MIAMI BEACH, FL, May 31, 2013 /CNW/ - Rangemore Film Productions Corp. ("Rangemore") (OTCPINK:RANF) would like to update shareholders on the ongoing process to move
Rangemore's trading status on the OTC PINKS from 'Limited Information'
to 'Current Information'.
As previously explained in the press release of May 24th, 2013, the filing document that was originally prepared had to be
rewritten to accurately reflect a number of corporate developments that
had occurred while the process was underway. Management felt that it
was pointless filing outdated information as it did not accurately
reflect the current position and direction of the Company. New
documentation is currently being prepared and management will do
everything in their power to have it filed with OTC Markets within the
next ten business days. Management fully realizes the importance of
this and is completely committed to seeing this process through in a
"We fully understand the importance of becoming a 'Current Information'
filer with OTC Markets" stated Richard Smith, Secretary & Treasurer of
Rangemore. "We are pushing forward as quickly as we can but as we
previously explained, due to a number of corporate developments that
recently occurred, the 'Information and Disclosure Statement' document
had to be rewritten to reflect these positive developments. It is
pointless filing outdated information as it would only have to be
resubmitted at a later date and would cause nothing but confusion"
continued Mr. Smith.
About Rangemore Film Productions Corp.
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
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 the
independent film production 'Fabulust'. 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
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:
For more information on Rangemore please call 305-851-2469.
On the web go to www.rangemorefilmproductions.com