Genius Brands International "GBI" (OTCQB: GNUS) announces today the close of a $5.2million credit facility with Bank Leumi secured by its Netflix agreement to produce 30 x 11' episodes of Llama Llama, a new animated preschool series starring the voice talent of Jennifer Garner, based on the New York Times #1 bestselling children's book franchise.
"This is a milestone agreement for GBI on many levels," commented Andy Heyward, Chairman & CEO, GBI. "Since we sold neither stock nor equity, there is no dilution for this money. It insures we will have access to the value of the Netflix contract (which is payable on and in the months after delivery), and we will have no need for raising funds to produce the series. It also speaks to 3rd party validation of GBI's creditworthiness, by an active and well respected lender in the entertainment credit community."
GBI filed an 8K with the SEC on Friday, August 12, 2016 announcing the facility.
About Genius Brands International
Headquartered in Beverly Hills, California, Genius Brands International, Inc. "GBI" (OTCQB: GNUS) is a publicly traded global brand management company that creates and licenses multimedia content. Led by award-winning creators and producers, the company distributes its content worldwide in all formats, as well as a broad range of consumer products based on its characters. In the children's media sector, GBI's portfolio features "content with a purpose" for toddlers to tweens, which provides enrichment as well as entertainment, including tween music-driven brand SpacePOP; preschool property debuting on Netflix Llama Llama; award-winning Baby Genius, re-launched with new entertainment and over 40 new products; adventure comedy Thomas Edison's Secret Lab®, available on Netflix, public broadcast stations and GBI's Kid Genius channel on Comcast's Xfinity on Demand; Warren Buffett's Secret Millionaires Club, created with and starring iconic investor Warren Buffett. The company is also co-producing an all-new adult animated series, Cosmic Crusaders, with Stan Lee's Pow! Entertainment and The Hollywood Reporter. Additionally under GBI's wholly owned subsidiary, A Squared Entertainment, the company represents third-party properties, including From Frank, a humor greeting card and product line, and Celessence Technologies, the world's leading micro encapsulation company, across a broad range of categories in territories around the world. For additional information please visit www.gnusbrands.com.
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