Zeboyd Games (developers of the popular Breath of Death VII and Cthulhu Saves the World) have announced that the much anticipated third episode of Penny Arcade’s Rain-Slick Precipice of Darkness will be released on the 10th of July. The game’s full title is quite a mouthful, but it promises to be full of retro-styled RPG gameplay, while retaining Penny Arcade’s brand of humour. The game will be released for Xbox Live Indie Games and PC (via Steam), and will cost just $5 (or 400 MS points). As part of the announcement, Zeboyd stated:

“We’re very excited about this game – We think it is a huge improvement over Cthulhu Saves the World and Breath of Death VII and can’t wait for more people to have a chance to play it.”

Originally developed by Hothead Games, the Penny Arcade series only saw two out of its three planned episodes receive development, since the studio decided to develop DeathSpank instead. The series was left in limbo until 2011, when Zeboyd decided to rescue it. While the first two games were rendered in 3D, Episode 3 continues Zeboyd’s tradition of developing games which feature simple 2D sprites. Zeboyd released two new screenshots for the game, which you can view below: