TORONTO, CANADA, June 17, 2008- Intertainment Media Inc. (“Intertainment” or the “Company”) (TSXV:INT) is pleased to announce that it has entered an agreement to provide its voice powered social networking platform, Itibiti, to a major travel services enterprise. Full details will be released upon launch, which is expected within 60days.
Revenues will be generated through integrated advertising, sponsorship, promotions, custom applications and permission based marketing. Itibiti will receive operational fees of a minimum of 40% of the gross revenue, with the balance of the revenues split among the partners.
This is the first application of its kind in the industry as it allows users to monitor vacation pricing, watch exclusive resort and travel content, consumer video blogs and interact with friends and family using the built in communications suite featuring voice and text services right from the computer desktop. Users, who install the application on their laptop computer, can take it with them on vacation and call home for free by simply plugging into almost any hotel or resort Internet connection.
“With a changing global market for travel, Itibiti, in conjunction with its travel partner will provide consumers with the ability to browse, engage in content activities, reviews and shop effectively right from the computer desktop. Users can call their friends and family and plan vacations together, interactively using Itibiti. When they travel, consumers can also bring their laptop and use the existing facility Internet network to call home from anywhere in for FREE,” said Mr. David Lucatch, CEO of Intertainment Media Inc.
As previously announced on June 9th the Company announced the closing of its private placement. The Company paid to Raymond James Ltd. finder's compensation of $3,150 cash and 31,500 Units consisting of 31,500 common shares and 31,500 warrants with an expiry of two years or the 30 day acceleration clause.
For industry information, comments and more, please visit the Intertainment Media blog at www.intertainmentmedia.com/blog
About Intertainment’s Itibiti Platform
Intertainment’s Itibiti platform is a proprietary, social networking, multimedia and communications environment that can be installed directly on a user’s computer desktop. Itibiti provides clients with custom branding, loyalty and revenue opportunities prior to the user launching their Internet services. Key features of Itibiti 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 Communications:
Buchalter Consulting
1-866-631-6537
Stan.Buchalter@BuchalterConsulting.ca
Online Investor Relations Hub:
AGORACOM
INT@Agoracom.com
www.agoracom.com/IR/intertainment
.
