Auctions International & Rangmore Productions sign merger agreement
Poster: SySAdmin
Posted on January 8, 2013 at 9:49:01 AM
Auctions International & Rangmore Productions sign merger agreement
MIAMI BEACH, FLA, Jan. 8, 2013 /PRNewswire/ - Auctions International, Inc. ("Auctions") (OTCPINK: AUCI) would like to announce to its shareholders that Auctions and Rangemore
Productions Corp. ("Rangemore") have officially entered into a
definitive Merger Agreement effective December 31, 2012. The Merger
Agreement takes precedent over the previously signed Binding Letter of
Intent. It is expected that the merger will close within the first
quarter of 2013 and at closing Rangemore and Auctions will become one
entity operating under the name Rangemore Film Productions Corp.
About Auctions International, Inc.
Auctions International, Inc. isa publicly traded company whose core business was the development and
implementation of a proprietary technology that enables virtual
auctions for any type of product or commodity over the internet. In
addition to the development and launch of its technology, the
management of Auctions is dedicated to identifying and acquiring
undervalued opportunities that have significant upside with the focus
being to add to shareholder value. As a result, on December 31, 2012,
Auctions entered into a Merger Agreement with Rangemore Productions
Corp. For more information on Rangemore Productions Corp. please see
below or visit http://www.rangemoreproductions.com.
Auctions is a Development Stage Company, as defined by Financial
Accounting Standards Board ("FASB") Accounting Standards Codification
("ASC") 915, Development Stage Entities, and has not yet generated significant revenues from their intended
business activities.
About Rangemore Productions Corp.
Rangemore Productions Corp. ("Rangemore") is an independent film company
that operates a film studio on the Isle of Man known as Island
Studios. Island Studios is a complete film production facility located
two miles outside the town of Ramsey, is approximately 7 acres in size,
and houses a film studio, sound studio, make-up studio, dressing rooms,
canteen and dormitory, administration offices, and storage facility.
The studios have been operating since 2002. Along with the studio
operations, Rangemore will be actively producing independent film
productions. Management of Rangemore is in the process of reviewing a
number of film projects and joint venture opportunities.
Forward-Looking Statements
Except for the historical information contained herein, the matters
discussed in this press release are forward-looking statements. Actual
results may differ materially from those described in forward-looking
statements and are subject to risks and uncertainties. See Auctions'
filings with OTCMarkets which may identify specific factors that may
cause actual results or events to differ materially from those
described in the forward-looking statements.
SOURCE Auctions International, Inc.
Auctions International, Inc.
CONTACT: For more information on Auctions or Rangemore please call Rangemore Productions Corp. at 305-851-2469 or visit www.rangemoreproductions.com.
MIAMI BEACH, FLA, Jan. 8, 2013 /PRNewswire/ - Auctions International, Inc. ("Auctions") (OTCPINK: AUCI) would like to announce to its shareholders that Auctions and Rangemore
Productions Corp. ("Rangemore") have officially entered into a
definitive Merger Agreement effective December 31, 2012. The Merger
Agreement takes precedent over the previously signed Binding Letter of
Intent. It is expected that the merger will close within the first
quarter of 2013 and at closing Rangemore and Auctions will become one
entity operating under the name Rangemore Film Productions Corp.
About Auctions International, Inc.
Auctions International, Inc. isa publicly traded company whose core business was the development and
implementation of a proprietary technology that enables virtual
auctions for any type of product or commodity over the internet. In
addition to the development and launch of its technology, the
management of Auctions is dedicated to identifying and acquiring
undervalued opportunities that have significant upside with the focus
being to add to shareholder value. As a result, on December 31, 2012,
Auctions entered into a Merger Agreement with Rangemore Productions
Corp. For more information on Rangemore Productions Corp. please see
below or visit http://www.rangemoreproductions.com.
Auctions is a Development Stage Company, as defined by Financial
Accounting Standards Board ("FASB") Accounting Standards Codification
("ASC") 915, Development Stage Entities, and has not yet generated significant revenues from their intended
business activities.
About Rangemore Productions Corp.
Rangemore Productions Corp. ("Rangemore") is an independent film company
that operates a film studio on the Isle of Man known as Island
Studios. Island Studios is a complete film production facility located
two miles outside the town of Ramsey, is approximately 7 acres in size,
and houses a film studio, sound studio, make-up studio, dressing rooms,
canteen and dormitory, administration offices, and storage facility.
The studios have been operating since 2002. Along with the studio
operations, Rangemore will be actively producing independent film
productions. Management of Rangemore is in the process of reviewing a
number of film projects and joint venture opportunities.
Forward-Looking Statements
Except for the historical information contained herein, the matters
discussed in this press release are forward-looking statements. Actual
results may differ materially from those described in forward-looking
statements and are subject to risks and uncertainties. See Auctions'
filings with OTCMarkets which may identify specific factors that may
cause actual results or events to differ materially from those
described in the forward-looking statements.
SOURCE Auctions International, Inc.
Auctions International, Inc.
CONTACT: For more information on Auctions or Rangemore please call Rangemore Productions Corp. at 305-851-2469 or visit www.rangemoreproductions.com.