Replies to post #23929 on GD Entertainment and Technology Inc (GDET)

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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.