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Bonfire Productions, Inc.: Bonfire Productions Clarifies Ambiguity on Previously Announced Merger Agreement

^{Published on 2009-10-06 06:16:52 - Market Wire}
 

CARSON CITY, NV--(Marketwire - October 6, 2009) - On Wednesday, August 12th, 2009, Bonfire Productions (OTCBB: [ BNFR ]) announced that the company had merged with streaming media technology pioneer Intervision Network (IVNet). The two companies did execute an Agreement and Plan of Merger on that date. However, the companies only closed the deal to merge the two companies on that date and did not complete the merger. As of this date, the merger has not been completed.

This morning, at 9:00am ET, resignations became effective for Tim DeHerrera as CEO and President and Board Member, Richard A. Luthmann as EVP and General Counsel and Board Member, and P. James Voloshin as Board Member of Bonfire Productions.

Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: This release contains forward-looking information. Statements that are not descriptions of historical facts are forward-looking statements provided under the "safe harbor" protection of the Private Securities Litigation Reform Act of 1995. These statements are made to enable a better understanding of our business, but because these forward-looking statements are subject to many risks, uncertainties, future developments and changes over time, actual results may differ materially from those expressed or implied by such forward-looking statements. Examples of forward-looking statements are statements about anticipated financial or operating results, financial projections, business prospects, future product performance and other matters that are not historical facts. Such statements often include words such as "believes," "expects," "anticipates," "intends," "plans," "estimates" or similar expressions.

These forward-looking statements are based on the information that was currently available to us, and the expectations and assumptions that were deemed reasonable by us, at the time the statements were made. We do not undertake any obligation to update any forward-looking statements in this report or in any of our other communications, except as required by law, and all such forward-looking statements should be read as of the time the statements were made, and with the recognition that these forward-looking statements may not be complete or accurate at a later date.