Eduardo Sanchez ("The Blair Witch Project") helms this new spin on the popular myth in which five friends who must battle the legendary monster during a camping trip in the remote Texas woods.
In a statement, Sanchez says: "I'm really excited about working with the talented team at Lionsgate. We've had great history together and they really understand Exists and see the tremendous opportunity to reboot Bigfoot for a new generation."
Producer Jane Fleming adds: "It is especially gratifying to sell the film at SXSW in Austin so close to Bastrop, Texas where we shot Exists with an amazing Texas-based cast and crew. We look forward to working with Lionsgate to bring Ed's vision to the masses."
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