Vancouver: International Keystone Entertainment finalized its purchase of Vancouver distribution company Red Sky Entertainment Nov. 27 by issuing 3.6 million shares of Keystone to former Red Sky stockholders.

Most recently, Red Sky distributed Keystone’s MVP: Most Valuable Primate feature, which has generated $1 million in Canadian box office receipts, according to Keystone.

‘With the acquisition of Red Sky, Keystone will be able to license its films on a media-by-media basis within Canada, thereby retaining greater ownership of its film library,’ states Keystone in a release. ‘Keystone will continue to actively support the Canadian film industry through the acquisition and distribution of independent film product using the Red Sky label, in addition to its own Keystone Releasing brand.’

Keystone suspended active trading of its Montreal Exchange-listed shares on Aug. 31 when they were $0.70 each. *

-www.keypics.com

-www.redskyent.com