Intertainment Media Inc.

Intertainment Media Inc.

December 01, 2011 09:15 ET

Intertainment Media Announces Withdrawal of Preliminary Short Form Prospectus & Provides Corporate Update

TORONTO, CANADA--(Marketwire - Dec. 1, 2011) -


Intertainment Media Inc. ("Intertainment" or the "Company") (TSX VENTURE:INT)(OTCQX:ITMTF)(FRANKFURT:I4T) announces that it will not continue with the short form prospectus offering previously announced in a press release dated August 17, 2011 as management and the board of directors do not feel that further dilution through financing is warranted at this time.

The 19,760,271 special warrants issued on May 13, 2011 were deemed to be exercised effective September 14, 2011 and the common shares and the warrants to which holders of special warrants are entitled have been deemed to be issued to such holders and all previously issued and outstanding special warrants have been cancelled pursuant to the their terms.

The board of directors of the Company elected at the annual general and special meeting of the shareholders of the Company held on November 29, 2011 consists of Herb Willer, D. Gregory Hall, David Lucatch, Girvan Patterson, Jeffrey D. Puritt and Kevin Shea. Following the meeting, the directors elected Mr. Willer as Chairman of the Board, Mr. Patterson as Chair of the Audit Committee, Mr. Shea as Chair of the Nomination Committee and Mr. Puritt as Chair of the Compensation and Governance Committee.

At the meeting, shareholders of the Company also approved a 2011 stock option plan. Please refer to the Management Proxy and Information Circular of the Company dated October 20, 2011 for a copy of the plan, which is available and filed on SEDAR under Intertainment's profile at

Intertainment also announces that it has suspended, at this time, pursuing a joint venture with Lingo Media Corporation originally announced by the Company in a news release dated March 31, 2011 as it focuses on current opportunities and investments.

About Intertainment -

Connecting people with brands, Intertainment Media Inc. is a Rich Media Applications leader, focused on delivering leading edge technology and marketing solutions enabling clients to power enhanced branding, loyalty initiatives and consumer engagement.

Selected as a Microsoft Global Agency Initiative partner, Intertainment has joined an elite group of interactive agencies worldwide that Microsoft recommends to its Partners and Customers. Intertainment owns a number of key properties including Ortsbo, Ad Taffy, itiBiti and Magnum Fine Commercial Printing Limited. For more information on the Company and its properties, please visit

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

This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The offered securities mentioned in this press release will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") and may not be offered or sold within the United States or to, or for the account or benefit of U.S. persons except in certain transactions exempt from the registration requirements of the U.S. Securities Act.

This new release shall not constitute an offer to sell or the solicitation of an offer to buy any securities in any jurisdiction.

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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