Auctions commences process for name and symbol change
MIAMI BEACH, FL, Jan. 24, 2013 /PRNewswire/ - Auctions International, Inc. ("Auctions") (OTCPINK: AUCI) would like to announce to its shareholders that Auctions has begun the process of changing its name from Auctions International Inc. to Rangemore Film Productions Corp. to reflect the anticipated completion of the previously announced merger between Auctions and Rangemore Productions Corp. The process will involve the filing of a Certificate of Amendment with the State of Nevada and an application to FINRA (Financial Industry Regulatory Authority) to recognize the new name and request a new trading symbol. It is expected that the approval process should take no more than four to six weeks. Current shareholders of Auctions do not have to take any action as their shares will automatically convert over to the new name once the name and symbol change have been approved and taken effect.
About Auctions International, Inc.
Auctions International, Inc. is a publicly traded company whose core business was 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. As a result, on December 31, 2012, Auctions entered into a Merger Agreement with Rangemore Productions Corp. For more information on Rangemore Productions Corp. please see below or visit www.rangemoreproductions.com.
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 business activities.
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.