Innovium Media Properties Corp.
TSX VENTURE : IN

Innovium Media Properties Corp.

April 12, 2006 08:30 ET

Innovium Invests US$1.8 Million in Seed Media Group

TORONTO, ONTARIO--(CCNMatthews - April 11, 2006) - Innovium Capital Corp. (TSX VENTURE:IN) reports that it has made an additional US$1,750,000 investment in Seed Media Group, LLC, a company based in New York City, for 35% of its Series B preferred shares. Co-investors include The Walnut Group, which was also a significant participant in the Series A preferred share financing of May 2005 in which Innovium invested US$800,000 for 20% of the Series A preferred shares. Both the Series A and Series B preferred shares are convertible into common shares.

Concurrent with the second capital infusion, Jamie Macintosh, President and COO of Innovium, will join Neil Raymond, Chairman and CEO of Innovium, on the Board of Directors of Seed Media Group.

Other recent developments at Seed Media Group include:

- In March 2006, the Company strengthened its Senior Management Team with the hiring of Dean Daniels as Chief Operating Officer. Mr. Daniels was formerly a Senior Vice President at Gartner, Inc. in charge of worldwide research as well as its G2 and GartnerNews properties. Prior to working at Gartner, he was President and COO of TheGlobe.com, an online games editorial network with its Computer Games Magazine, a 400,000-paid circulation niche publication. Mr. Daniels was also the General Manager at CBS News New Media division, helping the network to launch and establish its digital entertainment presence through partnerships such as CBS.Sportsline.com and CBS.Marketwatch.com. Mr. Daniels also brings to Seed Media Group extensive broadcast expertise from his 18 years at affiliate television and radio stations across the country.

- In January 2006, the Company launched ScienceBlogs, the web's largest conversation about science. It features blogs from a wide array of scientific disciplines, with new voices coming on board regularly. ScienceBlogs (www.scienceblogs.com) forms the third element of the Seed Digital Network, which also includes www.seedmagazine.com and www.phylotaxis.com.

- Seed Digital, dedicated to developing world-class science content across digital media channels, was launched in late 2005. The General Manager of this division, Michael Tive was formerly Vice President of Marketing at Sony Online. Prior to joining Sony, Mr. Tive was Director of Marketing Services at A&E Television Networks and Director of Advertising and Promotion at CBS Radio.

- Also in late 2005, Seed Media Group hired Fabien Savenay as Managing Director, International. Mr. Savenay was formerly Global Head of Advertising and Sponsorship at Nature Publishing Group with responsibility for all Nature-branded print and online properties, including NatureJobs, its award winning recruitment website.

About Seed Media Group, LLC

Seed Media Group is a science media and entertainment company headquartered in New York with vested interests in publishing and digital media. Seed Media Group properties include Seed magazine, seedmagazine.com, scienceblogs.com and phylotaxis.com. For more information, please visit seedmediagroup.com.

About Innovium Capital Corp.

Innovium invests in innovative opportunities and trades under the symbol IN on the TSX Venture Exchange. The Company benefits from an ongoing income stream from past agri-divestitures and its venture investment portfolio includes interests in Seed Media Group LLC, a science media and entertainment company which develops original science content; CablesEdge Software, which has developed the simplest, and most accessible, way for mobile users to access desktop information with the fewest keyclicks from any mobile device; First Person Plural, an interactive marketing and advergaming company; and RxRite, a developer of point-of-care e-Prescribing solutions providing physicians, pharmacies, payers and Pharmacy Benefit Managers with the ability to communicate effectively for the safe and secure creation, transmission, and processing of electronic prescriptions. Innovium also maintains a portfolio of liquid investments, including a position in Atlantis Systems Corp. (TSX:AIQ).

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

Contact Information