Co-starring Pauly Shore, Patrick Cavanaugh and Phil Morrishe, the film is to be released Jan. 11 on DVD, the company announced Thursday.
It tells the story of comedian and self-proclaimed "King of YouTube" Slam Slamsky, who wants to make it big in mainstream advertising, even though his sense of humor and frequent pot use are not exactly in sync with the stuffy suits he meets, Screen Media said in a synopsis.
"Screen Media is proud to be a part of Leslie Nielsen's legacy. He was one of comedy's brightest stars, so it is only fitting that he take on his final role in the hysterical 'Stonerville,' a film that pays tribute to the man who made us all laugh," Robert Baruc, president of Screen Media Films, said in a statement.
Nielsen died Nov. 28 of complications of pneumonia in a hospital near his home in Fort Lauderdale, Fla. He was 84.
The actor was best known for his roles in the "Naked Gun" and "Airplane!" movies, as well as for his appearances on TV's "Police Squad!" "Goodyear Playhouse" and "Hawaii Five-O."
His other film credits included "Forbidden Planet" and "The Poseidon Adventure."