REGINA – A Saskatchewan company has withdrawn from a contest with a prize of $1,000,000 to produce their upcoming film. The reason? They have now signed a distribution agreement.
On Monday, CineCoup announced the five finalists who will pitch their movies next month for a chance at securing the six-figure production financing and a theatrical release.
The Regina company, Factory Factory Entertainment, made it to the top 15 with their idea of shooting an action/science fiction film called Patient 62.
Patient 62 writer and producer Rick Anthony says they instead opted to sign a distribution agreement with IndieCan Entertainment and withdrew from CineCoup’s film accelerator contest.
“We were required to sign sort of a blanket option agreement that all the top 15 teams were required to sign and we weren’t entirely happy with the agreement itself or the negotiating process,” said Anthony.
“[We] actually had a period of time where we had both contracts in hand and had to make the decision between the two and opted for the one, I suppose, that would leave us with at least some control of the film and give us an opportunity to shoot it here in Saskatchewan.”
READ MORE: Saskatchewan film company competing for $1M prize
Anthony added that the contest was a great opportunity for them to build a fan base and get feedback on their project.
“I don’t want to discredit CineCoup, I think that contest itself and the exposure, certainly we got from it, was probably a large part of the reason that we have the successes that we did, but at the end of the day, it just wasn’t for us,” said Anthony.
The company’s new deal does not help them with funding the film.
“This deal did not come with a million dollars,” said Anthony.
“Basically, it allows us to produce the film ourselves, but as producers, now we are responsible for the lion’s share of the funding that we need to put together.”
The company has already identified ways to close that financial gap including the launch of an online crowdfunding campaign and engaging investors.
Anthony says they hope to have a film budget of somewhere between $100,000 and $250,000. He added that a nice thing about their distribution deal is it makes them eligible for grants and federal tax credits.
Their upcoming film tells the story of a man who stumbles across a genetic experimentation ring while searching for his missing sister. In turn, he gains telekinetic powers and uses them to try and save his sibling.
The filmmakers hope to shoot Patient 62 in Saskatchewan within the next eight to 10 months.
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