Auctions International appoints transitional management team
MIAMI BEACH, FL, Jan. 22, 2013 /PRNewswire/ - Auctions International, Inc. ("Auctions") (OTCPINK: AUCI) is pleased to announce that it has received and accepted consents from Mr. Andrew McLaughlin and Mr. Richard Smith to join its board of directors. Mr. McLaughlin will also be joining Auctions as the new CEO and Mr. Smith as Secretary/Treasurer. The new appointments are a direct result of the previously announced merger between Auctions and Rangemore Productions Corp. ("Rangemore") and take effective immediately. Doug Mann will remain temporarily a director and President of Auctions to assist with the transition.
Mr. McLaughlin was educated at Oglethorpe University and currently resides in Miami Beach, Florida. Mr. McLaughlin has background in business management with extensive experience in developing and marketing commercial real-estate. He was very instrumental in Rangemore's negotiations for Island Studios (the "Studios"). Mr. McLaughlin will be active in the day-to-day operations of the Studios while being responsible for sourcing independent film projects aimed at enhancing Rangemore's bottom line. Mr. McLaughlin's extensive negotiating skills together with his strong project management background will be invaluable in the operations of the Studios and the development and marketing of related film and TV projects.
Mr. Smith has over 20 years of experience in the investment industry with a specialty in micro cap IPOs and mergers. His extensive knowledge of the investment industry was garnered by years of experience in all areas of the industry including a two year tenure as the Manager of Listings for Western Canada for the Canadian National Stock Exchange. He was a pioneer in cross listing companies between North America and Europe; being the first to list a CNSX traded company on the Berlin Stock Exchange. His wide range of knowledge and contacts have made him invaluable with client companies, being able to advise on market strategy and arrange funding in a timely manner. Mr. Smith will be responsible for closing the merger between Auctions and Rangemore and providing ongoing public market support and financing to successfully implement the new business plan.
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.