The Globe and Mail

Go to the Globe and Mail homepage

Jump to main navigationJump to main content

Press release from Marketwire

Rainmaker Entertainment Announces Financial Closing of Its Next Feature Length Animated Film

Wednesday, February 20, 2013

Rainmaker Entertainment Announces Financial Closing of Its Next Feature Length Animated Film08:05 EST Wednesday, February 20, 2013VANCOUVER, BRITISH COLUMBIA--(Marketwire - Feb. 20, 2013) -NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR RELEASE, PUBLICATION, DISTRIBUTION OR DISSEMINATION DIRECTLY, OR INDIRECTLY, IN WHOLE OR IN PART, IN OR INTO THE UNITED STATESRainmaker Entertainment Inc. (TSX:RNK) announces, further to its press release dated January 7, 2013, that financial closing has occurred in respect of its next computer generated feature length animated film. The film will be co-produced with Blockade Entertainment LLC ("Blockade") pursuant to an agreement executed among Rainmaker, Blockade and Entertainment Financial Consultants, LLC dba Film Financial Services. Rainmaker has agreed to contribute $5.5 million in cash for a majority interest in the film, subject to the potential negotiation of participation from additional parties.Pre-production of the film commenced in January with production currently scheduled to commence on March 4, 2013. The title of the film will be announced separately upon receipt of the consent of the third party rights holder. Completion of the film remains on schedule for third quarter 2014.The announcement follows a successful opening weekend for Rainmaker's first feature film, Escape from Planet Earth, distributed by The Weinstein Company, which grossed approximately US$21 million during its first four days in theatres. Forward-Looking StatementsCertain information set forth in this press release contains "forward-looking statements" and "forward-looking information" under applicable securities laws. These statements relate to future events or future performance and include, but are not limited to, statements regarding the timing of the Rights Offering. The words "may", "would", "could", "will", "intend", "plan", "anticipate", "believe", "estimate", "expect", and similar expressions are often used to identify forward-looking statements. By their very nature, forward-looking statements involve inherent risks and uncertainties, both general and specific. In evaluating these statements, readers should specifically consider risks which may cause actual results to differ materially from any forward-looking statement. The forward-looking statements contained herein are based upon certain assumptions considered reasonable at the time they were prepared. Should one or more of the risks or uncertainties identified herein materialize, or should the assumptions underlying the forward-looking statements prove to be incorrect, then actual results may vary materially from those described herein. In respect of Rainmakers business generally, readers should also refer to Forward-looking Statements in the Management Discussion & Analysis for the third quarter of 2012. Readers are cautioned not to place undue reliance on forward-looking statements. Except as required by applicable securities laws, Rainmaker does not assume any obligation to update the forward-looking statements contained herein.About Rainmaker Entertainment Rainmaker Entertainment Inc., a multifaceted animation studio, is one of Canada's largest producers of CG animation. Rainmaker's first feature film Escape from Planet Earth, distributed by The Weinstein Company, enjoyed its theatrical release on February 15, 2013. For more information, go to FOR FURTHER INFORMATION PLEASE CONTACT: Contact Information: Rainmaker Entertainment Inc.Michael Hefferon(604) 714-2600(604) 714-5990 (FAX)