Oscar nominee Ryan Gosling is executive producing.
Daniel Gillies is directing and producing. Gillies also stars in the film with Rachael Leigh Cook and Seymour Cassel.
Other producers are Darryn Welch from Instinctive Film and John Lyons Murphy for Holy Monster.
K5 is pre-selling the film starting in Cannes. The shoot will start this summer.
The Disposables is a drama with three different stories weave their way from the slums of Bogata to the artifice of Los Angeles. Characters include a 12-year-old prostitute, an eccentric American writer, a Colombian university student, and an LA day-care teacher with a secret.
Gillies said: 'I couldn't be more excited about K5 International's alliance with our project. They share the kind of passion and initiative that has been the spirit of this creation so far. We are in good hands.'
K5's Stephens added: 'The Disposables is an excellent script, full of passion, emotion and energy that will connect with the buyers. We look forward to having those discussions this week.'
Gillies has acted in Bride And Prejudice and Spider-Man 2 and also wrote and directed 2007's Wait For Me.
The deal was negotiated between Gillies, John Lyons Murphy (on behalf of Holy Monster), Darrny Welch (on behalf of Instinctive Film) and Bill Stephens, Daniel Baur and Oliver Simon at K5 International.
K5's Cannes slate also includes Get Low, The Visitor, Ping Pong Playa and Wonderful World.