SOURCE: Rainmaker Entertainment Inc.

Rainmaker Entertainment Inc.

February 29, 2016 21:05 ET

Rainmaker Entertainment Announces Proposed Extension of Convertible Debentures

VANCOUVER, BC --(Marketwired - February 29, 2016) - Rainmaker Entertainment Inc. (TSX VENTURE: RNK) ("Rainmaker" or the "Company") announces that it is proposing to amend the terms of its Series 1 and Series 2 8% convertible unsecured subordinated debentures (the "Debentures"). The proposed amendment to the Debentures will include an extension of one year to the maturity date of each series of Debentures from March 31, 2016 to March 31, 2017.

The proposed extension to the Debentures remains subject to approval of the TSX Venture Exchange and the holders of not less than 66-2/3% of the principal amount of each series of the outstanding Debentures.

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 ability to implement the amendments to the Debentures. 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 Rainmaker's ability to obtain all necessary regulatory approvals and to obtain approval of the holders of Debentures and approval of the holders of each series of the Debentures. 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 3,200 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 www.rainmaker.com.

Neither TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this press release.

Contact Information

  • For more information please contact:

    Bryant Pike
    CFO
    Rainmaker Entertainment Inc.
    investor@rainmaker.com
    604.714.2600