MIAMI BEACH, FL, April 1, 2013 /PRNewswire/ - Rangemore Film Productions Corp. (formerly Auctions International Inc)(OTCPINK: AUCI) today confirmed the closing of its previously announced merger with Rangemore Productions Corp. effective March 31, 2013.
The surviving entity, Rangemore Film Productions Corp. will be headquartered in Miami Beach and Manchester, England and continue to trade on the OTCPINKS under the symbol AUCI. The Board of Directors will consist of Doug Mann, Andrew McLaughlin and Richard Smith and the officers will be Andrew McLaughlin - CEO, Doug Mann - President and Richard Smith - Secretary & Treasurer. An application for a new stock symbol will be filed with FINRA imminently.
In accordance with the terms of the merger agreement, each common share of Rangemore Productions Corp. has been converted into one PREFERRED SHARE of Rangemore Film Productions Corp. in exchange for all the assets, liabilities and operations of Rangemore Productions Corp.
The corporate website has also been changed to www.rangemorefilmproductions.com.
"It's a great day for our shareholders," stated Doug Mann, President. "The new direction our company has taken is very unique and exciting. Rangemore is poised for significant growth in the coming months and years now that we are officially in the movie business." continued Mr. Mann.
"We are pleased to have the merger completed," stated Andrew McLaughlin, CEO. "We can now focus on building our company and the development of the film projects" continued Mr. McLaughlin.
About Rangemore Film Productions Corp. (Formerly Auctions International Inc.)
Rangemore Film Productions Corp. (formerly Auctions International Inc.) is a publicly traded company whose core business was the development and implementation of a proprietary technology that enabled virtual auctions for any type of product or commodity over the internet.
On March 31, 2013, Rangemore Film Productions Corp. closed a merger with Rangemore Productions Corp. and is now focusing solely on that business and will be ceasing the software development operations. For more information on Rangemore Productions Corp. please see below or visit www.rangemorefilmproductions.com.
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.
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. 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.
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 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 Rangemore Film Productions Corp.