Rangemore corporate update for spring 2013
MIAMI BEACH, FL, May 1, 2013 /PRNewswire/ - Rangemore Film Productions Corp. ("Rangemore") (formerly Auctions International Inc.)(OTCPINK:RANF) wishes to summarize in chronological order the corporate events that have occurred during the first four months of 2013:
- Jan 8, 2013: Auctions International Inc. announced that it had entered into a definitive Merger Agreement with Rangemore Productions Corp. effective December 31, 2012. It was expected that the merger would close before the end of March, 2013. At closing Rangemore and Auctions would become one entity operating under the name Rangemore Film Productions Corp.
- Jan 22, 2013: Auctions International Inc. announced that it has received and accepted consents from Mr. Andrew McLaughlin and Mr. Richard Smith to join its board of directors. Mr. McLaughlin also joined as the new CEO and Mr. Smith as Secretary and Treasurer. The new appointments were a direct result of the previously announced planned merger between Auctions International Inc. and Rangemore Productions Corp.
- Jan 31, 2013: Auctions International Inc. received majority shareholder approval to change its name from Auctions International Inc. to Rangemore Film Productions Corp.
- Feb 19, 2013: Auctions International Inc. announced the commencement of the marketing phase of the new business plan. The core focus is to attend and present at high profile film industry events to generate leasing business for the studio and identify potential joint film production opportunities.
- Feb 20, 2013: Auctions International Inc. announced that Andrew McLaughlin, the new CEO attended the first of a series of high profile film industry events as part of the previously announced marketing strategy. By attending this event a number of promising opportunities were presented.
- March 8, 2013: Auctions International Inc. announced it had negotiated an understanding with Flick Me Productions Limited to acquire the right to participate in the royalties of Flick Me's independently produced film projects.
- March 11, 2013: Auctions International Inc. announced that it has opened an office in Manchester, England. The new office is located a few minutes' drive from MediaCityUK, the new home to BBC and ITV.
- March 13, 2013: Auctions International Inc. announced that Auctions and its joint venture partner Flick Me Productions was in negotiations to finance and produce a 13 episode cartoon series. This negotiation is still ongoing pending the submission of the completed scripts and approval by HMRC to issue tax credits to raise the capital.
- March 27, 2013: Auctions International Inc. announced that it had filed the necessary documents with the State of Nevada to change its corporate name from Auctions International Inc. to Rangemore Film Productions Corp.
- March 28, 2013: Auctions International Inc. announced that the State of Nevada had recognized and approved the corporate name change from Auctions International Inc. to Rangemore Film Productions Corp.
- April 1, 2013: Rangemore Film Productions Corp. (formerly Auctions International Inc.) confirmed the closing of its previously announced merger with Rangemore Productions Corp. on March 31, 2013. The surviving entity, Rangemore Film Productions Corp. will be headquartered in Miami Beach with a branch office in Manchester, England.
- April 2, 2013: Rangemore Film Productions Corp. (formerly Auctions International Inc.) announced that it was in revenue as a result of the previously closed merger with Rangemore Productions Corp. The revenue was derived from the studio operations, which are generating income on a monthly basis and have grossed over $275,000 since commencing operations in June, 2012.
- April 3, 2013: Rangemore Film Productions Corp. (formerly Auctions International Inc.) announced that it has successfully filed the documents with the Financial Industry Regulatory Authority ("FINRA") to officially recognize the name change and request a new trading symbol.
- April 9, 2013: Rangemore Film Productions Corp. (formerly Auctions International Inc.) announced that Rangemore's transfer agent had filed an application for a new CUSIP number as part of the process for the symbol change.
- April 18, 2013: Rangemore Film Productions Corp. (formerly Auctions International Inc.) announced that is has been granted a new CUSIP number from CUSIP Global Services as part of the process to change its trading symbol. The new CUSIP number is 75282D 10 2 and takes effect immediately.
- April 23, 2013: Rangemore Film Productions Corp. (formerly Auctions International Inc.) announced that the management of Rangemore had identified the Asian film industry as being poised for exponential growth and as a result was committing a significant portion of their marketing budget to this emerging market.
- April 24, 2013: Rangemore Film Productions Corp. (formerly Auctions International Inc.) announced that it received notification from FINRA that all the necessary documents relating to the name and symbol change had been approved and that a new trading symbol had been granted. The new trading symbol for Rangemore Film Productions Corp. would be RANF and took effect on the opening of business April 25, 2013.
"We had a tremendously productive first four months" stated Andrew McLaughlin, President & CEO of Rangemore. "Not only did we sign and close the merger on time but we commenced the marketing phase of our operations and established a pipeline for film projects through our joint venture with Flick Me Productions. We are right on schedule with the execution of our business plan and are moving forward full speed. We are very excited to be where we are today and looking forward to what the near and long term prospects are for our company. We continue to be disappointed with the performance of our share price but are confident that if we continue to be as productive as we have been these last four months, our efforts will reflect positively in the share price. We thank all of our shareholders for their continued support and we are confident their patience will be well rewarded" continued Mr. McLaughlin.
About Rangemore Film Productions Corp. (Formerly Auctions International
Rangemore Film Productions Corp. (formerly Auctions International Inc.) is a publicly traded company who 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. Along with the studio operations, Rangemore will be actively investing in and producing independent film productions.
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 activities.
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.