CinemaONE (CINE1) Raises Multi-Million Funding to Accelerate Strategic ExpansionPublished on : Friday, December 6th, 2019 Categories : Investor News
November 19, 2019 PORT OF SPAIN
CinemaONE Limited a leading premium movie exhibition company and the first Company to list on T&T’s SME Exchange, today announced the closing of a TTD $40M round of debt financing arranged by Guardian Group Trust Limited. The funding will be used to build out CinemaOne’s
premiums VIP cinemas in the Gulf City Mall, San Fernando, re-finance existing debt, and to further expand its national and international presence.
“Our strategy is to offer the best enhanced movie experiences across Trinidad and Tobago and the region” said Brian Jahra Co-Founder and Chairman of CinemaONE. “With the relationships, capital and expertise of Guardian Group Trust Limited, CinemaONE is positioned to not only
complete the build out its second luxuryCineplex site in the South of Trinidad but to also continue bringing innovation to the cinematic experience”.
Supported by its unique distribution capabilities, Guardian Group Trust Limited (GGT) is increasingly playing a more active role in the local and regional capital markets by structuring customized private and public placements. According to Brent Ford Managing Director of
Guardian Group Trust, “CinemaOne is building what we think will be a national and potentially regional chain of movie theatres. Its recent successful IPO launch onto the SME tier of the Trinidad and Tobago Stock Exchange and GGT’s additional raise of long term funding will allow
it to execute its strategic expansion objectives.”
About CinemaOne Limited
CinemaONE Limited, formerly Giant Screen Entertainment Limited, was incorporated on December 11, 2009 for the purpose of licensing and deploying the first IMAX Theatre in the Caribbean region and entering the cinema exhibition market in Trinidad with a highly differentiated, patented IMAX and IMAX 3D technology. In 2016 CinemaONE launched
Gemstone VIP Cinemas, the country’s first luxury seat side service Cineplex and in 2018 CinemaONE completed the build out of its third enhanced movie experience, 4DX, at the high-end One Woodbrook Place in Port of Spain.
About Guardian Group Trust Limited
Guardian Group Trust Limited is licensed under Section 8(2) of the Financial Institutions Act, regulated by the Central Bank of Trinidad and Tobago, which allows the company to transact business as a Trust Company, Merchant Bank, Unit Trust or Financial Services. It operates
multiple investment vehicles and structures financing for large and small to medium enterprises. For information, visit www.cinemaonett.com
Ingrid Jahra, Chief Executive Officer @1 868 355 1959 @firstname.lastname@example.org