Following on the heels of 2014's Angelina Jolie-starring Maleficent, last year's sweeping romance Cinderella, and the forthcoming cinematic retellings of The Jungle Book (out in April) and Dumbo (to be directed by Tim Burton), Disney has unveiled yet another re-imagining of one of its beloved classic tales: Pete's Dragon.

On Friday, a brand new motion poster was released for the film, which due out in theaters August 12, 2016. Filmed in New Zealand, the upcoming fantasy flick was co-written and directed by Ain't Them Bodies Saints director David Lowery, and stars the likes of Robert Redford, Bryce Dallas Howard, Wes Bentley, Oona Laurence, and Oakes Fegley.

Released in 1977, the original Pete's Dragon is a live-action and animated musical hybrid film. The original movie follows the story of an orphan named Pete who enters into a new town, befriends a dragon with invisibility powers named Elliott, and subsequently gets into shenanigans while coming of age and figuring out where he truly belongs. The original flick starred Helen Reddy, Mickey Rooney, and Jim Dale among others, and was nominated for two academy awards. It is considered a Disney classic from the era of Mary Poppins (1964) and Bedknobs and Broomsticks (1971).

In addition to releasing the digital poster, Disney also announced that the first official trailer for the upcoming remake will be released this Sunday (February 21) on ABC's Wonderful World of Disney: Disneyland 60 special at 8 p.m. EST.

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