Rangemore reduces debt by eighty five thousand dollars

Rangemore reduces debt by eighty five thousand dollars

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Rangemore reduces debt by eighty five thousand dollars

PR Newswire

MIAMI BEACH, FL, Sept. 12, 2013

MIAMI BEACH, FL, Sept. 12, 2013 /PRNewswire/ - Rangemore Film Productions Corp. ("Rangemore") (OTCPINK:RANF) today announces that it has reduced its accounts payable by over
$85,000 through the issuance of common shares.  This debt settlement
eliminates almost all of the third party debt owed by Rangemore and the
Company is almost completely debt free with the exception of debt owing
to related parties.  The shares were issued from treasury at par value
or $0.001 which is double the current market price and are subject to
the standard hold periods enforced by the SEC.

"It is one of management's key goals to keep our company relatively free
of debt" stated Richard Smith, Secretary and Treasurer of Rangemore. 
"The fact that our debt holders were willing to settle at a price twice
the current market price speaks volumes.  They see the long term
prospects for our company and were willing to take stock at a premium
and subject to a one year hold.  Finding debt holders willing to do
this is very rare." concluded Mr. Smith.

About Rangemore Film Productions Corp.


Rangemore Film Productions Corp. is a publicly traded company who in the
business of operating film studios and co-producing independent film
productions.

Rangemore is currently in the process of identifying and acquiring
studio suitable properties in four key markets: Asia; South Africa;
Europe and North America.  Potential acquisition sites will have to
meet certain criteria including: a low cost per square foot; easy
conversion into usable studio space; established local infrastructure;
establish local film industry; limited or non-existent competition;
available government tax incentives and mortgage financeable.  The
identified acquisitions will be either purchased outright utilizing
debt funding and tax credit incentive programs or leased on a long term
basis.

Along with the studio operations, Rangemore will be actively investing
in and co-producing independent film productions.  Currently Rangemore
has a preliminary agreement to participate in the royalties of an
independent film production being developed in the United Kingdom.  The
agreed upon terms will allow Rangemore to purchase interest in the film
royalties in exchange preferred shares for up to a maximum of 10% of
the total royalties.  The final terms and a definitive agreement are in
the process of being prepared.

Rangemore Film Productions Corp. 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.

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 Auction
International Inc's 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 Rangemore Film Productions Corp.