VANCOUVER, BRITISH COLUMBIA--(Marketwired - March 27, 2014) -
NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR RELEASE, PUBLICATION, DISTRIBUTION OR DISSEMINATION DIRECTLY, OR INDIRECTLY, IN WHOLE OR IN PART, IN OR TO THE UNITED STATES
Rainmaker Entertainment Inc. ("Rainmaker" or the "Company") (TSX VENTURE:RNK) announces that its outstanding unsecured subordinated convertible debentures (the "Debentures") have been accepted to be listed for trading on the TSX Venture Exchange ("TSXV"). Trading of the Debentures will commence at the open of the market on March 31, 2014.
The Debentures bear interest at a rate of 8% per annum, payable quarterly in arrears. Each $1,000 principal amount of the Debentures is convertible at the option of the holder into common shares of the Company (the "Common Shares") at a conversion price of $0.20 per Common Share, such that 5,000 Common Shares shall be issued for each $1,000 principal amount of Debentures so converted. The Debentures are also redeemable by the Company starting October 15, 2014. The Debentures mature on March 31, 2016. There is $13,486,000 principal amount of Debentures outstanding.
This press release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.
Based in Vancouver, British Columbia, Rainmaker is a multifaceted animation studio and one of Canada's largest producers of CG animation. On February 15, 2013, Rainmaker's first feature film, Escape From Planet Earth (distributed by The Weinstein Company), opened on 3,200 screens across North America. Currently the studio is working on its second feature, Ratchet and Clank. Based on the popular Sony PlayStation game, this film is slated for release in 2015.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this press release.