Rainmaker Entertainment Announces Termination of Agreement Proposing to Sell Animation Studio Rainmaker Entertainment Announces Termination of Agreement Proposing to Sell Animation Studio

VANCOUVER, BRITISH COLUMBIA– – Sep 17, 2012- Rainmaker Entertainment Inc. (“Rainmaker”) announced today that it has terminated the asset purchase agreement dated June 27, 2012 pursuant to which Rainmaker Studios Inc. (“RSI”), a wholly-owned subsidiary of Xing Xing Digital Corporation, had proposed to acquire certain assets comprising substantially all of Rainmaker”s animation studio assets (the “Transaction”).

Rainmaker delivered its notice of termination because the parties were unable to close the Transaction on or prior to September 14, 2012 as had been agreed. The board of directors of Rainmaker felt that due to the delay in closing the Transaction, it was in the best interests of Rainmaker and its shareholders that the company focus on its existing business operations and on exploring alternative transactions.

Animation news you can use
Support independent publishing

Your membership will help us continue to deliver the stories that are important to you. Support Cartoon Brew for as little as $1 a week — the process is fast and easy.

Become A Member   

Chris Arrant

More in biz:

Latest News from Cartoon Brew