Rainmaker Entertainment Inc.
TSX VENTURE : RNK

Rainmaker Entertainment Inc.

April 01, 2011 08:30 ET

Rainmaker Reports Receipt of Equity Investment Distributions

VANCOUVER, BRITISH COLUMBIA--(Marketwire - April 1, 2011) - Rainmaker Entertainment Inc. (TSX:RNK) announced today that it received distribution proceeds relating to its 30% equity investment in Base 10 Group Inc.

The total proceeds consisted of $1,320,000 by way of cash and $330,000 by way of a non-interest bearing promissory note. Combined with an early repayment of its $500,000 subordinated debenture, previously disclosed in the company's 2010 annual financial statements, Rainmaker has received cash proceeds of $1,820,000 since its last reported financial position being December 31, 2010, and continues to retain its 30% equity interest in the company. 

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Additional information and other publicly filed documents relating to Rainmaker, including the Annual Information Form, are available through the internet on the Canadian Securities Administrators' System for Electronic Document Analysis and Retrieval ("SEDAR"), which can be accessed at www.sedar.com.

This press release and any related attachments may contain forward-looking statements that involve a number of risks and uncertainty. Among the important factors that could cause actual results to differ materially from those indicated by such forward-looking statements are market and general economic conditions and the risk factors detailed from time to time in the periodic reports and documents filed by the Company with The Toronto Stock Exchange and other regulatory authorities. Forward-looking statements are based on the estimates and opinions of management on the date the statements are made, and the Company undertakes no obligation to update the forward-looking statements should there be a change in conditions, or in management's estimates or opinions.

The contents of this press release have neither been approved nor disapproved by any regulatory authority.

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