Gary Yates ("Seven Times Lucky") will direct the adaptation he co-wrote with MacDougall. The trade publication notes production has already begun on the film from Triptych Media, Shoreline Entertainment and Buffalo Gal Pictures.
Based on the original stage play, "High Life" centers on a bank heist enacted by four junkies.
Olyphant ("Deadwood," "Hitman," "Go"), who has appeared on stage in The Santaland Diaries and The Monogamist, will head the cast opposite Anderson ("Across the Universe"), Stephen Eric McIntyre ("The Lookout") and Rossif Sutherland ("Poor Boy's Game").
MacDougall's High Life earned the first-time scribe an Outstanding New Play honor at the 1996 Dora Mavor Moore Awards. The work made its American premiere at Primary Stages in 1999.
Other plays include The Ginkgo Tree, Waterdown Road and Who Has Seen the Wind. He has also appeared as an actor in the Canadian stagings of Mamma Mia! and Urinetown: The Musical as well as in "Mark Twain and Me," "The Incredible Crash Dummies," "The Lady in Question" and "Cheaper by the Dozen 2."