GD ENTERTAINMENT & TECHNOLOGY, INC. (GDET) and WOWIO
Announce Stock Swap and Joint Venture; Eyes Korean Market for eBook
Content Distribution and English Language Learning
AGOURA, CA -- September 23, 2015 -- InvestorsHub NewsWire
-- GD Entertainment & Technology, Inc. (OTC
Markets: GDET), today announced that it has signed a definitive
Joint Venture Agreement with WOWIO, Inc. (OTC
Markets: WWIO) to join forces for the mutual development and
exploitation of the WOWIO eBook platform in Korea and other Asian
markets. In addition, GDET will seek to distribute WOWIO comic
books and graphic novels in Korea in both print and digital form.
The WOWIO platform allows for the insertion and tracking of
targeted ads directly into the eBook, while providing a methodology
for enhancing English language learning for the Korean market. A
key part of this joint venture is a preferred stock swap between
the two firms, signaling to the markets a deepened and long term
commitment to their mutual growth and success.
We are excited about our relationship with GDET and believe that
the two companies have tremendous synergies, said Brian Altounian,
WOWIOs Chairman. We believe that shareholders from both our
companies will benefit in the long term from our growing
partnership.
The Korean market provides not only an untapped and growing
market for the unique WOWIO platform, but also a way for WOWIO to
distribute its proprietary intellectual properties, explained Dong
Chung, CEO of GDET. In addition, our technology partners in Korea
will enhance the patented WOWIO system to make it more mobile
friendly and provide a way for Koreans to learn English in an
engaging manner.
Lawrence Bracco, President/COO of GDET stated, The WOWIO
platform and content provides us with a way to generate revenues in
the first quarter of 2016. We plan on introducing the WOWIO
comic/graphic novel library to the Korean market as a way to
supplement their English learning in a way thats fun and
engaging.
This joint venture with GDET, the first in a series of
transactions we hope to accomplish in our new business plan,
provides us with a very specific pathway to complete our technology
platform, generate revenues and improve our balance sheet through
the acquisition of GDET stock, said Robert Estareja, WOWIOs CEO, We
are very pleased with the GDET team and vision, and look forward to
deepening our relationship with them.
This joint venture also allows for the global cross-licensing of
each others content and technology, and paves the way for the
potential of an even broader relationship.
About GD Entertainment & Technology, Inc.:
GDET specializes in the development, production and exploitation
of media and technologies worldwide. GDET and its management have
created, produced, and/or distributed a variety of family-friendly
content, including: Conan the Barbarian animated DVD, animated
Voyages of Young Dr. Doolittle and Adventures of Odyssey and the
acclaimed graphic novel series, The Almighty Bible, an ebook &
print version of the Bible for teenagers. GDET principals have over
80 years of combined experience in producing and distributing
media, consulting to and licensing major intellectual properties
globally, including Warner Brothers, Marvel/Disney, and Mommy &
Me. GDET has several projects in development including an animated
feature film, a live stage show and an adaptation of a successful
juvenile book series for digital video and mobile games. Its
acclaimed graphic novel, The Son, is now being distributed in North
America and Europe.
About WOWIO
WOWIO, Inc., (OTCBB:
WWIO) is a digital media and technology development company
with a patented process and a proprietary mobile ad-delivery
platform that will disrupt the eBook distribution landscape by
exploiting a previously untapped marketplace: ad-supported eBooks.
Wowio has built and acquired a number of digital media
technologies, platforms and distribution outlets and is focusing
its efforts on opportunities to create and monetize ancillary
content product lines beyond eBooks and other forms of digital
media. To learn more about WOWIO, please visit our corporate
website at http://www.studiowdigital.com.
Safe Harbor Statement
Information in this document constitute forward-looking
statements or statements which may be deemed or construed to be
forward-looking statements within the meaning of the Private
Securities Litigation Reform Act of 1995. The words "estimate,"
"project," "intend," "expect," "should," "believe," and similar
expressions are intended to identify forward-looking statements.
These statements involve, and are subject to known and unknown
risks, which could cause GDET actual results, performance
(financial or operating) or achievements to differ from the future
results, performance or achievements expressed or implied by such
forward-looking statements. The risks, uncertainties and other
factors are more fully discussed in GDET filings and Disclosures.
All forward-looking statements attributable to GDET herein are
expressly qualified in their entirety by the above-mentioned
cautionary statement. GD Entertainment & Technology, Inc.
disclaims any obligation to update forward-looking statements
contained herein, except as may be required by law.
Contact:
Lawrence Bracco
Tel: 805-208-3171 larrybracco@gdetinc.com