$5,000,000 FINANCING BABY, GD ENTERTAINMENT & TECHNOLOGY, INC. SECURES $5 MILLION FUNDING COMMMITMENT
AGOURA, CA – August 20, 2015 – GD Entertainment & Technology, Inc. (formerly Donini Inc.) (OTC Markets: GDET), a leading entertainment and technology company, is pleased to announce that it hashas secured a $5 million preferred equity investment commitment to further advance its intellectual property development, fund expansion efforts into Asia and other working capital needs. The Preferred Equity commitment is being provided by Premier Venture Partners, LLC, a Los Angeles-based private equity firm.
"This funding commitment comes at a critical time for the company as we prepare for our audit and the filing of our Form 10 to become a fully reporting company," said Dong Chung, CEO of GDET. "By having this commitment in place, we can be in control of our destiny with regards to the long term growth of the Company. With the support of Premier Venture Partners, we feel we will have greater flexibility for generating revenues and creating shareholder value."
Lawrence Bracco, COO of GDET commented, “It was a pleasure working the Premier team. They were very responsive to our financing needs, and understood our desire to create long term stability. We can now focus on our immediate objectives and projects.”
About GD Entertainment & Technology, Inc.:
GDET specializes in the development, production and exploitation of entertainment properties and technologies worldwide. Over the past 10 years, GDET and its management have created, produced, and/or distributed a variety of family-friendly content, including:Conan the Barbarian animated DVD, animatedVoyages 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. Management has been conducting business in Asia for more than 25 years, and has significant relationships with major corporations, investors and production facilities in Korea, Thailand, China, Japan and other markets. GDET has several projects in development including an animated feature film and a live stage show, as well as an adaptation of a successful juvenile graphic novel series for eBook and digital video.
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