June 15/11Special Warrant financing closed, ka-ching, big bank account. This is IMO what the 4 million dollar lawsuit was over, because when this closed, the SP was below a dollar already and quickly went to 64 cents June 15. INT eventually settled for 2 million, but missed payments costing us more. IMO, somebody wanted a do-over and INT didn't want a lawsuit hanging over our heads, so they settled for half the suit amount.
INTERTAINMENT PROVIDES FINANCING UPDATE
NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN
THE UNITED STATES
TORONTO, CANADA – June 15, 2011 – Intertainment Media Inc. ("Intertainment" or the
"Company") (TSXV: INT / US: ITMTF / FRA: I4T) is pleased to announce that it has received final
acceptance from the TSX Venture Exchange for its previously announced $23,712,326.60 non-brokered
private placement of special warrants. Intertainment has received a commitment from a US based Fund
for $20 Million and may complete a separate financing should we choose to do so. Please refer to the
Company’s press release dated May 13, 2011 for further information on the private placement.
The Company is pleased to report that its current cash and cash equivalents position is approximately
$25,900,000 and is currently executing its business plan in accordance with its previous announcements.
Intertainment also announces that its agreement with GEM Global Yield Fund Limited for a $5.0 million
CDN equity line of credit has been terminated. Intertainment did not issue any securities in connection
with this agreement. Please refer to the Company’s press release dated July 15, 2010 for the further
information.