AceShowbiz -

After booking Jon Chu to direct "G.I. Joe 2", Paramount Pictures has selected a release date for the movie. It has just been announced that this "G.I. Joe: Rise of Cobra" sequel will hit theaters across the U.S. on August 10, 2012.

In another news, Rachel Nichols who starred as Shana 'Scarlett' O'Hara in the first film has caused frenzy by revealing only three characters that will return in the second movie. She tweeted on March 3, "GI JOE 2 News Flash: The only characters to return in the JON CHU directed sequel will be SNAKE EYES, STORM SHADOW, and DUKE..."

This means Lee Byung-hun, Ray Park and Channing Tatum are the only original cast joining the sequel though it was previously reported that all main actors have signed on for the next installment. This also raises speculation that Paramount wants to keep the budget relatively smaller than the $175 million price tag of "Rise of Cobra".

"G.I. Joe 2" has "Zombieland" writers, Rhett Reese and Paul Wernick, writing the script. Reese has stated they "will be faithful to the first film. We will not be ignoring events from the first in the second."