Mr. Rory Armes reports
GENER8 REPAYS FFD LOAN
Gener8 Media Corp. repaid its loan to Tianjin Fu Feng Da Movie and Television Investment and Development Co. Ltd. today and terminated the asset purchase agreement between the company and FFD as well, which will enable the company to pursue other opportunities. Pursuant to the previously announced amended loan agreement between Gener8 and FFD dated Dec. 12, 2014, the original loan amount of $3-million, plus accrued interest, was reduced to $1.25-million. Concurrent with the loan repayment, Gener8 is proceeding to discharge all of the related security.
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