MIAMI BEACH, FL, Dec. 4, 2012 /CNW/ - Auctions International, Inc. ("Auctions") (OTCPINK: AUCI) is pleased to announce that in anticipation of the closing of the
merger between Auctions and Rangemore Productions Corp. ("Rangemore"),
both parties have completed their pre-condition due diligence and are
moving forward to signing and closing a definitive Merger Agreement.
About Auctions International, Inc.
Auctions International, Inc. is a publicly traded company whose core business is the development and
implementation of a proprietary technology that enables virtual
auctions for any type of product or commodity over the internet. In
addition to the development and launch of its technology, the
management of Auctions is dedicated to identifying and acquiring
undervalued opportunities that have significant upside with the focus
being to add to shareholder value.
On October 24, 2012, Auctions announced that it had entered into a
binding Letter of Intent to merge with Rangemore Productions Corp.
Auctions is a Development Stage Company, as defined by Financial
Accounting Standards Board ("FASB") Accounting Standards Codification
("ASC") 915, Development Stage Entities, and has not yet generated significant revenues from their intended
About Rangemore Productions Corp.
Rangemore Productions Corp ("Rangemore") is an independent film company
that operates a film studio on the Isle of Man known as Island
Studios. Island Studios is a complete film production facility located
two miles outside the town of Ramsey and is approximately 7 acres in
size and houses a film studio, sound studio, make-up studio, dressing
rooms, canteen and dormitory, administration offices, and storage
facility. The studios have been operating since 2002. Along with the
studio operations, Rangemore will be actively producing independent
film productions. Management of Rangemore is in the process of
reviewing a number of film projects and joint venture opportunities.
Except for the historical information contained herein, the matters
discussed in this press release are forward-looking statements. Actual
results may differ materially from those described in forward-looking
statements and are subject to risks and uncertainties. See Auctions'
filings with OTCMarkets which may identify specific factors that may
cause actual results or events to differ materially from those
described in the forward-looking statements.
SOURCE: Auctions International, Inc.
For further information:
For more information on Auctions International, Inc. please call 250.317.8885 or email firstname.lastname@example.org
For more information on Rangemore Productions Corp. please visit www.rangemoreproductions.com or call 305.851.2469.