Paladin has acquired theatrical rights to the Noel Wells comedy “Mr. Roosevelt” and plans a late fall release, Variety has learned exclusively

The film premiered in March at SXSW, where it won the audience award in the narrative spotlight and the Louis Black Lone Star Award. It also won the Founders Prize for Best US Fiction Film at Michael Moore’s Traverse City Film Festival.

Wells, a former featured player on “Saturday Night Live,” made her feature directorial debut and executive produced the film, in which she portrays a talented but hard-to-classify comedic performer who left behind her Austin home and boyfriend to pursue career opportunities in L.A. When a loved one falls ill, she rushes back to Austin where she’s forced to stay with her ex-boyfriend and his new girlfriend.

“Mr. Roosevelt” is a Beachside presentation and production in association with Sleepy Sheep and Revelator. Producers are Chris Ohlson, Michael B. Clark, and Alex Turtletaub.

Variety’s Andrew Barker gave the film a strong review: “This riotously endearing comedy is substantially funnier, sharper, and more peculiar than that premise is bound to make it sound. While its knowing touch for the rhythms of Austin life make it a perfect fit for SXSW, the film has potential to travel much further, and announces Wells as a behind-the-camera talent worth watching,” he wrote.

In a separate deal, Beachside has sold worldwide streaming rights to “Mr. Roosevelt”  to Netflix, which will launch the film after its theatrical window.

Wells’ credits include “Master of None,” “Infinity Baby” and “The Incredible Jessica James,” another Beachside production.

The deal was negotiated by Clark and Turtletaub of Beachside with Paladin president Mark Urman.