WESTLAKE VILLAGE, Calif., Dec. 1, 2014 (GLOBE NEWSWIRE) — Donini Inc. (OTC Pink Marketplace:DNNC) today announced that it has completed its previously announced merger with GD Entertainment Technology, Inc. (GDET). In accordance with the terms of the merger agreement, GDET has become a wholly owned direct subsidiary of Donini. Under the terms of the agreement, Donini has acquired all of the outstanding shares of common stock of GDET. Donini will assume the name of GD Entertainment Technology, Inc. in keeping with the new focus of the Company. Reorganization of the Company is now complete and the prior Board of Donini has resigned.
“I am very proud of all of the hard work that has gone into close this transaction. This has required a tremendous amount of work by a number of people from both sides. I especially want to thank Donini CEO Peter Deros for his cooperation and assistance,” said Dong H. Chung, CEO of GDET. “We look forward to communicating with our partners and shareholders in the coming weeks about our plans and projects in production.”
“The entire GDET team was extremely focused and professional during this process,” added Deros, “and I am confident in their ability to execute on their business plans moving forward.”
Lawrence Bracco, Chief Operating Officer of GDET, commented: “This is really just the first step in what will be a concerted effort to being positioned as a premier provider of quality family media, entertainment and technology worldwide. We look forward to generating significant shareholder value from our intellectual properties, co-productions and projects.”
GD Entertainment Technology, Inc. (GDET) specializes in the development, production and exploitation of entertainment properties and technologies worldwide. Over the past 10 years, GDET (formerly Golden Dog Productions) has created, produced, financed and/or distributed a wide variety of family-friendly content, including: Conan the Barbarian animated DVD, animated Voyages of Young Dr. Doolittle and Adventures of Odyssey. GDET also produced the acclaimed graphic novel series, The Almighty Bible, an ebook and print version of the Bible for teenagers around the world. The first book, Genesis, we released in September, 2010, and 8 books have been released to date. GDET principals have over 80 years of combined experience in producing and distributing media properties, managing, consulting to and licensing major brands and intellectual properties worldwide, including Warner Brothers, Marvel/Disney, Dr. Doolittle, Mommy Me, Build-a-Bear Workshop and the USO. Management has also been conducting business in Asia for more than 25 years, and has developed significant relationships with major corporations, investors and production facilities in Korea, Thailand, China, Japan and other markets. GDET has several family-focused 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 game.
For further information contact Lawrence Bracco, GD Entertainment Technology, Inc. (818) 338-5723.
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