The 59-year-old actor will essay the title role of a drug kingpin, mob mistress and devoted single mother, according to The Hollywood Reporter.
The film will be Norwegian filmmaker Eva Sorhaug's directorial debut in English, based on William Day Frank's script.
Sorhaug is ecstatic to have Stone onboard the project.
"Sharon Stone is the perfect actress to bring Sunny and all of her complexities to the screen. Her effortless ability to play strong, sexy women will take this fierce female character to the next level," she said.
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