[Update 10:30 a.m.] Square Enix has sent out an announcement confirming the cancellation of Gun Loco, but still did not disclose a reason.
[Original Story] The wacky third-person action title Gun Loco has reportedly been canceled by Square Enix. The game's official site is now just a large black text box, which Andriasang reports is a notice of the game's cancellation. No specific reason was given.
The game was announced last year, described as a "third-person, sprint-action shooter." As one of several convicts, you would traverse the environment to get off-planet, while taking out other convicts trying to escape before you.
Shacknews has contacted Square Enix for official confirmation on the report and will update this post if more information becomes available.