Intema Solutions Inc.
TSX VENTURE : ITM

Intema Solutions Inc.

August 11, 2009 15:14 ET

New Bank Facility of $1,2M for Intema Solutions Inc.(ITM.V)

MONTREAL, QUEBEC--(Marketwire - Aug. 11, 2009) - Intema (TSX VENTURE:ITM) is proud to announce the conclusion of a new banking facility of $1,2M with the Bank of Montreal and Investissement Quebec. The three part facility includes the renewal of a $300,000 bank margin, a long term loan of $650,000 with no capital remittance for six months and a short term bank loan of $250,000.

This new financing will be used to refund in full the short term note payable that amounted to $656,000 as of March 31. The balance will be used to reduce the level of payables and improve the current ratio.

This new Bank facility is a clear demonstration the trust Intema's financial partners have in the company.

Negotiation with the debtor of the balance on the sale of assets

The company announces that it has begun negotiating with C2 Innovation with regards to the payment of the balance on the sale to settle on an amount to be paid in the short term. This settlement could bring around $900,000 of liquidities into the company.

Nomination of Pierre Ravary c.a. as the new Chief Financial Officer

The company is proud to announce the nomination of Pierre Ravary as the new Chief Financial Officer of the company. Mr. Ravary held the same position at Toon Boom Animation Inc where he had been for eleven years. He was part of the management team that brought Toon Boom to be a worldwide leader in the 2D Animation software market. Through the years, Toon Boom has won prestigious awards such as Emmy Award, La Presse Personality of the week and Octas.

"The renewal of the bank facility was the first step of the long term action plan of the company. We will continuously work on improving the liquidity of the company so that Intema can play an important role in the consolidation in Email campaign, Search Engine Marketing and web site positioning on the Canadian market", stated Mr. Ravary.

Intema Solutions inc.

Intema Solutions Inc.'s mission is to integrate technologies to marketing. Its services include relationship marketing, online visibility, website persuasion, virtual community marketing and online collaboration. Since 1994, INTEMA has dedicated its efforts in delivering key solutions to the Marketing industry. Amongst its clients are companies of all sizes in North America.

For more information, please visit our website at www.intema.ca

Caution concerning forward-looking statements

Except for historical information provided herein, this press release may contain information and statements of a forward-looking nature concerning the future performance of Intema Solutions Inc. These statements are based on suppositions and uncertainties as well as on management's best possible evaluation of future events. The business of the Company and these forward-looking statements are subject to a number of risks and uncertainties that could cause actual results to differ from expected results. A description of risk factors is discussed in the Company's Annual MD&A and financial information filed with the securities regulatory authorities in Canada. The Company's business, financial condition or operating results could be materially adversely affected if any of these risks and uncertainties were to materialize. Given these risks and uncertainties, investors should not place undue reliance on forward-looking statements as a prediction of actual results.

Neither 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

  • Intema Solutions inc.
    Pierre Ravary, C.A.
    Chief Financial Officer
    514-861-1881 ex, 3151
    Toll free: 866-632-7217
    pravary@intema.ca