All of you Harry Potter fans, grab your wand and book of spells; the "Fantastic Beasts and Where to Find Them" book-to-film adaptation finally gets a release date.

It was revealed this week that "Fantastic Beasts" will be released on Nov. 18, 2016. Let us take off the invisibility cloak and reveal what we know so far about "Fantastic Beasts" and Rowling's involvement, and figure out the significance of the release date.

Avada Kedavra! The "Harry Potter" film series ended with "The Deathly Hallows Part 2" in 2011, and "Fantastic Beasts" will make its debut five years after the film. Is this pretty quick? Some would say yes. But the Hogwarts textbook "Fantastic Beasts," which was featured in both the film and the book franchises, was released as a charity novel back in 2001.

The story is about a "magizoologist" named Newt Scamander, and his career and related adventures in the pursuit of magical creatures. Just like the book, it will take place 70 years before Harry Potter and his gang make their debut. And it is expected to take place in New York.   

Last September, Warner Bros. and Rowling jointly-announced their partnership. Warner Bros hopes that Fantastic Beasts will be the first in a series that follows the adventures of Scamander. The fantasy textbook/novel/story is less than 60-pages long, The Hollywood Reporter wrote.  

The "Fantastic Beasts" film debut will also be a first for Rowling; she will be making her screenwriting debut. Rowling revealed that when she first started creating the back story for Newt, she did not intend on writing a script, but she did end up finishing her first rough draft in just 12 days, the Latin Post reported.  

Rowling has also stated that "Fantastic Beasts" would not be a prequel or a sequel, but that it would take place in the wizarding world of Harry Potter, the L.A. Times reported. In March, Warner Bros. also revealed that the book will form the basis of three films, a la "The Hobbit" franchise. Rowling is expected to be writing all three screenplays.

Kevin Tsujihara, the CEO of Warner Bros. persuaded Rowling last year to create the spin-off of the Harry Potter franchise by adapting the Hogwarts textbook for the big screen. Tsujihara had also indicated that "Fantastic Beasts" would eventually become part of the studio's massive merchandising campaign, and part of the "Wizarding World of Harry Potter" theme parks, Variety reported.

The "Harry Potter" films made $7.7 billion worldwide between 2001 and 2011. And, just like "Fantastic Beasts," four of the eight "Harry Potter" films opened in mid-November. "Fantastic Beasts'" Nov. 18, 2016 release is the first title to land on that date. This is five days before Disney opens an untitled animated film, Variety reported.