Raven Moon Offers Additional Club House Videos, Inc. Dividend to Shareholders of Record
ORLANDO, Fla., Aug. 25, 2004 (PRIMEZONE) -- Raven Moon Entertainment, Inc. (OTCBB:RVNM) is pleased to announce that they will be issuing an additional Clubhouse Videos Inc. dividend to shareholders of record as of September 15, 2004, once Clubhouse Videos Inc. begins trading.
The additional Clubhouse Videos Inc. dividend will allow Raven Moon Entertainment to relinquish any influence it may have over Clubhouse Videos, Inc. Raven Moon Entertainment, Inc. shall pay a dividend of Clubhouse Videos, Inc. shares (approximately 6% of the outstanding shares) currently being held by Raven Moon Entertainment, Inc. to Raven Moon Entertainment, Inc. shareholders of record as of September 15, 2004, once Clubhouse Videos, Inc. begins trading.
Raven Moon recently granted Club House Videos Inc. a one year extension for the distribution of the "Gina D's Kids Club" videos, DVDs, and music CDs. The original deal resulted in a $1.8 million reduction of Raven Moon's debt and a stock dividend for all of Raven Moon's shareholders. Club House Videos received the rights to many of "Gina D's Kids Club's" videos, DVDs, and CD products including the Christmas Special. The "Gina D's Kids Club" Television Show has inspired fourteen products of which Club House Videos has the exclusive rights; "Gina D's Kids Club" Volume 1, ("Join The Club"), "Gina D's Kids Club" Volume 2, ("Good News"), "Gina D's Kids Club" Volume 3, ("Smile-A-bility"), the "Gina D's Kids Club" Three Episode DVD, "Gina D's Cuddle Bug Christmas" VHS and DVD, the "Gina D's Kids Club" Music CD Volume 1 & 2, the "Young America" Limited Edition CD single, "Gina D's Dance Party Music CD", the "Sing A Long With Gina" VHS and DVD, "Cuddle Bug" plush toy, and the "Christmas Cuddle Bug".
As part of the new agreement Club House had the right to acquire new "Gina D's Kids Club" videos, DVDs, and CDs for $300,000 per Video/DVD and $100,000 for each "Gina D's Kids Club" Music CD plus 25% of gross revenues to be paid to Raven Moon Entertainment.
"The new agreement gives Raven Moon a bigger piece of the pie," stated Joey DiFrancesco, Raven Moon, CEO.
Raven Moon Entertainment has recently completed 13 episodes of "Gina D's Kids Club" and has begun syndicating the program nationwide to ABC, FOX, UPN, and PBS stations. "Gina D's Kids Club" will be airing in New York, Los Angeles, Philadelphia, Las Vegas, Maryland and many other states and cities across the country.
Raven Moon will continue to update shareholders as they add new stations to their line up. Please visit www.ravenmoon.net for details