Hot off its world premiere at the Venice Film Festival and its North American premiere at the Toronto International Film Festival, Magnolia Pictures has nabbed the English-language rights to Johnny To's action thriller, Exiled. As part of a three-way pact (with Optimum Releasing for UK rights and Madman Entertainment for rights in Australia and New Zealand), pic marks the second acquisition for the three companies, after teaming up to snag The Host this past May at Cannes, where Magnolia also picked up the genre title Severance.

Set in Hong Kong's underworld and modeled after To's 1999 hit The Mission, Exiled packed its cast with folks like Roy Cheung, Francis Ng, Anthony Wong and Simon Yam. Says Magnolia's President Eamonn Bowles, "A lot of people thinking that the Hong Kong gangster film ran its course in the nineties are going to be pleasantly surprised by the freshness and innovation of Exiled. Now comes the more (or less) important question: How long before an American filmmaker decides to orchestrate a remake?