GD ENTERTAINMENT & TECHNOLOGY, INC. (GDET) and WOWIO (WWIO)
Provide Expanded Details On Joint Venture & Stock Swap;
Announces Joint Korean Trip
AGOURA, CA -- September 30, 2015 -- InvestorsHub NewsWire
-- GD Entertainment & Technology, Inc. (OTC
Markets: GDET) and Wowio, Inc. (OTC
Markets: WWIO) today released further details regarding their
September 23, 2015 Joint Venture and Stock Swap. The GDET/WWIO JV
calls for a stock swap that amounts to 15% of each others Preferred
Shares, weighted for current value, as well as a licensing
agreement for the Wowio eBook advertising platform for Asia.
We are pleased to be moving forward together with GDET,
indicated Robert Estareja, CEO for Wowio. By exchanging our shares
for equal value, it signals our mutual commitment to pursue our
Korean plans while enhancing our value for both companies
shareholders.
GDET plans to manage the completion of the Wowio mobile app in
Korea, with one of its technology partners, as well as customize
the platform to provide Korean users an engaging way to improve
their English language learning while watching Wowio-provided
comics and graphic novels. This innovative learning tool will be
provided to potentially 40+ million Koreans free of charge, with
advertising served up using Wowios patented technology.
The market for digital English language learning programs in
Asia is expected to hit nearly $2 billion in 2018, according to a
2014 Ambient Insight report. Last year, Korean families alone spent
more than $8 billion on English language learning programs not
provided in traditional school environments.
The market for English language learning in Asia, especially
Korea, is at an all-time high and growing, explained Dong Chung,
CEO for GDET. Our relationships in the Korean market are anxious to
participate in a new platform that will allow the everyday consumer
a free or low cost way to enhance their English learning. Chung
expects the new platform to be ready for deployment in the Korean
market by mid-2016, with revenues beginning immediately due to key
sponsorship sales.
GDET and Wowio executives are planning a joint trip to Seoul in
October to finalize its business and technology relationships,
including the selection of inaugural sponsors for this unique
English language learning tool.
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