New York’s Oscilloscope Laboratories has acquired North American rights from Fortissimo Films to Nati Baratz’s documentary Unmistaken Child and from Visit Films to Gabriel Medina’s Argentinean debut featureThe Paranoids (Los Paranoicos).

Unmistaken Child follows a shy and devoted Tibetan disciple in search of the reincarnated form of his beloved Buddhist teacher, the renowned master Lama Konchog.

Oscilloscope plans a theatrical release on June 3 at New York’s Film Form and a DVD release in the autumn. The film premiered at Toronto last autumn and screened recently in official selection at Berlin.

‘It’s an honour for Oscilloscope to be releasing Unmistaken Child, a film which offers a rare glimpse into the process by which reincarnate Lamas are chosen,’ Oscilloscope head Adam Yauch said.

‘The relationship between the student and his now reborn teacher is incredibly sweet. One can glean more about the subtlety of Tibetan culture by watching these two interact than you could by reading a 100 books on the subject.’

Oscilloscope will donate 20% of their profits from the film to Tibetan Buddhist organisations

The Paranoids gets its US premiere in Austin at the South By Southwest Film Festival today [March 16] and will open in theatres later in the year with a DVD and digital release set for 2010.

The Paranoids is an off-beat comedy about Luciano, an aspiring writer in Buenos Aires whose life takes a bizarre turn when a childhood friend returns from Madrid and reveals he has produced a successful TV show based on Luciano’s life.

‘Everyone at the O-Scope office unanimously had our proverbial wigs blown back by this Argentinean wu-banger,’ said Yauch. ‘Gabriel Medina is pinning fools to the mat and letting them know how it’s done with The Paranoids, his directorial debut.’

Oscilloscope’s David Fenkel and Dan Berger negotiated the deal with Ryan Kampe from Visit Films on behalf of the film-makers.