• Actress Fan Bingbing attends a press conference for 'Yang Gui Fei' during the 16th Busan International Film Festival (BIFF) at Grand Hotel on October 7, 2011 in Busan, South Korea

Actress Fan Bingbing attends a press conference for 'Yang Gui Fei' during the 16th Busan International Film Festival (BIFF) at Grand Hotel on October 7, 2011 in Busan, South Korea (Photo : Getty Images/Chung Sung-Jun)

Well Go USA has bought the distribution rights to Feng Xiaogang's "I Am Not Madame Bovary" with plans to release it across North American theaters. The social satire film stars Fan Bingbing, Guo Tao, and Da Peng.

Following its world premiere at this year's Toronto International Film Festival,"I Am Not Madame Bovary" is now set for theatrical release in the United States and Canada on Oct. 7, after a wide release in China on Sept. 30. It is based on Liu Zhenyun's 2012 novel of the same name.

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"'I Am Not Madame Bovary' is a powerful and innovative film starring one of China's most acclaimed actresses under the direction of a true master," Well Go USA Entertainment President & CEO Doris Pfardrescher said in a statement obtained by The Hollywood Reporter. "This is a transformative role for Fan Bingbing and one which we think will translate with North American audiences."

"I Am Not Madame Bovary" recounts the satirical story of a village woman, Li Xuelian (Bingbing), who was accused of being an adulterer. In order to prove that her divorce was a sham and further redeem her reputation, she starts an annual voyage of petition to Beijing, China.

"Because [Madame Bovary] is so iconic, I think it's a really interesting character that audiences know immediately," Fan told Reuters during the Toronto International Film Festival on Sept. 8. "I want audiences to appreciate the title when they see the film later."

It is said that the deal was negotiated by Well Go USA Entertainment's Pfardrescher and Golden Network's Clarence Tang, who is leading Asian sales, along with CAA on behalf of the producers. Wild Bunch is handling Europe.

Meanwhile, Li, who rose to fame in East Asia in 1998-1999 with the mega-hit TV series "My Fair Princess," will play a mermaid caught by King Louis XIV (Pierce Brosnan) in "The King's Daughter" movie. It is based on the 1997 historical/sci-fi novel "The Moon and the Sun" by Vonda N. McIntyre.

The upcoming film will follow King Louis XIV, who wants to take the life force from the mermaid, whose flesh is rumored to give him an everlasting life. King Louis XIV's illegitimate daughter, Marie-Josèphe (Kaya Scodelario), realized the mermaid is an intelligent being and chooses to free her.

Check out "I Am Not Madame Bovary" trailer below: