Intertainment Media Receives Financing Offer & Prepares Prospectus

TORONTO, CANADA--(Marketwire - March 13, 2013) -

NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

Intertainment Media Inc. ("Intertainment" or the "Company") (TSX VENTURE:INT)(OTCQX:ITMTF)(FRANKFURT:I4T) is pleased to announce that the Company has received an executed terms sheet for $10.5 Million CDN equity financing from Crede CG II, Ltd. ("Crede"), an international fund based in Bermuda, with offices in New York and Los Angeles. Crede has completed investments throughout North America, Europe and Australia and has invested in Intertainment previously, completing a $2.5 Million financing in late 2012. The equity financing will be subject to the approval of a short form prospectus and all necessary regulatory approvals.

The financing will consist of Units, comprised of one (1) common share and one (1) common share purchase warrant. The price per Unit will be set in the context of the market immediately prior to the filing of the (final) short form prospectus for each tranche. The common share purchase warrant will be valid for 5 years and will be at a price equal to a 10% premium to the price per Unit for each tranche. Under the terms of the deal, Crede will provide Intertainment with $10.5 Million CDN in tranches of $3.5 Million CDN, subject to Intertainment filing and receiving regulatory approval of a short form prospectus. Additional tranches will be executed in 90 day increments subject to Crede owning less than 9.9% of the common stock and / or the exercise of warrants. Crede and Intertainment may increase the financing to up to $15 Million CDN and allow other accredited individuals or institutional investors to participate in the financing.

Crede will also retain the right of participation in future equity financings under the terms of the agreement.

A fee of 9% will be paid in accordance with regulatory guidelines and approvals.

As previously announced on February 27, 2013, the Company offered a 60 day extension to its Ortsbo debenture holders which were due on February 28, 2013. The Company has received confirmation from all of the debenture holders extending the terms of the debentures accordingly.

Intertainment Media Inc. - www.intertainmentmedia.com

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, The Sweet Card 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 Open Market (Regulated Unofficial Market) of the Frankfurt Exchange through the XETRA trading platform under the symbol "I4T".

This news release may contain certain forward-looking information. All statements included herein, other than statements of historical fact, is forward-looking information and such information involves various risks and uncertainties. There can be no assurance that such information will prove to be accurate, and actual results and future events could differ materially from those anticipated in such information. A description of assumptions used to develop such forward-looking information and a description of risk factors that may cause actual results to differ materially from forward-looking information can be found in the company's disclosure documents on the SEDAR website at www.sedar.com . The company does not undertake to update any forward-looking information except in accordance with applicable securities laws.

This release may contain forward-looking statements within the meaning of the "safe harbor" provisions of US laws. These statements are based on management's current expectations and beliefs and are subject to a number of risks and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. Intertainment Media Inc. does not assume any obligation to update any forward-looking information contained in this news release.

This news release is not an offer of securities for sale in the United States. Securities may not be offered or sold in the United States or to or for the account or benefit of U.S. persons (as such terms are defined in Regulation S under the United States Securities Act of 1933, as amended (the "U.S. Securities Act")), absent registration or an exemption from registration. The securities offered have not been and will not be registered under the U.S. Securities Act or any state securities laws and, therefore, may not be offered for sale in the United States, except in transactions exempt from registration under the U.S. Securities Act and applicable state securities laws.