Intertainment Media Inc.
TSX VENTURE : INT

Intertainment Media Inc.

July 08, 2008 13:36 ET

Intertainment Media Inc. Board of Directors Appointment

Former Microsoft Corporate Vice President joins Board

TORONTO, ONTARIO--(Marketwire - July 8, 2008) - Intertainment Media Inc. ("Intertainment" or the "Company") (TSX VENTURE:INT) is pleased to announce that former Corporate Vice President of Microsoft, technology and new media industry veteran, Mr. Lindsay Sparks has joined the Board of Directors of the Company. Mr. Sparks will also be active with Itibiti Systems and the Company, providing assistance with marketplace strategies, corporate development and growth opportunities.

"Intertainment's Itibiti program has significant global opportunity which will allow major brands to build increased equity with their customers. I look forward to bringing my industry knowledge and corporate expertise to Itibiti, Intertainment and its Board of Directors, " said Mr. Lindsay Sparks.

Mr. Sparks joined Microsoft in 1992, leading the Enterprise Customer Unit in Canada and transferred to Microsoft headquarters in Redmond, Washington in 1994 to lead a number of business units. Mr. Sparks' last position with Microsoft was as corporate vice president of Microsoft Education Strategy, Products and Solutions. Lindsay's previous roles at Microsoft also include corporate vice president of Managed Solutions; corporate vice president of worldwide sales of products and services to small and medium-sized enterprises; and corporate vice president of MSN e-services, where he supervised the development and deployment of services designed to provide a rich, network-wide customer experience.

Currently, Mr. Sparks is an industry leading technology and business consultant and serves as a member of the Board of Directors of a number of international emerging technology, entertainment and new media enterprises.

"We are honoured to have Mr. Sparks as a member of our Board of Directors. This is an amazing opportunity for Intertainment and Itibiti Systems. Lindsay's knowledge and experience in the technology and new media industry are invaluable and will assist us as we move forward with our core business offerings," said Mr. David Lucatch, CEO of Intertainment Media Inc.

The Company, subject to TSX Venture Exchange approval, will look to complete a brokered private placement of up to $3 Million Cdn. Accredited investors will have the ability to purchase units ("Units") at a price of $0.10 per Unit for a maximum of 30,000,000 Units (the "Offering"). Each Unit will consist of one common share ("Common Share") and one Common Share purchase warrant ("Warrant"). Each Warrant entitles the holder to acquire one Common Share at an exercise price of $0.18 for a period of 2 years from the date of issuance. In addition, the Company will have the right to have the Warrants exercised if the trading price of the Common Shares equals or exceeds $0.30 per Common Share for a period of 30 consecutive trading days upon providing the Warrant holders with 30 days notice.

The Offering will be led by Toronto based D&D Securities Company (the "Agent"). The Company will pay the Agent 8% commission in cash and provide an option to purchase up to 8% of the Units sold at $0.10 per Unit for a period of 18 months from the date of completion of the Offering.

The Company has granted the Agent an Over-Allotment Option exercisable within 30 days following the closing of the Offering to purchase up to an additional 6,000,000 Units at a price of $0.10 (Cdn) per Unit.

The capital raised will be used for strategic growth opportunities and for general corporate purposes. The Company may choose to issue fewer units than the maximum proposed pursuant to the Offering.

For industry information, comments and more, please visit the Intertainment Media blog at www.intertainmentmedia.com/blog.

About Intertainment's Itibiti Systems

Intertainment's Itibiti Systems platform is a proprietary, social networking, multimedia and communications environment that can be installed directly on a user's computer desktop. The Itibiti platforms provides clients with custom branding, loyalty and revenue opportunities allowing them to extend their "Brand Experience" to the user's desktop. Key features of the Itibiti include IP Telephony, video/multimedia on demand, instant messaging, SMS, integrated in a feature rich interface that includes a mini web browser, desktop telephone and chat system which can be utilized to create active links to the affinity partners web pages, providing information and outside services and a complete advertising and marketing platform for revenue generation. For a full demonstration of the Itibiti platform, please visit www.intertainmentmedia.com/itibiti/presentation.html.

About Intertainment

Intertainment Media Inc. (www.intertainmentmedia.com) is a conventional and new media company with an experienced and innovative team of professionals focused on delivering leading edge technology and marketing solutions.

Intertainment develops and invests in strategic programs that enable clients to increase their branding and loyalty relationships with their consumers while focusing on increased revenue generation.

Intertainment owns, operates and invests in high value content, traffic management, advertising and social networking solutions including, Eye Rock Digital (www.eyerockdigital.com) No Good TV (www.ngtv.com), Trooker Inc. (www.trooker.com), and Itibiti Systems (www.intertainmentmedia.com/itibiti/presentation.html).

Intertainment Media Inc. is headquartered in Richmond Hill, Ontario, Canada. The company is listed on the Toronto Venture Exchange (symbol: INT).

Contact Information