MIAMI BEACH, FL, Oct. 15, 2013 /PRNewswire/ - Rangemore Film Productions Corp. ("Rangemore") (OTCPINK:RANF) announces that it has retained Hub Consulting Services ("Hub") to coordinate the building of Rangemore's film investment portfolio. Hub (www.hubcs.com) will be responsible for sourcing and vetting potential film projects for Rangemore as well as advising on production and distribution.
Under the terms of the Consulting Agreement (the "Agreement") Hub will be paid a monthly retainer of $2,500.00 and a finder's fee equivalent to 20% of the gross investment made in any film project that Hub is responsible for introducing to Rangemore. The finder's fee will be payable 10% in cash and 10% in stock. The term of the Agreement is for a twelve month period.
Hub Consulting is a Vancouver based consulting firm headed by Mr. Tom Locke. Mr. Locke is a founding member of MPPIA, the Motion Picture Production Industry Association of BC (www.mppia.com) and is currently the Vice President, Industry Relations for the International Quorum of Motion Picture Producers (www.iqfilm.org). Mr. Locke played an integral role in the founding of Rainmaker Digital Pictures Corporation ("Rainmaker") and was President and CEO of Gastown Post & Transfer, Western Canada's largest independent post-production facility which evolved into Rainmaker. Mr. Locke also created and instructed a course on professional skill development for the University of British Columbia's award-winning 'Entertainment Administration' certificate program.
"We are very excited to be working with Hub" stated Richard Smith, Secretary and Treasurer of Rangemore. "To bring in a partner with Mr. Locke credentials is a major step forward for our company. We will be looking to Mr. Locke to exercise his knowledge and influence in the film industry to bring us quality film projects. With Hub on board we will easily exceed our six month goal of having four film royalty agreements in place. Hub has already introduced three new film/TV projects for us to consider and there are more on the way." continued Mr. Smith.
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 film productions.
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 basis.
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 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 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.
SOURCE Rangemore Film Productions Corp.