DELUXE TO ESTABLISH MAJOR PRESENCE IN VANCOUVER
Rainmaker Animation Remains a Rainmaker Entertainment Company
VANCOUVER, B.C. November 29, 2007 â€“ Rainmaker Income Fund (â€œRainmakerâ€?) (TSX: RNK-un) announced today that it has entered into a definitive agreement to sell two divisions of its wholly owned subsidiary Rainmaker Entertainment Inc. to Deluxe Entertainment Services Group Inc. (â€œDeluxeâ€?). The purchase by Deluxe will include Vancouver-based Rainmaker Visual Effects and Rainmaker Post, and Rainmaker’s London, England, visual effects facility. It will not include the Rainmaker Animation division based in Vancouver.
Rainmaker, an award winning pioneer with a 28-year history in the Canadian post production services industry, is an industry leader and the largest visual effects and animation company in Canada. The sale to Deluxe will allow Rainmaker Entertainment to concentrate solely on CG animation and content ownership. Rainmaker is in production on Escape From Planet Earth, a theatrical feature film for The Weinstein Company and in development on a 3D stereoscopic feature film trilogy based on ReBoot, Rainmakerâ€™s classic television series.
Deluxe, the leading provider of a broad range of entertainment services and technologies to the film industry, has been strategically adding to its slate of companies worldwide. Extending its laboratory, post production and visual effects capabilities to Vancouver and expanding to high-end visual effects resources in London, is the next logical step in Deluxeâ€™s full-service offerings to customers throughout the global entertainment industry. With its many long-standing customer relationships, the acquisition of Rainmaker is ideally suited for Deluxe to better serve its client base in Vancouver and London.
â€?Rainmaker is a perfect fit for Deluxe. This acquisition will only enhance the stature of the industry in Vancouver,â€? says Warren Franklin, CEO of Rainmaker. â€œThe completion of the sale to Deluxe will allow Rainmaker Entertainment to fully focus on becoming a world leader in computer animated films and to accelerate the development of its own film properties. Vancouver, with its strong talent pool, excellent training facilities and robust industry incentives is poised to be at the forefront of digital technology and creative growth.â€?
â€œWe are excited to be acquiring one of Canada’s leading postproduction facilities. Entering the Vancouver market is a natural extension for us and who better to do it with than Rainmaker,” said Cyril Drabinsky, CEO and President of Deluxe. â€œClients shooting in Vancouver will now have the choice of processing or digitizing their dailies locally with Deluxe before completing their projects through any one of Deluxeâ€™s film and digital finishing facilities worldwide,â€? adds Drabinsky.
Completion of the acquisition by Deluxe is subject to the approval of Heritage Canada and to other customary conditions. The transaction is expected to be completed on December 31, 2007.
About Rainmaker Entertainment Inc.
Rainmaker, headquartered in Vancouver, Canada, is an award-winning visual effects, 3D animation and post-production company with a 28 year history of technical excellence and outstanding service in feature films, television, games and commercials. Â From its origins in the pioneering west coast post house Gastown Productions, Rainmaker has grown into one of North America’s pre-eminent post-production service providers. Rainmaker has three divisions — Rainmaker Animation, Rainmaker Visual Effects and Rainmaker Post. Rainmaker also operates a facility in London — Rainmaker Animation & Visual Effects UK Ltd. (Rainmaker UK). www.rainmaker.com
About Deluxe Entertainment Services Group Inc.
Deluxe Entertainment Services Group Inc., a wholly-owned subsidiary of MacAndrews & Forbes Holdings Inc., is the leading provider of a broad range of entertainment industry services and technologies to major Hollywood Studios and an international client base. Services include motion picture film processing, printing and distribution; EFILM digital intermediates; post production and subtitling services; titles design and digital VFX; DVD compression, encoding and authoring; digital cinema services, digital asset management, digital distribution; and marketing fulfillment services. Deluxe facilities include: Los Angeles, Toronto, London, Rome, Florence, Madrid, Barcelona, and coming soon, New York. For more
information, please visit www.bydeluxe.com