EXCLUSIVE: Mike Flanagan will direct from a screenplay he co-wrote with Jeff Howard, based on Flanagan’s acclaimed short film of the same name. Focus Features International is handling sales on the rest of the world in Cannes.

Intrepid is fully financing and principals Trevor Macy and Marc D Evans are producing. Oculus is about an allegedly haunted antique mirror that may have played a part in a family tragedy that left two children orphans.

At the time, the boy was charged with murder. Years later he emerges a rehabilitated man, however his grown-up sister remains convinced the mirror was responsible for their parents’ deaths.

Production has been earmarked for late summer and Anil Kurian will serve as executive producer. Intrepid negotiated the deal directly with FilmDistrict.

“When we read the script for Oculus and saw Mike’s short, we were excited about his potential to create a film that would deliver real scares to horror fans,” FilmDistrict head Peter Schlessel said. “We look forward to working with Trevor and Marc and their team at Intrepid on the project.”

“Mike’s ability to tell atmospheric and truly frightening tales is evident in both his Oculus short and especially his feature film Absentia, which won numerous awards at horror film festivals,” Macy said. “We’re excited to work with him to bring his storytelling to an even broader audience and believe that in the United States, FilmDistrict is just the right partner to do that.”

Macy and Evans’ teen thriller Crush starring Lucas Till, Sarah Bolger and Crystal Reed is also in the market and FilmNation is handling sales.

Intrepid and Summit Entertainment’s thriller The Cold Light Of Day starring Henry Cavill, Bruce Willis and Sigourney Weaver is set for a US Sept 7 release through Summit.

FilmDistrict’s 2012 pipeline includes Sundance acquisition Safety Not Guaranteed on Jun 8, sci-fi thriller Looper through TriStar Pictures on Sept 28, Red Dawn through Open Road on Nov 21 and Playing The Field on Dec 25. Parker will open on Jan 25 2013 and the Evil Dead reimagining opens through TriStar on Apr 12.