Artemis Cancels Hollywood Film Investment

Artemis Resources Limited (ASX:ARV), an Australian gold and base metals exploration company, resolved that it would not proceed with a proposal to invest in Hollywood film Tango Down.

In a disclosure to the Australian Securities Exchange (ASX), the company said it received commitments and support from many potential investors but the final quantum was not sufficient to enable Artemis to proceed.

Artemis Resources is seeking to create value for shareholders by looking outside of the very challenging landscape facing many junior resource exploration companies.

“While the outcome in this instance is disappointing, the company will continue to look for opportunities,” Artemis said in a statement.

Artemis said it would continue to advance a number of resource projects, including the company’s gold projects in the West Pilbara region of Western Australia. – BusinessNewsAsia.com