VANCOUVER, BC / ACCESSWIRE / July 2, 2014 / Gener8 Media Corp. (CSE: GNR) ("Gener8" or the "Company") is pleased to announce the results of the Company's annual and special general shareholder meeting (the "AGM"). The AGM was a success with over 98% approval on all resolutions presented at the meeting including: appointing KPMG LLP as Gener8's auditors, setting the number of Directors at four, with Rory Armes, Ken Scott, Neil Murdoch and Tim Bennison reappointed, approving advance notice provisions for the nomination of directors by shareholders to be added to Company's articles, and approving the Company's 10% rolling stock option plan.
The Company is pleased to announce the following update on its operations:
- Gener8 continues to close new 3D conversion contracts for films set to release through to 2015;
- Gener8 recently added its first manufacturing client for Cumul8;
- Reelhouse announced the launch of major upgrades to its "Reelhouse Direct" platform and has continued to garner more attention from media, more films in its roster and more paying viewers; and
- Gener8 and Tianjin Fu Feng Da Movie & Television Technology Investment and Development Co., Ltd. ("FFD") continue to work toward closing the 3D partnership agreement, which is awaiting final government approvals.
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 "300: Rise of an Empire," "Godzilla," and "Maleficent." 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 and currently has over 200 employees. Visit the company website at www.gener8.com.
ON BEHALF OF THE BOARD OF THE COMPANY
Chief Executive Officer and Director
FOR MORE INFORMATION, PLEASE CONTACT:
Vice President of Corporate Affairs
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. In particular, forward-looking statements in this press release include statements with respect to the partnership agreement with FFD and the closing of certain 3D conversion contracts for films set for release in 2015. 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 including, without limitation, risks with respect to: obtaining all necessary regulatory approvals for the transaction with FFD; general economic conditions in Canada and globally; film industry conditions; competition for, among other things, capital and skilled personnel; changes in economic and market conditions that could lead to reduced spending on 3D film conversion; potential delays or changes in plans with respect to deployment of services or capital expenditures; our ability to hire and retain qualified employees and key management personnel; possibility that government policies or laws may change; amount and timing of operating costs and capital expenditures; the success of certain business combinations engaged in by the Company or by its competitors; possible disruptive effects of organizational or personnel changes; technological change, new products and standards; risks related to acquisitions and international expansion; reliance on large customers; reliance on a limited number of suppliers; risks related to the Company's competition; the Company's failure to adequately protect its intellectual property; interruption or failure of information technology systems; the risk that the FFD transaction may not be completed as planned, or at all; and business, legal and/or regulatory risks relating to Gener8's business, financings and strategic acquisitions. 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.
SOURCE: Gener8 Media Corp.