MIAMI BEACH, FL, July 10, 2013 /CNW/ - Rangemore Film Productions Corp. ("Rangemore") (OTCPINK:RANF) today announces that management has filed all the necessary internally
prepared documents to become a "Current Information" filer. The final
step of the process is to provide a third party legal opinion and that
is currently being prepared. Upon approval by OTC Markets, it will be
the first time in over five years that Rangemore (formerly Auctions
International Inc.) has been quoted on the "Current Information" tier.
About Rangemore Film Productions Corp. (Formerly Auctions International
Rangemore Film Productions Corp. is a publicly traded company who in the
business of operating film studios and co-producing independent film
Rangemore is currently in the process of identifying and acquiring
studio suitable properties in four key markets: Asia; South Africa;
Europe and North America. Potential acquisition sites will have to meet
certain criteria including: a low cost per square foot; easy conversion
into usable studio space; established local infrastructure; establish
local film industry; limited or non-existent competition; available
government tax incentives and mortgage financeable. The identified
acquisitions will be either purchased outright utilizing debt funding
and tax credit incentive programs or leased on a long term basis.
Along with the studio operations, Rangemore will be actively investing
in and co-producing independent film productions. Currently Rangemore
has a preliminary agreement to participate in the royalties of an
independent film production being developed in the United Kingdom. The
agreed upon terms will allow Rangemore to purchase interest in the film
royalties in exchange preferred shares for up to a maximum of 10% of
the total royalties. The final terms and a definitive agreement are in
the process of being prepared.
Rangemore Film Productions Corp. 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 business
Forward Looking Statements
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 Rangemore
Film Productions Corp.'s 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: Rangemore Film Productions Corp.
For further information:
on Rangemore please call 305-851-2469.
On the web go to www.rangemorefilmproductions.com.