The film co-stars Togo Igawa, Masashi Fujimoto and Hiroyuki Watanabe and was produced and financed by new Singapore venture Vega, Baby!
The film stars Hayek as a woman who is down on her luck and is trying to fend off assassins sent by her ex, a dangerous mob boss, all while trying to save her estranged mother and daughter.
Dimension and Radius TWC are planning for a fourth-quarter release of the film.
"We've been on the hunt for a female driven action franchise and we've finally found it in Everly. Salma is utterly transcendent," a statement from Radius co-presidents Tom Quinn and Jason Janego said.