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.
"Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995: When used in this release, the words "may," "will," "expect," "anticipate," "continue," "estimate," "project," "intend," "believe," and similar expressions, variations or the negative of these words, and any statement regarding possible or assumed future results of operations of our business, the markets for our products, anticipated expenditures, regulatory developments or competition, or other statements regarding matters that are not historical facts, are intended to identify forward-looking statements, although not all forward-looking statements contain such identifying words. The reader should be aware that our actual results could differ materially from those contained in forward-looking statements. Our financial condition and the results of our operations will depend on a number of factors, including, but not limited to, the following: our ability to realize the expected benefits from the acquisition; our ability to successfully identify, consummate and integrate acquisitions; our ability to implement our growth strategy and acquisition program; our ability to retain key customers; our ability to compete successfully with our competitors; general global economic and political conditions resulting from threats or acts of war or terrorism and responses thereto; access to capital; our ability to secure additional financing; maintaining satisfactory relationships with commercial banking institutions; establishing controls with regard to and maintaining the integrity of technology and information systems; and, reliance upon executive officers and key personnel. There may be other factors not mentioned above or included in our filings on the OTC News and Disclosure Service that may cause actual results to differ materially from any forward-looking statement. The reader should not place undue reliance on any forward-looking statement. Except as required by law, GD Entertainment & Technology, Inc. expressly disclaims any obligations or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in its expectations with respect thereto or any new information, future developments, or change in events, conditions or circumstances on which any statement is based.
Source:GD Entertainment & Technology, Inc.