After the tragic passing of RWBY creator Monty Oum, the future of the series was uncertain until recently when the Roosterteeth site posted an announcement on the future series.
According to the announcement Volume 3 is in pre-production and part of the animation Monty had worked on will be used. The staff will fill in the rest.
The show is scheduled to air sometime this year.
Why post this news here instead of Anime Island? Because of the fanfiction.
PS: Fans wondering when I’ll review Volume 2 will have to wait after Nanoha Month.