Vancouver: Everest Entertainment will receive a substantial injection of capital later this month when publicly traded Toronto-based entertainment company Greenlight Communications completes its purchase of a controlling interest of shares in the Vancouver-based production and distribution company.

Greenlight, which focuses on media, health and education communications, is the parent firm of four operating subsidiaries, Montreal-based DHD PostImage, Healthlink Communications, IKON Systems and Internet Canada. It is traded on the Canadian Dealing Network under the symbol gcix. Greenlight and its subsidiaries also have offices in Montreal, New York, l.a., London, Eng. and Raleigh, n.c.

Everest was formed in 1994 by producers Rob Straight and John Curtis, formerly a partner in North American Pictures and North American Releasing.

Straight, chairman of Everest, calls the investment ‘synergistic.’

‘It will allow us to expand our distribution activities, and for Greenlight, a diversified company, it provides them with a distribution arm, the missing link in their operations.

‘One of our goals was to increase the equity we hold in our own productions. That can be achieved through the services provided by their subsidiaries, in particular, their post facility, and through increased access to capital provided by the public vehicle, Greenlight.

‘Greenlight was also very interested in our development expertise, creating and developing feature and television projects with commercial potential,’ says Straight.

He says the new capital will also increase Everest’s available funds for acquisition of new product from producers in Western Canada for distribution in foreign markets.

Everest’s production arm has plans to begin shooting this summer in New York and Mexico on Managua, an action drama starring Lou Gossett Jr., Michael Moriarty and Asumpta Serna, in a coproduction arrangement with New York-based Think Films, and later in the fall on Ocean Boy, a family/action adventure for theatrical distribution to be shot in Vancouver and directed by Jonathon Tammuz.

Curtis, president of Everest, says discussions are still underway regarding the expansion of the company’s distribution sales forces in both l.a. and Vancouver, including the possibility of Paul Gardner, former vp of Cineplex Odeon joining Everest as a shareholder and officer of the company.