TORONTO, ONTARIO--(Marketwire - Sept. 19, 2012) - Snipp Interactive Inc., an international provider of mobile marketing solutions listed on the TSX Venture Exchange (TSX VENTURE:SPN), and Intertainment Media Inc. ("Intertainment") (TSX VENTURE:INT)(OTCQX:ITMTF)(FRANKFURT:I4T), a leading technology incubator and provider of rich media applications, are pleased to announce that they have signed a Memorandum of Understanding ("MOU").
With five different divisions and several technology investments in Canada and the US, Intertainment is focused on delivering leading edge technology and marketing solutions enabling clients to power enhanced branding, loyalty initiatives and consumer engagement. Its world leading real time global communications experience platform, Ortsbo.com, reached over 212 million unique monthly users recorded for the month of June 2012.
Under the terms of the MOU, both companies will promote and represent each other's products and services to their existing and potential customers and users, earning referral fees from introductions that result in signed contracts and revenues. Intertainment's current client base will be introduced to the functionalities and benefits of Snipp's platform. This will include introductions intended to leveraging Ortsbo.com and its 212 million unique monthly users. Snipp will introduce Intertainment's products and services to Fortune 500 clients and partners and will create an additional licensing model for agencies in Mexico and India to enhance the international presence of Ortsbo.com in the world's largest country and one of the world's fastest developing areas for language and translation services.
"Intertainment's relationship with SNIPP is the next step in the Company's strategy to provide revenue-centric platforms to our clients," said David Lucatch, Intertainment's Chief Executive Officer. "With our recent launch of our mobile and online Social Hub and venue platform with KISS and Live Nation Merchandising, SNIPP provides us with the ability to add further value and monetization deliverables to a growing global mobile audience in 66 languages."
"We see this relationship with Intertainment as a critical step to continue to move into global markets that are in need of mobile technology in their native languages," said Atul Sabharwal, Chief Executive Officer of Snipp. "We will leverage Intertainment's great relationships and develop business opportunities that will allow financial benefit in addition to our current revenue model and technological growth to both of us. Intertainment's technology is a great compliment to our mobile marketing suite of solutions. This will help to ensure that we remain a leader in mobile marketing and continue to cover each and every need of our clients and partners around the globe."
About Intertainment Media Inc.
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 Ad Taffy, itiBiti, Ortsbo, Deal Frenzy and Magnum, with investments in leading edge technologies and social media platforms including theaudience.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 unofficial market of the Frankfurt Exchange through the XETRA trading platform under the symbol "I4T".
About Snipp Interactive Inc.
Snipp Interactive Inc. (www.snipp.com) provides print publishers, advertising agencies and corporate/consumer brands, including Fortune 500 companies, with a full suite of mobile marketing services in North America, and generates revenue by designing, constructing, implementing and managing these mobile marketing services for its customers. Snipp Interactive Inc. is headquartered in Washington, D.C. with international operations in Canada, Mexico and India.
Disclaimer for Forward-Looking Information
This press release contains forward-looking statements and information that are based on the beliefs of management and reflect Snipp Interactive Inc.'s current expectations. When used in this press release, the words "estimate", "project", "belief", "anticipate", "intend", "expect", "plan", "predict", "may" or "should" and the negative of these words or such variations thereon or comparable terminology are intended to identify forward-looking statements and information. The forward-looking statements and information in this press release include information relating to the closing of the Qualifying Transaction. Such statements and information reflect the current view of Snipp Interactive Inc. with respect to risks and uncertainties that may cause actual results to differ materially from those contemplated in those forward-looking statements and information.
By their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements.
Forward-looking statements are made based on management's beliefs, estimates and opinions on the date that statements are made and Snipp Interactive Inc. undertakes no obligation to update forward-looking statements if these beliefs, estimates and opinions or other circumstances should change. Investors are cautioned against attributing undue certainty to forward-looking statements.
Snipp Interactive Inc. cautions that the foregoing list of material factors is not exhaustive. When relying on Snipp Interactive Inc.'s forward-looking statements and information to make decisions, investors and others should carefully consider the foregoing factors and other uncertainties and potential events. Snipp Interactive Inc. has also assumed that material factors will not cause any forward-looking statements and information to differ materially from actual results or events. However, the list of these factors is not exhaustive and is subject to change and there can be no assurance that such assumptions will reflect the actual outcome of such items or factors.
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