Franco wrote and directed Good Time Max, about two brothers who grow apart when one becomes a surgeon and the other falls into the grip of drugs.
Franco stars alongside Vince Jolivete and Shoreline acquired the film after its premiere at the Tribeca Film Festival.
Kill Kill Faster Faster stars Gil Bellows, Lisa Ray and Esai Morales in the story of a former inmate who falls for his friend's wife.
Director of acquisitions Brandon Paine announced the deals yesterday.
Shoreline's slate includes The Man In The Chair, Careless, The Moon And The Stars, In Your Dreams, Corroboree, and documentary 1 More Hit.
The company produced horror film The Signal, which Magnolia Pictures picked up at Sundance, as well as Everything's Gone Green, which was released by First Independent in April.