No Trades for 10 Days; Camelot will Resume Trading on August 6, 2013
IRVINE, CA, June 23, 2013 — Camelot Entertainment Group, Inc. (OTC: CMGR) (“Camelot”) announced today that its stock has been temporarily halted from trading for a period of 10 days starting today and ending on August 5, 2013. Camelot’s stock will resume trading on Tuesday, August 6, 2013. The trading halt is in connection with a public administrative hearing instituted by the Securities and Exchange Commission (”SEC”) because Camelot, a Delaware corporation located in Irvine, California with a class of securities registered with the Commission pursuant to Exchange Act Section 12(g), is delinquent in its periodic filings with the SEC, having not filed any periodic reports since it filed a Form 10 for the period ended September 30, 2010, which reported a net loss of $8,026,537 for the prior nine months. As of July 18, 2013, the common stock of Camelot was quoted on OTC Link, had ten market makers, and was eligible for the “piggyback” exception of Exchange Act Rule 15c2-11(f)(3).
Camelot has been and is in the process of preparing and bringing its filings current with the SEC. Once Camelot is served with the order notifying the company of the proposed hearing, Camelot’s counsel will file a response with the SEC, notifying them of the progress being made on the filings and requesting an extension which would allow Camelot the time to properly complete its periodic filings and file them with the SEC.
About Camelot Entertainment Group, Inc.: Camelot Entertainment Group, Inc. is a US publicly traded company (symbol “CMGR”) with three subsidiaries: Camelot Film Group, including Camelot Distribution Group, Camelot Studio Group and Camelot Media Services Group. Camelot is building a different kind of motion picture studio infrastructure by redefining the development, financing, production, and distribution process. For information about Camelot Entertainment Group, Inc., please visit our web site at www.camelotent.com.
NOTES ABOUT FORWARD-LOOKING STATEMENTS
Except for any historical information contained herein, the matters discussed in this press release contain forward-looking statements that involve risks and uncertainties, including those described in our Securities and Exchange Commission Reports and Filings.
Certain Statements contained in this release that are not historical facts constitute forward-looking statements, within the meaning of the Private Securities Litigation Reform Act of 1995, and are intended to be covered by the safe harbors created by that Act. Reliance should not be placed on forward looking statements because they involve unknown risks, uncertainties and other factors which may cause actual results, performance or achievements to differ materially from those expressed or implied. Forward looking statements may be identified by words such as estimates, anticipates, projects, plans, expects, intends, believes, should and similar expressions and by the context in which they are used. Such statements are based upon Camelot’s current expectations and speak only as of the date made. The Company undertakes no obligation to update any forward-looking statements to reflect events or circumstances after the date on which they are made.