Intertainment Media Inc.
TSX VENTURE : INT
OTCQX : ITMTF
FRANKFURT : I4T

Intertainment Media Inc.

October 04, 2012 18:25 ET

Intertainment Announces Private Placement of Units

TORONTO, CANADA--(Marketwire - Oct. 4, 2012) -

NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

Intertainment Media Inc. ("Intertainment" or the "Company") (TSX VENTURE:INT)(OTCQX:ITMTF)(FRANKFURT:I4T) is pleased to announce that it intends to complete a non-brokered private placement of up to 12,500,000 units of Intertainment ("Units") at a price of $0.20 per Unit for aggregate gross proceeds of $2,500,000 (the "Placement"). Each Unit will consist of one common share and one common share purchase warrant exercisable at $0.29 for a period of two years from the date of issuance. The Company currently has confirmed interest and subscription agreements for an aggregate total of $1,100,000, including subscriptions from US strategic investment groups, and is finalizing additional interest and subscription agreements.

A finder's fee of up to 7% of the gross proceeds of the Placement may be paid on all or any portion of the funds raised pursuant to this Placement. In addition, finders may receive finders warrants of up to 7% of the number of Units issued in connection with the Placement. It is anticipated that the proceeds from the Placement will be used for general working capital and US expansion. Completion of the Placement is subject to approval from the TSX Venture Exchange.

About Intertainment - www.intertainmentmedia.com

Intertainment is one of Canada's leading technology incubators and is focused on developing, nurturing and investing in both North American and global technologies and companies that provide technology solutions for brands and consumers alike. Intertainment also owns and operates a number of key properties including Ad Taffy, itiBiti (KNCTR), Ortsbo, Deal Frenzy, The Sweet Card and Magnum, with investments in leading edge technologies and social media platforms including theaudience.com. For more information on Intertainment and its properties, please visit www.intertainmentmedia.com.

Intertainment is headquartered in the Toronto, Canada region, with offices in New York, Los Angeles and San Mateo, CA and is listed on the TSX Venture Exchange under the symbol "INT" (TSX VENTURE:INT) and in the US on the OTCQX Market under the symbol "ITMTF". Intertainment is also traded in Europe on the unofficial market of the Frankfurt Exchange through the XETRA trading platform under the symbol "I4T".

Forward Looking Information

This news release contains certain "forward-looking information" within the meaning of such statements under applicable securities law including statements relating to the proposed private placement of the Company.
Forward-looking information is frequently characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate", "may", "will", "potential", "proposed" and other similar words, or statements that certain events or conditions "may" or "will" occur. These statements are only predictions. Forward-looking information is based on the opinions and estimates of management at the date the statements are made, and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking statements. Actual timelines associated may vary from those anticipated in this news release and such variations may be material. 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. The Company undertakes no obligation to update forward-looking statements if circumstances or management's estimates or opinions should change, unless required by law. The reader is cautioned not to place undue reliance on this forward-looking information.

This news release is not an offer of securities for sale in the United States. Securities may not be offered or sold in the United States or to or for the account or benefit of U.S. persons (as such terms are defined in Regulation S under the United States Securities Act of 1933, as amended (the "U.S. Securities Act")), absent registration or an exemption from registration. The securities offered have not been and will not be registered under the U.S. Securities Act or any state securities laws and, therefore, may not be offered for sale in the United States, except in transactions exempt from registration under the U.S. Securities Act and applicable state securities laws.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

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