VANCOUVER, BRITISH COLUMBIA, May 16, 2013 - Gener8 Media Corp. (CNSX:GNR) ("Gener8" or the "Company") is pleased to announce that it has been awarded funding by the National Research Council of Canada ("NRC").
The NRC's Industrial Research Assistance Program ("IRAP") has awarded the Company $50,000 to perform an analysis and plan for a Stereoscopic Conversion Optimization R&D project. This project is the precursor of a larger R&D initiative to streamline and optimize Gener8's G83D(R) stereoscopic conversion technology by solving complex computer science problems.
"This support from the NRC is a huge endorsement of our R&D team and our efforts to revolutionize 3D technology," says Rory Armes, CEO. He goes on to say, "Our hope is that this is the first step toward an on-going relationship with the NRC."
According to Tim Bennison, the Company COO, "This project allows us to create a comprehensive and workable plan to optimize our proprietary stereo conversion technology. Not only is IRAP contributing funds to our project, but they are supporting us with their technical and academic connections."
The project is expected to take three months to complete. At the end of the project, Gener8 intends to have a feasibility and implementation plan to optimize its stereoscopic conversion pipeline.
Gener8 is a media technology company with two divisions--a studio and a technology group. Its studio is an industry leader in 3D stereo conversion services for the entertainment industry, with many high profile credits including The Amazing Spider-Man, Ghost Rider 2 and Harry Potter. The technology division provides 3D technology and cloud-based data management and analytics (Cumul8) to the entertainment industry. Gener8's head office is located in Vancouver, British Columbia and has approximately 140 employees across both divisions. The executive team draws on years of experience developing graphics technology in commercial software, video games and the film industry. To learn more, visit the company website: http://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
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Forward Looking Statements
Except for statements of historical fact, this news release to shareholders 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, but are not limited to, statements with respect to: potential stereoscopic conversion optimizations and improvements, any results of the project, future R&D plans, or future IRAP funding. Although Gener8 Media Corp. (the "Company" or "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: 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; interruption or failure of information technology systems; the development, implementation and execution of the Company's technologies strategic vision; 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.