Market Overview

Purespectrum Inc. (PSRU:OTC) Acquires Both Providence Film Group and Providence Films


LOS ANGELES, Jan. 08, 2019 (GLOBE NEWSWIRE) -- via OTC PR WIRE -- Purespectrum Inc. (PSRU:OTC) is pleased to announce that it has acquired both Providence Film Group and Providence Films.

Providence Film LOGO
PF PR Jan. 7

OK TV PR Jan. 7

The Providence Film Group is an LA-based entertainment studio that produces television content, while Providence Films produces a vast range of films and documentaries.

Purespectrum will leverage the synergies of these new subsidiaries to create a wealth of quality, in-house content for OKTV, its subsidiary broadcast entertainment network. There is an ambitious content calendar that has been announced as the network aims to produce 5-7 feature films each year alongside 8-10 television shows. Additionally, future plans of Providence Films include the building of 2 full service state of the art production studios in California and Georgia. 

The studios will be designed to increase employment to locals while taking advantage of available incentives provided by the state.

OKTV has enjoyed a year of immense growth, announcing record viewership figures as well as a wide range of new partnerships and acquisitions. This growth has been, in part, fueled by the variety of content that the network offers to its users on demand. This offering will be further enhanced by this recent acquisition as Providence Film Group has produced a host of quality content such as Laugh at LA, Going Beyond Story, Next Up, Mixher, Notcho Average Family, Ambush Karaoke, Opportunity Knocks, and more.

Providence Films, for its part, produced a feature documentary called Fathers of the Sport which featured Dr. J, Joe Bryant (Kobe Bryant's father), Penny Marshall, and many other basketball legends. The critically acclaimed film was directed by Xavier X Mitchell and was released in theaters. It is currently running on Amazon and Starz, but will also air on OKTV in March 2019.

Commenting on these recent acquisitions, OKTV's CEO Xavier X Mitchell states, "These acquisitions are a great way to end the year. It means that 2019 will see our network populated with even more quality programming that our audiences adore and flock to. This will, of course, be great for business and audiences alike."

About OKTV
OKTV (Opportunity Knocks Television) is a broadcast entertainment network offering 24/7, 365 days a year programming. Viewers are able to enjoy original programming, TV series, documentaries and feature films across a wide variety of genres. The network can be watched from viewers as much as they want, anytime, anywhere, on any Internet-connected screen TV or mobile device.

The network debuted in March, 2018 and is available in the U.S. on DirectTV, and also accessible via Roku, Amazon Fire, and Rabbit TV. OKTV also streams live on its Facebook page and via Phillips and Samsung Smart TVs, as well as on the app TVtogo.

About Providence Film Group
Providence Films is a Los Angeles based entertainment studio whose industry offering's service the multi-billion dollar motion picture, television and music industries. Providence Films foci consist of motion picture production, television production, home video acquisition and distribution, and the development of new entertainment opportunities in an innovative and targeted style.

Phone: 747-666-5677
Social Media: @oktvlive

Legal Notice Regarding Forward-Looking Statements:

This press release contains forward-looking information within the meaning of section 27A of the Securities Act of 1933 and section 21E of the Securities Exchange Act of 1934 and is subject to the safe harbor created by those sections. This material contains statements about expected future events and/or financial results that are forward-looking in nature and subject to risks and uncertainties. That includes the possibility that the business outlined in this press release cannot be concluded for some reason. That could be as a result of technical, installation, permitting or other problems that were not anticipated. Such forward-looking statements by definition involve risks, uncertainties and other factors, which may cause the actual results, performance or achievements of Purespectrum Inc. to be materially different from the statements made herein. Except for any obligation under the U.S. federal securities laws, Purespectrum Inc. undertakes no obligation to publicly update any forward-looking statement as a result of new information, future events or otherwise.

Purespectrum logo.jpg

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