This image was researched by Bacchus at ErosBlog as part of the “Δ commission.” The research was originally published at Hedonix as “Δ 033 Grimly Reaping. Here is what Bacchus found.

This, obviously, is a promotional poster for a movie called The Living Dead. According to IMDB, the movie was originally released in the UK in 1934 as The Scotland Yard Mystery. It was released in 1935 in the United States, followed by a 1936 re-release as The Living Dead.

The text visible on the poster reads:

“The Living Dead, with Gerald du Maurier, George Curzon, Belle Christall. From a play by Wallace Geoffrey. Directed by Thomas Bentley. Alliance Films. A First Division release.”

The IMDB storyline summation is “A mad scientist devises a formula that puts people into a zombie-like trance to do his bidding.” An IMDB user review explains that the villain “has developed a serum that puts people in a death-like state. Once “dead”, they can collect their life insurance money and he gets his share.”

A high-quality gallery here includes a second poster by (seemingly) the same artist for this movie:

Sadly, no information about the artist who painted these posters seems to be available. The Wallace Geoffrey credited on the posters for writing the underlying play has 13 actor credits for movies between 1931 and 1938; he also is known to have written a play (with Basil Mitchell) called The Perfect Woman that was performed in London in 1949 and made into a BBC Sunday Night Theater episode in 1956.