Lionsgate announced on Thursday that the planned reboot of Mighty Morphin Power Rangers will drop in 2016.

The film, which will only go by Power Rangers, is getting the prime summer release date of July 22, 2016, Deadline reports. The action film will debut alongside Warner Bros.' King Arthur.

As previously reported, Amazing Spider-Man 2 co-writer Roberto Orci is on board to executive produce under the Sneaky Shark banner.

Ashley Miller ad Zack Stentz will write the screenplay based off a story they and Orci came up with together.

Saban Brands is on board to produce the reboot based on high school kids who find themselves endowed with extraterrestrial powers and they team up to defeat any evil that threatens the world.

Haim Saban created the original property in 1993, though of course borrowing heavily from Japanese version. It continues to this day, with the latest iteration of the series called Power Rangers Super MEgaforce.

image courtesy of INFphoto.com