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

Innovium Media Properties Corp.

February 27, 2009 15:19 ET

Innovium Completes $700,000 Term Loan

TORONTO, ONTARIO--(Marketwire - Feb. 27, 2009) - Innovium Media Properties Corp. ("Innovium") (TSX VENTURE:IN) (FRANKFURT:IH7) reports that it has completed a $700,000 term loan. The Loan is a 12%, three-year note, maturing on February 27, 2012. Innovium has the option of repaying the loan at any time after August 27, 2009 without penalty. The loan carries two three-year warrants per dollar invested, resulting in the issuance of 1,400,000 common share purchase warrants exercisable at $0.10 per share until February 27, 2010 and then $0.15 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").

For additional information: www.innovium.ca or innovium@innovium.ca.

We seek safe harbour.

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
    (514) 281-0294 (FAX)
    Email: ceo@innovium.ca
    or
    Innovium Media Properties Corp.
    Jamie Macintosh
    President and COO
    (416) 862-7444
    (416) 862-7007 (FAX)
    Email: coo@innovium.ca
    or
    Innovium Media Properties Corp.
    Julio DiGirolamo
    CFO and Corporate Secretary
    (416) 862-7444
    (416) 862-7007 (FAX)
    Email: cfo@innovium.ca
    Website: www.innovium.ca