SOURCE: Rainmaker Entertainment Inc.

Rainmaker Entertainment Inc.

May 26, 2015 17:51 ET

Rainmaker Entertainment Announces Financial Results for the 1st Quarter of 2015

VANCOUVER, BC--(Marketwired - May 26, 2015) - Rainmaker Entertainment Inc. (TSX VENTURE: RNK) today announced its results for the three months ended March 31, 2015. Rainmaker reported a loss of $255,568 ($0.01 per share) for the first quarter of 2015 compared with a loss of $687,134 ($0.04 per share) for the first quarter of 2014.

$ thousands, except per share amounts Q1 2015 Q1 2014
     
Revenue 4,061 1,827
     
Loss from operations (256) (797)
Deferred Income tax recovery - 110
Loss and total comprehensive loss (256) (687)
     
Loss per share    
 - basic and diluted$(0.01)$(0.04)

Revenues increased by 222% compared to the first quarter of 2014. The increase in revenue had a significant impact ($541K) in reducing the loss from operations compared to the same period in 2014. The increase in revenues and decrease in loss from operations is as a direct result of two additional production contracts - Bob the Builder and the next installment of the Open Season franchise.

Michael Hefferon, President and Chief Creative Officer, commented, "The Company continues to focus on increasing revenues to further improve quarterly results. We are excited about our arrangement with Focus Features, who were recently announced as the United States distributor of Ratchet & Clank. Together with our partners on the production, we are actively working to close all remaining requirements, including prints and advertising financing arrangements, for the April 29, 2016 release."

Craig Graham, Chief Executive Officer, added, "Our goal of achieving positive financial returns for the Company in 2015 remains unchanged as we continue to develop new production opportunities for the studio."

Forward-Looking Statements
Certain information set forth in this press release contains "forward-looking statements", and "forward-looking information" under applicable securities laws. These statements relate to future events or future performance and include, but are not limited to, statements regarding our future plans and financial performance. The words "may", "would", "could", "will", "intend", "plan", "anticipate", "believe", "estimate", "expect", and similar expressions are often used to identify forward-looking statements. By their very nature, forward-looking statements involve inherent risks and uncertainties, both general and specific. In evaluating these statements, readers should specifically consider risks which may cause actual results to differ materially from any forward-looking statement. The forward-looking statements contained herein are based upon certain assumptions considered reasonable at the time they were prepared. Such assumptions include, but are not limited to, assumptions regarding: (i) general economic conditions, (ii) Rainmaker's future business prospects and opportunities, and (iii) Rainmaker's ability to complete any or all of its proposed production work. Should one or more of the risks or uncertainties identified herein materialize, or should the assumptions underlying the forward-looking statements prove to be incorrect, then actual results may vary materially from those described herein. In respect of Rainmakers business generally, readers should also refer to Forward-looking Statements in the Management Discussion & Analysis for year ended December 31, 2014. Readers are cautioned not to place undue reliance on forward-looking statements. Except as required by applicable securities laws, Rainmaker does not assume any obligation to update the forward-looking statements contained herein.

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. Rainmaker's first feature film, Escape From Planet Earth (distributed by The Weinstein Company), opened on 3200 screens across North America. Originally established as Mainframe Entertainment, the company produced the first ever CGI animation series, ReBoot, and over the course of its 15+ years of innovative history, Rainmaker has continued to break new ground in animation, telling engaging stories and creating compelling characters for all media. In addition to projects Rainmaker has produced with partners and clients including Mattel, The Weinstein Company, Hasbro, Lionsgate and Sony, Rainmaker also develops proprietary projects. Since announcing its return to television development and production in 2013 under the Mainframe Entertainment banner, two animated series are currently in the pipeline: in Fall 2013, the company announced its plans to develop a new version of its iconic CG-animated ReBoot series; and in April 2014, the company began production for HIT Entertainment of 104 10-minute episodes of the new CG-animated Bob the Builder series. For more information, visit:

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