Innovium Media Properties Corp.
TSX VENTURE : IN
FRANKFURT : IH7

Innovium Media Properties Corp.

May 08, 2009 16:00 ET

Innovium Closes $700,000 Term Loan

TORONTO, ONTARIO--(Marketwire - May 8, 2009) - Innovium Media Properties Corp. ("Innovium") (TSX VENTURE:IN)(FRANKFURT:IH7) reports that a $700,000 term loan, previously announced on February 27, 2009, has closed. The terms of the loan remain unchanged, with the exception of the terms of the 1,400,000 common share purchase warrants that were adjusted prior to closing. The warrants are now exercisable at $0.10 per share until February 27, 2012.

The proceeds will be used for working capital purposes including the continued support of Seed Media Group LLC.

About Innovium Media Properties Corp.

Innovium's venture investment portfolio is devoted to Seed Media Group LLC, a private media and technology company focused on the professional and consumer science markets. Seed's award winning brands include Seed® (www.seedmagazine.com) and ScienceBlogs® (www.scienceblogs.com). Innovium trades under the symbol IN on the TSX Venture Exchange ("TSX - V") and IH7 on the Frankfurt Stock Exchange ("FWB").

Neither the TSX Venture Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.

Contact Information

  • Innovium Media Properties Corp.
    Neil Raymond
    Chairman and CEO
    (514) 281-0481
    ceo@innovium.ca
    or
    Innovium Media Properties Corp.
    Jamie Macintosh
    President and COO
    (416) 862-7444
    coo@innovium.ca
    or
    Innovium Media Properties Corp.
    Julio DiGirolamo
    CFO and Corporate Secretary
    (416) 862-7444
    cfo@innovium.ca