Rainmaker Entertainment Announces Financial Results for the Third Quarter of 2013
VANCOUVER, CANADA, November 28, 2013 – Rainmaker Entertainment Inc. (TSX-V: RNK) today announced its results for the three and nine months ended September 30, 2013. The Company reported a loss of $951,685 ($0.05 per share) for the three months ended September 30, 2013 compared with a loss of $1,145,898 ($0.07 per share) for the same period in 2012. For the nine months ended September 30, 2013, the Company reported a loss of $2,228,937 (0.13 per share) compared with a loss of $3,047,801($0.17 per share) for same period in 2012.
Michael Hefferon, President and Executive Producer, commented, "Our production activities continued to grow in the third quarter with our latest feature film, Ratchet and Clank, in conjunction with continued production on the ‘Barbie' film titles with Mattel. We are pleased with the progress made to date on all production fronts and continue to work towards a successful targeted release of Ratchet and Clank in 2015."
Mr. Craig Graham, Chief Executive Officer, added, "We are actively pursuing new opportunities on both production service and intellectual property projects. We continue to develop our strategic relationships in Asia pursuing those projects."
Certain information set forth in this press release contains "forward-looking statements", and "forwardlooking information" under applicable securities laws. These statements relate to future events or future performance and include, but are not limited to, statements regarding our future plans and financial performance. The words "may", "would", "could", "will", "intend", "plan", "anticipate", "believe", "estimate", "expect", and similar expressions are often used to identify forward-looking statements. 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: (i) general economic conditions, (ii) Rainmaker's future business prospects and opportunities, and (iii) Rainmaker's ability to complete any or all of its proposed production work. 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, 2012. 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
Rainmaker Entertainment Inc., a multifaceted animation studio, is one of Canada's largest producers of CG animation. Rainmaker's first feature film Escape from Planet Earth, distributed by The Weinstein Company, enjoyed its theatrical release on February 15, 2013. Currently the studio is working on its second feature, Ratchet and Clank. Based on the popular Sony PlayStation game, this film is slated for
release in 2015.
Further information available at:
Contact: Bryant Pike
Tel: (604) 714-2600
Fax: (604) 714-5990