Although Reese Witherspoon's first foray into producing got only standing ovations at the Toronto Film Festival, generating positive reviews and a certain sense of anticipation, after the festivity ended, the future for it was unsure, in what concerns its distribution.

Now, the actress turned producer can rest assured that others, too, will have the chance of seeing her pet project, because 'Penelope' was picked up by IFC Films and Weinstein Co. for distribution. The story of the pig-snouted rich girl will be theatrically distributed by IFC, while Weinstein will handle the home video and TV filed in North America.

The movie focuses on the story of a girl with a facial deformity, played by Christina Ricci, who wants to overcome her complex by finding the true love of her life. Peter Dinklage stars as an annoying paparazzo hired to expose Penelope's secret to the world, but he ends up by falling in love with her. Reese also stars in the movie as the biker chick whom Penelope befriends after she leaves her overprotective parents' home.

The movie was produced under the Type A Films and Stone Village Pictures label. A spokesperson for Stone Village spoke about the newly-inked deal, saying that Witherspoon really deserved a break for this project. 'Reese has a real knack for producing, from working on a script to hiring technical workers to even suggesting shots to the director', he added.

No financial details were revealed to the press, although an insider did hint the negotiations reached and even topped $10 million, which is a pretty good sum for a $15 million movie.