The company's genre label Darclight is handling worldwide distribution and will commence pre-sales at AFM.
Jamie Blanks, whose credits include Urban Legend and Storm Warning, is directing based on Everett de Roche's update of his screenplay from the 1978 Australian film of the same name.
Arclight chief Gary Hamilton and Nigel Odell are producing the story of a couple of campers whose disregard for nature has serious consequences.
The 1978 original film starred Australia's John Hargreaves and Briony Behets and was directed by Colin Eggleston.
'The original film was a great example of a classic chiller and was acclaimed by audiences and critics alike,' Hamilton said. 'We think the time is right to make this new film and that it will have a huge appeal to audiences worldwide.'
Blanks was represented in the negotiations by Simon Millar of Rumble Media, Caviezel by Brian Mann of ICM and manager Frank Stewart, and Karvan by Robyn Gardiner Management.