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

Intertainment Media Inc.

July 03, 2012 13:17 ET

Intertainment Media Inc. Receives Initial Term Sheet From US Financial Advisor

TORONTO, CANADA and NEW YORK, NEW YORK and LOS ANGELES, CALIFORNIA--(Marketwire - July 3, 2012) -

THIS NEWS RELEASE IS NOT INTENDED FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR DISSEMINATION IN THE UNITED STATES.

Intertainment Media Inc. (TSX VENTURE:INT)(OTCQX:ITMTF)(FRANKFURT:I4T) ("Intertainment" or the "Company"), as previously announced on June 29, 2012, the Company has enlisted the services of Maxim Group LLC ("Maxim Group"), a leading US investment banking, securities and investment management firm, to provide strategic corporate finance and investment banking services. Maxim Group will focus on assisting Intertainment, Ortsbo Inc. ("Ortsbo") and other subsidiaries of the Company in its strategies for maximizing shareholder value through its full scope of investment banking services.

As part of the Company's larger engagement with Maxim Group, Intertainment has executed a non-binding term sheet with a Maxim Group client, by way of a private placement, for an initial $10 Million CDN convertible note, allowing the Company to draw funds for working capital purposes. The note will be drawn by the Company in $2 Million CDN increments with the conversion price to be set for each tranche at the time of closing. The first tranche for $2 Million CDN is expected to close in and around mid July 2012. The Company is also reviewing additional offers from interested parties and all transactions are subject to board and regulatory approval.

"Maxim Group has already begun to present opportunities to assist Intertainment, Ortsbo and our other divisions with our growth strategies and capital requirements" said David Lucatch, CEO of Intertainment. "As a major investment banking firm concentrated on advising small-cap and midsized organizations, Maxim Group will play a strong role as an advisor to the Company providing expertise in executing organizational growth strategies to further enhance shareholder value."

This news release does not constitute an offer of securities for sale in the United States. Securities may not be offered or sold in the United States absent registration or an exemption from registration. Any public offering of securities to be made in the United States will be made by means of a prospectus containing detailed information about the company and management, as well as financial statements.

About Maxim Group:

Maxim Group LLC is a full-service investment banking firm headquartered in New York. Maxim Group provides a full array of financial services including investment banking; private wealth management; and global institutional equity, fixed-income and derivatives sales and trading as well as equity research. The investment banking group focuses on middle market and emerging growth companies within the shipping, energy, health care, technology, retail, and business and financial services sectors. The institutional coverage of Maxim Group spans North and South America, Europe and Asia. Maxim Group LLC is a registered as a broker-dealer with the U.S. Securities and Exchange Commission and is a member of the following: Financial Industry Regulatory Authority (FINRA); Municipal Securities Rulemaking Board (MSRB); Securities Insurance Protection Corporation (SIPC); NASDAQ Stock Market and the NYSE Arca, Inc. To learn more about Maxim Group, visit www.maximgrp.com.

About Ortsbo Inc.

Now with over 162 million unique users in over 170 countries and territories, Ortsbo (www.ortsbo.com) enables real-time conversational translation for more than 50 languages. Ortsbo's flagship product for social media supports global communications with instant translation capability and real-time, multi-lingual social media chat. Ortsbo's technologies support major social platforms including MSN, Google, Facebook, Twitter and Yahoo!, as well as all major desktop and mobile operating systems, browsers and devices. Ortsbo, based in Toronto and with offices in Los Angeles and New York, is a subsidiary of Intertainment Media (www.intertainmentmedia.com).

About Intertainment Media Inc.

Intertainment is one of North America'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, Ortsbo, Deal Frenzy and Magnum, with investments in leading edge technologies and social media platforms including theaudience.com, shinyads.com and Tunezy.com. For more information on Intertainment and its properties, please visit www.intertainmentmedia.com.

For further information, please refer to Intertainment Media's announcements and statutory reports filed at www.sedar.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".

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.

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