CinemaONE Ltd on Wednesday announced the closing of a $40M round of debt financing arranged by Guardian Group Trust Ltd.
This funding would 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, the company said in a statement.
“Our strategy is to offer the best enhanced movie experiences across Trinidad and Tobago and the region.”
“With the relationships, capital and expertise of Guardian Group Trust Limited, CinemaONE is positioned to not only complete the build out its second luxury Cineplex site in the South of Trinidad but to also continue bringing innovation to the cinematic experience,” explained Brian Jahra co-founder and chairman of CinemaONE.
Supported by its unique distribution capabilities, CinemaONE noted that Guardian Group Trust Limited (GGT) was increasingly playing a more active role in the local and regional capital markets by structuring customised 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.”
CinemaONE Ltd, formerly Giant Screen Entertainment 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 IMAXand 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 built out of its third enhanced movie experience, 4DX, at One Woodbrook Place, Port-of-Spain.