The project spent almost a decade at Relativity with various directors and actors coming and going. When the company went under, the project went into limbo.

Jason Momoa and Corin Hardy were last on board as star and director, and while they are not formally signed on to the Sony version, insiders say the plan does includes them coming on in the near term.

The original movie was directed by Alex Proyas and featured Lee as a man brought back from the dead to avenge his own death, as well as his girlfriend’s. The movie became a cult hit not just due to style and resonating story but partially due to Lee’s accidental death during production.

Sources say the reboot will be a more faithful adaptation of the indie comic created by James O’Barr that was first published in 1989.

Samuel Hadida’s Davis Films, Highland Film Group and Electric Shadow previously acquired the rights to finance, produce and distribute the film.

Kevin Misher will also be producing for Misher Films.

Edward R. Pressman, who produced the 1994 original and spent years developing it while it was at Relativity, will produce alongside Hadida. Highland Film Group and Electric Shadow are also producing. Dan Farah (Ready Player One) will exec produce.

Highland Film Group will also handle international sales.