Auctions International & Rangmore Productions sign merger agreement
MIAMI BEACH, FLA, Jan. 8, 2013
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. is a 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
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
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.
For more information on Auctions or Rangemore please call Rangemore
Productions Corp. at 305-851-2469 or visitwww.rangemoreproductions.com.
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