Oct 21 (Reuters) - Buddy Technologies Ltd BUD.AX :
* EXECUTED A DEED OF DEBT RELEASE WITH LUMINOUS WIDE AND EASTFIELD LIGHTING (HONG KONG)
* LUMINOUS AGREED THAT 50 MILLION OF 100 MILLION OPTIONS PREVIOUSLY ISSUED TO IT WILL BE CANCELLED
* IN ADVANCED DISCUSSIONS WITH A THIRD PARTY FINANCIER TO REFINANCE SETTLEMENT AMOUNT INTO NEW MULTI-YEAR LOAN FACILITY
* AGREED TO RELEASE AND FORGIVE US$10 MILLION DEBT AMOUNT OUTSTANDING UNDER AGREEMENT