World Kinect Corp V.INT

NEWS read all about it !!! IN USA

[BkBroiler]

Intertainment Media: Lion Gate Capital Offers to Facilitate U.S. Public Listing of Ortsbo
Posted on: Thu, 10 Feb 2011 23:24:10 EST
Symbols: ITMTF


Feb 11, 2011 (Close-Up Media via COMTEX) --

Intertainment Media announced that its social media, real time, translation platform, Ortsbo, has received an offer from Lion Gate Capital, a privateinvestment group, to facilitate the U.S. public listing of Ortsbo.com.
In a release dated Feb. 8, the Company said Intertainment has also received interest from Canadian and U.S. investment banking firms to provide assistance and support for the proposed transaction. Intertainment is currently reviewing the offer, which is subject to due diligence, definitive agreement and necessary approvals. The Company will provide additional details as they become available.
Under the terms of the proposed agreement, Intertainment Media would list Ortsbo as a separate publicly traded firm on a U.S. Exchange, with Intertainment retaining a significant portion of the equity. In the event that a deal is concluded, subject to board and regulatory approval, Intertainment may consider providing the public shareholders of its Company with a portion of the proposed Ortsbo equity through a special dividend. Given the recent market activity for Intertainment, and the accelerated growth of Ortsbo, the parties have agreed that they will continue to work towards a fair and equitable valuation in the interest of all stakeholders.
The Corum Group has been retained to assist Intertainment with the review of this transaction as well as the continuation of discussions with other interested parties until a definitive agreement is reached.
Ortsbo enables real-time conversational translation in over 50 languages and seamlessly integrates with social media platforms.