Rainmaker Entertainment Inc.

Rainmaker Entertainment Inc.

November 01, 2013 16:30 ET

Rainmaker Entertainment Announces Closing of Loan and Private Placement

VANCOUVER, BRITISH COLUMBIA--(Marketwired - Nov. 1, 2013) -

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. (TSX VENTURE:RNK) today announced that it has completed a non-brokered private placement of 2,000,000 common shares at a price of $0.20 per share.

The shares were purchased by Cavan Consulting Limited ("Cavan") of which Mr. Craig Graham, Rainmaker's Chief Executive Officer and Chairman, is an officer, director and shareholder. In connection with the private placement, Rainmaker loaned $400,000 to Mr. Graham (the "Loan") to facilitate the purchase of the shares by Cavan. The proposed Loan and private placement were previously disclosed by Rainmaker and received the approval of shareholders at Rainmaker's annual and special meeting of shareholders held on April 12, 2013. The Loan is secured by a limited recourse guarantee and pledge of all of the shares from Cavan in favour of Rainmaker.

The shares issued pursuant to the private placement are subject to a hold period ending on March 1, 2014.

This news release is not an offer of securities for sale in the United States. The shares will not be registered under the U.S. Securities Act of 1933, or the securities laws of any state, and may not be offered or sold in the United States or to, or for the account or benefit of, any U.S. person or person in the United States without registration unless an exemption from registration is available.

About Rainmaker Entertainment

Based in Vancouver, British Columbia, Rainmaker Entertainment Inc. 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.

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