Lionsgate has set a U.S. release date of Aug. 15, 2014, for Sylvester Stallone starrer “The Expendables 3,” with Jackie Chan, Wesley Snipes, Nicolas Cage and Milla Jovovich tapped to co-star.

CEO Jon Feltheimer announced Friday during an earnings call that the studio was in advanced talks with the quartet to star in “The Expendables 3″ and was aiming to start production in August.

It would be the first role for Snipes since his April release from prison after serving three years on a tax evasion conviction.

The two “Expendables” ensemble actioners, both starring Sylvester Stallone, were released in mid-August in 2010 and 2012 by Lionsgate. The first grossed $275 million worldwide and the second hit $300 million.

Stallone announced earlier this year that Australian director Patrick Hughes would direct the third film, produced by Millennium Films. Stallone directed the first film and Simon West helmed the second.

“Expendables 3” is the first title dated for Aug. 15, 2014.