TORONTO, March 19, 2008 – Intertainment Media Inc. ("Intertainment” or the "Company") (TSXV: INT) announced today that subject to TSX Venture Exchange approval, it will seek to complete a non brokered private placement of up to $1 Million CDN.
The offering will consist of Units comprised of one (1) common share at a price of $0.10 CDN and (1) common share purchase warrant with an exercise price of $0.18, valid for two (2) years from the time of closing. The Company will have the right to accelerate the expiry date of the common share warrant in the event the closing price of the shares is $0.30 or higher for 30 consecutive trading days during the two (2) year period. Eligible parties will receive 7% cash commissions and 7% broker warrants.
“As the Company prepares for the launch of its Voice Powered Social Networking programs it will continue to look at strategic, long term financing opportunities. In the interim, the Company believes that it already has strong interest for this offering,” said Mr. David Lucatch, CEO of Intertainment Media Inc.
The capital raised will be used for strategic growth opportunities, and for general corporate purposes. The Company may choose to issue fewer units than the maximum.
About Intertainment’s Itibiti Softphone Platform
Intertainment’s Itibiti Softphone platform is a proprietary, social networking, multimedia and communications environment that can be installed directly on a user’s computer desktop. This provides clients with custom branding, loyalty and revenue opportunities prior to the user launching their Internet services. Key features of the Softphone platform include IP Telephony, video/multimedia on demand, instant messaging, SMS, integrated in a feature rich interface that includes a mini web browser, desktop telephone and chat system which can be utilized to create active links to the affinity partners web pages, providing information and outside services and a complete advertising and marketing platform for revenue generation.
About Intertainment
Intertainment Media Inc. (www.intertainmentmedia.com) is a conventional and new media company with an experienced and innovative team of professionals focused on delivering leading edge technology and marketing solutions. Intertainment develops and invests in strategic programs that enable clients to increase their branding and loyalty relationships with their consumers while focusing on increased revenue generation. Intertainment owns, operates and invests in high value content, traffic management, advertising and social networking solutions including, Eye Rock Digital (www.eyerockdigital.com) No Good TV (www.ngtv.com), Trooker Inc. (www.trooker.com), and Itibiti Inc. Intertainment Media Inc. is headquartered in Richmond Hill, Ontario, Canada. The company is listed on the Toronto Venture Exchange (symbol: INT).
This news release may contain forward-looking statements. These statements are based on current expectations and assumptions that are subject to risks and uncertainties. Actual results could differ materially because of factors discussed in the management discussion and analysis section of our interim and most recent annual financial statements or other reports and filings with the TSX Venture Exchange and applicable Canadian securities regulations. We do not undertake any duty to update any forward-looking statements.
Corporate Inquiries:
David Lucatch, CEO
905-763-3510
Investor Relations:
Buchalter Consulting
1-866-631-6537
Stan.Buchalter@BuchalterConsulting.ca
Online Investor Relations Hub:
AGORACOM
INT@Agoracom.com
www.agoracom.com/IR/intertainment
