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SOURCE Rangemore Film Productions Corp.
MIAMI BEACH, FL, Sept. 30, 2013 /PRNewswire/ - Rangemore Film Productions Corp. ("Rangemore") (OTCPINK:RANF) wishes to summarize in chronological order the corporate events that
occurred during the summer months of 2013:
May 14, 2013: Rangemore announced that management had approved a plan to
commence the search for potential acquisition to expand the studio
operations. The expansion plan would identify suitable properties in
four key markets: Asia, South Africa, Europe and North America.
May 24, 2013: Rangemore announced that it had come to a preliminary
agreement to participate in the royalties of a major independent film
production currently under development in the United Kingdom. The
agreed upon terms allow Rangemore to purchase up to 10% interest in the
June 18, 2013: Management announced the initial results identifying
suitable properties for acquisition under the previously announced
studio expansion plan. The studio expansion plan is now well underway.
August 12, 2013: Rangemore successfully quoted its common shares on the
OTC Pink - Current Information Tier of the OTC Pink Marketplace.
August 20, 2013: Rangemore signed a revenue sharing agreement with
Appiphany Technologies Holdings Inc. to purchase up to 10% of the net
revenues generated by the first ten episodes of the MMA Animals cartoon
September 3, 2013: Rangemore announced that it had commenced the process
to become fully reporting with the Securities and Exchange Commission.
September 11, 2013: MMA Animals was featured on the CBC Radio talk show
September 12, 2013: Rangemore announced that it had reduced its accounts
payable by over $85,000 through debt settlement eliminating almost all
third party debt. Rangemore is almost completely debt free with the
exception of amounts owing to related parties. The shares were issued
from treasury at par value or $0.001 which was double the current
market price and are subject to the standard hold periods enforced by
"We continued to be productive even through the slow summer months"
stated Andrew McLaughlin, CEO of Rangemore. "We started the process to
expand the studio operations, signed two revenue sharing agreements,
became a 'Current Filer' with OTC Markets, eliminated almost all of our
third party debt and commenced becoming fully reporting with the SEC.
We are right on schedule with our six month goals. Although we
continue to be disappointed with the performance of our share price, we
are confident that our efforts will be rewarded in the long run. We
thank all of our shareholders for their continued support" continued
About Rangemore Film Productions Corp.
Rangemore Film Productions Corp. is a publicly traded company who is in
the business of operating film studios and co-producing independent
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 revenue sharing agreement with an independently produced feature
film and a second agreement with a ten episode cartoon series.
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 Inc'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.
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