Intertainment Media Inc. ("Intertainment" or the "Company") (TSXVENTURE: INT)(OTCBB: ITMTF) announces that its social media, realtime, translation platform, Ortsbo, has received an offer fromBeverly Hills, CA based Lion Gate Capital Inc. ("Lion Gate"), aprivate investment group, to facilitate the US public listing ofOrtsbo.com. Intertainment has also received interest from severalleading Canadian and US investment banking firms to provideassistance and support for the proposed transaction. Intertainment iscurrently reviewing the offer, which is subject to due diligence,definitive agreement and necessary approvals. The Company willprovide additional details as they become available.
Under the terms of the proposed agreement, Intertainment Media wouldlist Ortsbo Inc. (www.ortsbo.com) as a separate publicly traded firmon a US Exchange, with Intertainment retaining a significant portionof the equity. In the event that a deal is concluded, subject toboard and regulatory approval, Intertainment may consider providingthe public shareholders of its Company (TSX VENTURE: INT) with aportion of the proposed Ortsbo equity through a special dividend.Given the recent market activity for Intertainment, and theaccelerated growth of Ortsbo, the parties have agreed that they willcontinue to work towards a fair and equitable valuation in theinterest of all stakeholders.
The Corum Group has been retained to assist Intertainment with thereview of this transaction as well as the continuation of discussionswith other interested parties until a definitive agreement isreached.
With over 4 Million active monthly users, Ortsbo's real timemulti-session, multi-platform and multi-lingual application connectsto PC and Mac computers, mobile devices as well as all major searchengine chat platforms including Microsoft, Google and Yahoo! alongwith Facebook, iChat, AIM, ICQ, Gadu-Gadu, Ovi, Lotus Sametime,LiveJournal and Tencent QQ and QQ International, China's largest chatplatforms and Twitter.
To become a Facebook Fan of Ortsbo, sign up atwww.facebook.com/ortsbo.
Follow Ortsbo on Twitter
To review Ortsbo's weekly performance metrics and the Company'scorporate blog, please visit www.intertainmentmedia.com/blog.
About Ortsbo: www.ortsbo.com
Ortsbo (www.ortsbo.com) enables real-time conversational translationin over 50 languages and seamlessly integrates with today's mostpopular social media platforms.
Ortsbo Inc. is a division of Intertainment Media Inc., a Rich MediaApplications leader, focused on delivering leading edge technologyand marketing solutions enabling clients to power enhanced branding,loyalty initiatives and consumer engagement. Selected as a MicrosoftGlobal Agency Initiative partner, Intertainment has joined an elitegroup of interactive agencies worldwide that Microsoft recommends toits Partners and Customers.
Intertainment Media owns and operates a number of key propertiesincluding Ad Taffy, itiBiti, Ortsbo and Magnum.
Headquartered in the Toronto, Canada region, with offices in NewYork, Los Angeles and San Mateo, CA, Intertainment Media Inc. islisted on the Toronto Venture Exchange under the symbol "INT" (TSXVENTURE: INT) and in the US under the symbol "ITMTF".
This news release may contain certain forward-looking information.All statements included herein, other than statements of historicalfact, is forward-looking information and such information involvesvarious risks and uncertainties. There can be no assurance that suchinformation will prove to be accurate, and actual results and futureevents could differ materially from those anticipated in suchinformation. A description of assumptions used to develop suchforward looking information and a description of risk factors thatmay cause actual results to differ materially from forward-lookinginformation can be found in the company's disclosure documents on theSEDAR website at www.sedar.com. The company does not undertake toupdate any forward-looking information except in accordance withapplicable securities laws.
This release may contain forward looking statements within themeaning of the "safe harbor" provisions of US laws. These statementsare based on management's current expectations and beliefs and aresubject to a number of risks and uncertainties that could causeactual results to differ materially from those described in theforward looking statements. Intertainment Media Inc. does not assumeany obligation to update any forward looking information contained inthis 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.
Contacts:
For Ortsbo / Intertainment Media Inc.:
David Lucatch, CEO
800-395-9943
info@intertainmentmedia.com
www.ortsbo.com
www.intertainmentmedia.com
World Market Media
Editor's Desk
+1 877 801 8408 Ext. 307
editor@worldmarketmedia.com
www.worldmarketmedia.com
Public Relations / Media Inquiries:
SS / PR
mcampe@sspr.com
www.sspr.com
SOURCE: Intertainment Media Inc.
mailto:info@intertainmentmedia.com
https://www.ortsbo.com
https://www.intertainmentmedia.com
mailto:editor@worldmarketmedia.com
https://www.worldmarketmedia.com
mailto:mcampe@sspr.com
https://www.sspr.com