Accomplished Business Executive to join Board
TORONTO, CANADA, September 3, 2008- Intertainment Media Inc. (“Intertainment” or the “Company”) (TSXV:INT) is pleased to announce that business and technology veteran, Mr. Robbie C. Banks has joined the Board of Directors of the Company. Mr. Banks will also be active with the Company and Itibiti Systems, providing assistance with the implementation of operational activities, corporate and strategic development and growth opportunities.
“Intertainment and Itibiti Systems have developed a significant number of key brand opportunities globally. I look forward to bringing my knowledge and corporate development expertise to the Board of Directors and the Company with a view towards increasing shareholder value“ said Mr. Banks.
Robbie has experience as a senior executive providing leadership to numerous high growth and technology companies on a global basis. He specializes in corporate growth and development through strategic planning and implementation with the objective of maximizing shareholder value for investors. Mr. Banks was most recently President, CEO and corporate director for Gedex, a company specializing in proprietary subsurface image technology that dramatically improves the success in the exploration of natural resources. Under his tenure, Gedex, an emerging company, raised over $15 Million and grew its private business internationally.
Robbie has also held senior positions with IMAX, Olympia and York Developments and Cedara. He is currently President of RCB Management Consultants which has worked with many high profile companies including Purolator Courier, Drake International and A. L. Van Houtte.
Mr. Banks was graduated as a Master of Business Administration from the University of Western Ontario and a Bachelor of Electrical Engineering from General Motors Institute (Kettering University). He is registered as Professional Engineer.
“We are honoured to have Mr. Banks join our Board of Directors. This is a key opportunity for Intertainment and Itibiti Systems to improve its operational and business activities. Robbie’s knowledge and experience in the technology industry and overall business environment will assist us as we move forward with our core business offerings,” said Mr. David Lucatch, CEO of Intertainment Media Inc.
The Company, subject to TSX Venture Exchange approval, will look to complete a brokered private placement of up to $3 Million CDN. Accredited investors will have the ability to purchase units (“Units”) at a price of $0.10 CDN per Unit for a maximum of 30,000,000 Units (the “Offering”). Each Unit will consist of one common share (“Common Share”) and one Common Share purchase warrant (“Warrant”). Each Warrant entitles the holder to acquire one Common Share at an exercise price of $0.18 for a period of 2 years from the date of issuance. In addition, the Company will have the right to have the Warrants exercised if the trading price of the Common Shares equals or exceeds $0.30 per Common Share for a period of 30 consecutive trading days upon providing the Warrant holders with 30 days notice.
The Offering will be led by Toronto based D&D Securities Company. The Company will pay eligible parties 8% commission in cash and provide an option to purchase up to 8% of the Units sold at $0.10 per Unit for a period of 18 months from the date of completion of the Offering.
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 proposed pursuant to the Offering.
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 Systems (www.intertainmentmedia.com/itibiti/p... ).
Intertainment Media Inc. is headquartered in Richmond Hill, Ontario, Canada. The company is listed on the Toronto Venture Exchange (symbol: INT).
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
