Italy's Medusa produced Mother (in post), and will distribute it in Italy on 300 screens. The film is slated for a fall premiere and Halloween opening.
Myriad Pictures CEO Kirk D'Amico said the English-language film has generated interest from several territories. Myriad is screening a 20-minute segment to buyers and is considering launching the film in the film's primary shooting location, Rome.
'Of what they have seen so far, buyers think it is the best Dario Argento film in decades,' D'Amico told Screen International and confirms that Japanese, German, French and US buyers have expressed early interest.
D'Amico also says the film's audience is mainstream not specialized. 'If the final version of the film is a good as we think it is - the film will appeal to more than just horror fans,' he says.
Argento himself was on the Croisette Friday for the Cannes Classics sidebar screening of his restored horror classic Suspiria. It's the first time Argento has spoken about his super secret upcoming film, which stars his daughter Asia Argento.
Argento promises his film 'is up to the standards' of his previous pictures. 'It is difficult to do stylish films today - you have to be more ingenuous to succeed,' he said.
Thirty years ago when he was making Suspiria he relied on 'some old Kodak film stock' to produce vibrant colors like films from the 1940s and 1950s films.
The Third Mother was shot in the northern Italian city of Turin where Argento says he needed the cities 'half French architecture, the hallways, stairways, and back roads' but Rome, is also essential to the film's story line.
Argento told Screen that his love for the horror genre came at the age of eleven when and illness kept him out of school and he discovered a book of Edgar Allen Poe's nightmares, which as a child, fascinated, rather than frightened him.