TORONTO, ONTARIO--(June 9, 2008) - Intertainment Media Inc. ("Intertainment" or the "Company") (TSX VENTURE:INT) is pleased to announce that it has negotiated a preliminary agreement to provide its voice powered social networking platform, Itibiti, to college age students with a major worldwide entertainment brand. In addition to the brand's highly recognizable online programs, its linear broadcasting is connected to over 200 University and College campuses in the US. The current online and collegiate programs reach over 5 million US consumers monthly. The timetable for the first phase of the program begins with the back to school events scheduled for mid August 2008.
Itibiti will be co-branded with the entertainment company and various paid sponsors. Revenues will be generated through integrated advertising, promotions, custom applications and permission based marketing. Itibiti will receive operational fees of up to 40% of the gross revenues, with the balance of the revenues split among the partners.
University and college students will be able to have a feature rich Itibiti desktop application with exclusive content, the ability to upload their own video blogs to the desktop player channel and free communications services. The application will also connect to popular 3rd party social networking and entertainment sites. Users will have access to free communication services both over the Internet and to land and mobile phones across North America. Itibiti will also be available to alumni, increasing distribution to the graduate community.
"Itibiti is quickly gaining traction among a wide range of marketing channels. Consumer brands, educational platforms and commercial enterprises are embracing the ability to reach their target audience through the desktop, and provide them with a technically robust and value oriented application to increase mind share. Itibiti will provide students with a clutter-free desktop environment where they can watch content, engage in a number of social activities and communicate all from one location, while at the same time creating a revenue based environment for Itibiti and its brand partners," said Mr. David Lucatch, CEO of Intertainment Media Inc.
In addition, Intertainment is pleased to announce that it has closed $390,000 of its previously announced private placement. The offering, consisting of units, was priced at $0.10 CDN and consisted of one common share and one common share purchase warrant at $0.18 for 2 years from the date of closing. The common purchase warrant has a feature that allows the Company to have the holder exercise the warrant if the stock reaches $0.30 CDN or higher for 30 consecutive days.
For industry information, comments and more, please visit the Intertainment Media blog at www.intertainmentmedia.com/blog
About Intertainment's Itibiti
Intertainment's Itibiti 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 Itibiti 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.
For more information, please contact
Corporate Inquiries:
David Lucatch
CEO
(905) 763-3510
or
Investor Communications:
Buchalter Consulting
1-866-631-6537
Email: Stan.Buchalter@BuchalterConsulting.ca
or
Online Investor Relations Hub:
AGORACOM
Email: INT@Agoracom.com
Website: www.agoracom.com/IR/intertainment
