The project, focusing on a 19th century British soldier trained in supernatural arts by hermits known as sadhus, was unveiled in March.
Graphic India co-founders Sharad Devarajan and Gotham Chopra will produce alongside Canton and David Hopwood.
The story mirrors Dewil’s own life. During his late 20s he left his lucrative job at Ogilvy Advertising in South Africa to live with the sadhus of Vrindavan, India.
“Besides his evident skills as a filmmaker, Mukunda has life experiences so close to what’s in the graphic novels that he is the perfect fit for our project,” Hopwood said.
Dewil directed action-thriller “Vehicle 19,” starring Paul Walker, from his own script. He also directed 2011′s “Retribution.”
“Much like ’300,’ ‘The Sadhu’ is rich with mythic characters from a fantastical culture,” the director said. “Throw in a far out mystical superhero and I think we’ve got the ingredients for another groundbreaking franchise.”
Canton’s credits include “Immortals” and “300: Rise of an Empire.”
Dewill is repped by UTA and Tarik Heitmann at Heitmann Entertainment.