VANCOUVER, BC / ACCESSWIRE / October 14, 2014 / Gener8 Media Corp. ("Gener8") (CSE: GNR) announces the latest Cumul8 Technologies Inc. ("Cumul8") updates:
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-- Cumul8 is close to completing two enterprise contracts. These clients are also signing additional contracts to continue and expand Cumul8 services to new areas of their businesses. These contracts combined with previous enterprise work have helped build the foundation of Cumul8's enterprise revenue model. These initial projects have also created opportunities to expand deeper into the manufacturing and entertainment industries.
-- With three industries represented to date by enterprise clients--manufacturing, movies and video games--Cumul8 is gaining traction on achieving its 2015 revenue targets. The Cumul8 team continues to aggressively pursue new enterprise contracts in these industries and anticipates adding an additional industry by early 2015.
-- Along with the Cumul8 enterprise solution, the team is developing a Software as a Service (SaaS) offering. Leveraging its enterprise experience, the team is developing and building a SaaS product, which enables users to create live descriptions, stories or narratives with their data. The goal is to have the beta SaaS product in customers' hands by mid 2015.
-- With Gener8's G83D technology fully developed as a leading conversion solution in Hollywood and globally, Gener8 COO Tim Bennison is now focused on building and running the Cumul8 SaaS product development team.
-- The Cumul8 team has grown to 12 people, including two recent additions from Microsoft in software engineering and user interface design.
About Gener8
Gener8 Media Corp. is a media technology company led by a team of gaming industry veterans. At the forefront of postproduction, the company earned its stripes by developing a proprietary 3D conversion technology, garnering high-profile credits including Godzilla, Maleficent and 300: Rise of an Empire. Gener8 has since expanded into offering visual effects services and a cloud-based data management and analytics solution called Cumul8. With its focus on developing disruptive solutions that combine design and technology, Gener8 funded and then acquired a majority interest in Reelhouse Media Ltd., an online entertainment distribution start-up. Gener8's head office is located in Vancouver, British Columbia. Visit the company website at www.gener8.com.
On Behalf of the Board of Directors
"Rory Armes"
Rory Armes
Chief Executive Officer and Director
The CSE does not accept responsibility for the adequacy or accuracy of this release.
Forward Looking Statements
Except for statements of historical fact, this news release contains certain forward-looking statements within the meaning of applicable securities law. Forward-looking statements are frequently characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate" and other similar words, or statements that certain events or conditions "may" occur. Although Gener8 believes that the expectations reflected in the forward-looking statements are reasonable, there can be no assurance that such expectations will prove to be correct. Such forward-looking statements are subject to risks and uncertainties that may cause actual results, performance or developments to differ materially from those contained in the statements. Except as required under applicable securities legislation, the Company undertakes no obligation to publicly update or revise forward-looking information, whether as a result of new information, future events or otherwise.
For more Information, please contact:
Danielle Rockel
Vice President of Corporate Affairs
[email protected]
Suite 100, 138 East 7th Avenue
Vancouver, British Columbia, V5T 1M6
Phone: (604) 669-8885
Fax: (604) 669-8855
SOURCE: Gener8 Media Corp.