Producers who had hoped to shoot a feature-length movie on P.E.I. this spring have won a reprieve on a financing deadline.

The producers of Still the Water formed a community economic development business, or CEDB, to sell shares in the movie, hoping to raise $500,000 over three months — and the deadline passed Monday.

When it became clear the movie wasn't going to raise half a million dollars in time, producer Susan Rodgers went back to the province and managed to amend the terms of the share offering. The movie now has until July 31 to raise at least $100,000. Having raised almost $200,000, that threshold has been reached.

"The pressure is off," said Rodgers. "I'm disappointed that we weren't shooting this month like we had hoped. Especially where setting day was yesterday and the climax of our film takes place on setting day."

I know the wait is going to be worth it in the end. — Susan Rodgers

The movie is a story of two hockey-loving brothers in rural P.E.I. who live under the thumb of an alcoholic father. The film picks up a decade later as one of the brothers returns home — there's hockey, fishing and family drama.

'Second chance'

"It feels like a second chance, so I feel very blessed to have that second chance," Rodgers said.

'I know the wait is going to be worth it in the end,' says P.E.I. filmmaker Susan Rodgers. (Submitted by Susan Rodgers )

Now, producers hope to shoot the movie this fall or, more likely, spring 2019, although they haven't yet chosen new dates.

"We'll see how the rest of the financing goes and go from there," Rodgers said.

The "dream budget" for the movie was was $1.6 million. At this point, if producers raise all of the money themselves, Rodgers said they'd like to have about $700,000.

The other option they're pursuing is raising part of the money themselves and finding an executive producer to finance the remainder.

Producers have chosen actors and have a director of photography, Christopher Ball. He recently worked in Yarmouth, N.S., filming The Lighthouse starring Robert Pattinson and Willem Dafoe.

Still the Water may also create another public offering this fall, hoping to cash in on RRSP season. Under a CEDB, Islanders may each invest between $1,000 and $20,000.

As well as the 35 per cent provincial tax credit, investors have the additional benefit of being able to hold their shares in an RRSP, making them eligible for further income tax breaks.

"I know the wait is going to be worth it in the end," said Rodgers.

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