Rainmaker Entertainment & Shaftesbury Films Provide Update on Proposed Transaction and Proposed Offering of Units

VANCOUVER, Nov. 12, 2015 /CNW/ - Rainmaker Entertainment Inc. (TSX VENTURE: RNK) ("Rainmaker" or the "Company") and Shaftesbury Films Inc. ("Shaftesbury") announced that pursuant to the previously announced Share Purchase Agreement pursuant to which Rainmaker agreed to acquire all of the shares of Shaftesbury Films Inc. (the "Transaction"), Rainmaker and Shaftesbury have agreed to extend the "Outside Date" for completion of the Transaction to December 15, 2015 from the previous date of November 14, 2015.

Rainmaker and Shaftesbury continue to work to satisfy the conditions to closing of the Transaction, including completion of the previously announced prospectus offering of units (the "Offering") and believe an extension of the Outside Date is in the best interest of a successful completion of the proposed Transaction.  On October 30, 2015, Rainmaker filed with the British Columbia Securities Commission a final prospectus in respect of the Offering, and received a receipt therefor on the same day.

Trading in Rainmaker's common shares on the TSX Venture Exchange was halted prior to the announcement of the Transaction and will remain halted until the Transaction is completed or terminated.    

About Shaftesbury Films Inc.

Shaftesbury is a privately held content company based in Toronto and Los Angeles, with diversified operations spanning the production and distribution of screen-based entertainment for all genres and platforms. Led by CEO, Christina Jennings, with more than 25 years in business, Shaftesbury owns a significant library of 500+ hours of film, television, and digital content sold in Canada and 120 markets worldwide. One of Canada's Top 5 independent production companies with projects sold to leading broadcasters worldwide, Shaftesbury's slate includes David Shore's new series, Houdini & Doyle, for Sony Pictures Television, Shaw Media, ITV and Fox; thriller series Slasher for Super Channel and NBCUniversal's Chiller; nine seasons of Murdoch Mysteries for CBC, UKTV and ITV STUDIOS Global Entertainment; and the global hit Disney kids series Life with Derek. Shaftesbury's digital studio, Smokebomb Entertainment, produces convergent experiences for television and branded entertainment projects including the hit YouTube series Carmilla, funded by the U by Kotex® brand; and fashion-focused series MsLabelled for Shaw Media and Schick® Quattro for Women. Shaftesbury operates through four divisions: Shaftesbury Production (film and television), Shaftesbury Sales (distribution), Shaftesbury U.S. (development) and Smokebomb Entertainment (digital/technology). Shaftesbury also owns a 50% interest in shift2, a brand agency focused on emerging branded entertainment revenue opportunities. For more information visit http://shaftesbury.ca.

About Rainmaker Entertainment

Based in Vancouver, British Columbia, Rainmaker Entertainment Inc. is a multifaceted animation studio and one of Canada's largest producers of CG animation. Rainmaker's first feature film, Escape From Planet Earth (distributed by The Weinstein Company), opened on 3,200 screens across North America. Originally established as Mainframe Entertainment, the Company produced the first ever CGI animation series, ReBoot, and over the course of its 15+ years of innovative history, Rainmaker has continued to break new ground in animation, telling engaging stories and creating compelling characters for all media. In addition to projects Rainmaker has produced with partners and clients including Mattel, The Weinstein Company, Hasbro, Lionsgate and Sony, Rainmaker also develops proprietary projects. Since announcing its return to television development and production in 2013 under the Mainframe Entertainment banner, two animated series are currently in the pipeline: in Fall 2013, the Company announced its plans to develop a new version of its iconic CG-animated ReBoot series; and in April 2014, the Company began production for HIT Entertainment of 104 10-minute episodes of the new CG-animated Bob the Builder series. For more information, visit www.rainmaker.com.

Neither TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this press release.

SOURCE Rainmaker Entertainment Inc.

For further information: For Investor Relations: Bryant Pike, CFO, Rainmaker Entertainment Inc., investor@rainmaker.com, 604.714.2600

Organization Profile

Rainmaker Entertainment Inc.

More on this organization

Custom Packages

Browse our custom packages or build your own to meet your unique communications needs.

Start today.

CNW Membership

Fill out a CNW membership form or contact us at 1 (877) 269-7890

Learn about CNW services

Request more information about CNW products and services or call us at 1 (877) 269-7890