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

Intertainment Media Inc.

May 21, 2013 16:20 ET

Intertainment Media Inc. Announces Amendment to Terms of Warrants

TORONTO, CANADA--(Marketwired - May 21, 2013) - Intertainment Media Inc. ("Intertainment" or the "Company") (TSX VENTURE:INT)(OTCQX:ITMTF)(FRANKFURT:I4T) is pleased to announce that the Company has applied to the TSX Venture Exchange ("TSXV") for an amendment of the exercise price for the 6,875,986 warrants issued on October 26, 2012 and the 4,520,000 warrants issued on November 30, 2012 (collectively, the "Warrants") having an exercise price of $0.29 per common share to October 26, 2014 and November 30, 2014, respectively. The proposed amended price will be $0.10 per common share. The Warrants are also being amended to include a provision that if the closing price of the common shares exceeds $0.125 on the TSXV for 10 consecutive days of trading at any time, after the amendment date, the exercise period will be reduced to 30 days commencing on the seventh calendar day following the tenth day of such trading. The amendments of the Warrants will be effective following TSXV acceptance and the satisfaction of the requirements of the TSXV. All other terms of the Warrants remain the same. Warrantholders are advised that replacement Warrant certificates will not be issued and that the original Warrant certificates must be presented in order to effect the exercise or transfer of such Warrants.

Intertainment Media Inc. - 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 Ortsbo, Deal Frenzy, The Sweet Card and Magnum, with investments in leading edge technologies and social media platforms including theaudience.com, capthat.com and 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) of the Frankfurt Exchange through the XETRA trading platform under the symbol "I4T".

This news release may contain certain forward-looking information. All statements included herein, other than statements of historical fact, is forward-looking information and such information involves various risks and uncertainties. There can be no assurance that such information will prove to be accurate, and actual results and future events could differ materially from those anticipated in such information. A description of assumptions used to develop such forward looking information and a description of risk factors that may cause actual results to differ materially from forward-looking information can be found in the company's disclosure documents on the SEDAR website at www.sedar.com. The company does not undertake to update any forward-looking information except in accordance with applicable securities laws.

This release may contain forward looking statements within the meaning of the "safe harbor" provisions of US laws. These statements are based on management's current expectations and beliefs and are subject to a number of risks and uncertainties that could cause actual results to differ materially from those described in the forward looking statements. Intertainment Media Inc. does not assume any obligation to update any forward looking information contained in this news release.

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.

Contact Information