SOURCE: Rainmaker Entertainment Inc.

Rainmaker Entertainment Inc.

December 15, 2015 20:21 ET

Rainmaker Entertainment & Shaftesbury Films Announce Termination of Proposed Transaction

VANCOUVER, BC--(Marketwired - December 15, 2015) - Rainmaker Entertainment Inc. (TSX VENTURE: RNK) ("Rainmaker" or the "Company") and Shaftesbury Films Inc. ("Shaftesbury") announce that in regards to the previously announced Share Purchase Agreement pursuant to which Rainmaker agreed to acquire all of the shares of Shaftesbury (the "Transaction"), Rainmaker and the parties thereto have agreed to terminate the Share Purchase Agreement as all conditions to closing will not have been satisfied by December 15, 2015, being the outside date for completion of the Transaction. 

Rainmaker and Maison Placements Canada Inc. have also agreed to terminate the Agency Agreement in respect of the Company's previously announced prospectus offering of units (the "Offering") and the Company will be withdrawing its prospectus in respect of the Offering.

Rainmaker Chairman and CEO Craig Graham commented, "I extend my appreciation to the team at Maison Placements, the Directors of Shaftesbury and Rainmaker and the employees of both companies who worked diligently to explore this transaction. Christina Jennings and the Shaftesbury team are innovation leaders who remain focused on strong financial growth in scripted television, digital media and branded entertainment. I thank Michael Hefferon and our management team for securing a strong future for Rainmaker."

Trading in Rainmaker's common shares on the TSX Venture Exchange was halted prior to the announcement of the Transaction and is expected to resume trading on December 18, 2015. 

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.

About Shaftesbury Films Inc.

Shaftesbury is a privately held content company based in Toronto and Los Angeles, with diversified operations spanning the production and distribution of screen-based entertainment for all genres and platforms. Shaftesbury's slate includes David Shore's new series, Houdini & Doyle, for Sony Pictures Television, Shaw Media, ITV and Fox; thriller series Slasher for Super Channel and NBC Universal's Chiller; nine seasons of Murdoch Mysteries for CBC, UKTV and ITV STUDIOS Global Entertainment; and the global hit Disney kids series Life with Derek. Shaftesbury's digital and technology arm, Smokebomb Entertainment, produces original digital, convergent and branded entertainment projects including the hit YouTube series Carmilla, funded by U by Kotex®. Shaftesbury also owns a 50% interest in shift2, a brand agency focused on emerging branded entertainment revenue opportunities. For more information visit http://shaftesbury.ca.

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