climate for businesses is also better today than it was in 2018. To fight dreaded tax pyramiding and support local business, we’ve created a new deduction for business services sold to manufacturers. The film industry knows it has a trusted partner in New Mexico, thanks in part to improvements to the structure and administration of New Mexico’s leading-edge film production tax credit.

The unfair advantage that large, out-of-state, internet sellers had over New Mexico’s local businesses ended in 2019 when remote sales became subject to the gross receipts tax. That change, along with the legalization of adult-use cannabis, has broadened and diversified our tax base.

These accomplishments together amount to the most significant improvement to our tax code in decades, making it fairer and more competitive. All the while, our property tax remains amongst the lowest in the nation. And with all of that, our fiscal house is stronger than ever. Operating reserves are at historic highs, a new endowment ensures stability for early childhood education, and all New Mexicans can obtain first-rate higher education without going into student loan debt through the newly established Opportunity Scholarship.

The tax code we are building is fairer, more effective, and protects critical services for decades to come. It is advancing families, communities and our economy today and tomorrow.

By: Stephanie Schardin Clarke

Continue Reading at lcsun-news.com