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

Intertainment Media Inc.

February 27, 2014 13:57 ET

Intertainment Increases Value of Ortsbo and Reduces Corporate Debt

TORONTO, CANADA--(Marketwired - Feb. 27, 2014) - Intertainment Media Inc. ("Intertainment Media" or "Company") (TSX VENTURE:INT)(OTCQX:ITMTF)(FRANKFURT:I4T) is pleased to announce that it has entered into a binding letter of intent with a significant debt holder that provides for the conversion of approximately CDN$3.425 Million of unsecured debt into common shares of its subsidiary Ortsbo Inc. priced at an enterprise value of USD$50 Million for Ortsbo Inc.

In addition to the debt conversion, the Company also intends to complete the final payment on March 3, 2014 with respect to a settlement agreement that had an original outstanding amount of CDN$2.0 Million. The settlement required the Company to pay on average over $100,000 per month and the completion of the settlement payments will reduce the ongoing monthly expenditures for the Company on a go forward basis by an equal amount.

This reduction in current liabilities is significant to Intertainment Media as it continues to make strides in both operational efficiencies and debt reduction and continues to develop and invest in leading edge digital technologies and social media applications.

Intertainment Media's Annual General and Special Meeting of Shareholders will be held on February 28, 2014 at 9:30 am Eastern at the Sheraton Parkway Hotel and Conference Centre in Richmond Hill, ON.

Learn more at www.intertainmentmedia.com

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 and has investments in leading edge technologies and social media platforms, including Magnum, Ortsbo, CapThat, theAudience, Lexifone, Shiny Ads and Yappn Corp (www.yappn.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 Open Market (Regulated Unofficial Market) Frankfurt Exchange 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 expected reduction in current liabilities.

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 regulators. 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.

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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