Rangemore's common shares now quoted on OTC Pink-Current Information Tier
August 12 2013 - 9:05AM
OTC Markets
Rangemore's common shares now quoted on OTC Pink-Current
Information Tier
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Rangemore's common shares now quoted on OTC Pink-Current
Information Tier
Canada NewsWire
MIAMI BEACH, FL, Aug. 12, 2013
MIAMI BEACH, FL, Aug. 12, 2013 /CNW/ - Rangemore Film
Productions Corp. ("Rangemore") (OTCPINK:RANF) announces that
effective immediately, the Company's common shares are
now quoted on the OTC Pink - Current Information Tier in the OTC
Pink
marketplace.
"We are very pleased to have met the first of our six month
objectives"
stated Richard Smith, Director and
Secretary/Treasurer of Rangemore.
"The amount of work that that went into becoming 'Current' was
significant. We completed a comprehensive review of the books
and
records and prepared detailed working papers for each month going
back
to 2011. We did this in anticipation of completing an audit
as part of
the process to become fully reporting with the Securities and
Exchange
Commission and now that we have obtained 'Current Information'
status
we will be starting that process." continued Mr. Smith.
In addition, the Management of Rangemore would like to address
the
inaccurate statements being made about the Company's share
structure.
As disclosed in the following documents (available for download at
www.otcmarkets.com): Attorney Letter - published August 7, 2013; June 30,
2013 Quarterly
Report - published July 9, 2013; and
June 30, 2013 Interim Financial
Statement - published July 8, 2013;
the share structure is clearly
defined as following:
Common shares:
|
|
|
Authorized: 2,000,000,000
|
|
|
Issued and outstanding: 817,834,722
|
Preferred shares:
|
|
|
Authorized: 100,000,000
|
|
|
Issued and outstanding: 42,942,000
|
There are currently no plans to restructure the common shares of
the
Company.
About Rangemore Film Productions Corp. (Formerly Auctions
International
Inc.)
Rangemore Film Productions Corp. is a publicly traded company who
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 preliminary agreement to participate in the royalties of
an
independent film production being developed in the United Kingdom. The
agreed upon terms will allow Rangemore to purchase interest in the
film
royalties in exchange preferred shares for up to a maximum of 10%
of
the total royalties. The final terms and a definitive
agreement are in
the process of being prepared.
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.
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