Toronto, Ontario and New York, New York--(Newsfile Corp. - August 4, 2016) - Intertainment Media Inc. (TSXV: INT)
(OTC Pink: ITMTF) (FSE: I4T) ("Intertainment" or the "Company") announces that it plans to consolidate the
Company's common shares ("Common Shares") on the basis of one (1) new Common Share for up to every ten (10) Common Shares
issued and outstanding immediately prior to the consolidation (the "Proposed Consolidation"). The Proposed Consolidation is
subject to TSX Venture Exchange Inc. approval. The Company will also seek approval of its shareholders for the Proposed
Consolidation at its upcoming annual general and special meeting of shareholders scheduled for August 29, 2016.
The purpose of the Proposed Consolidation is to provide a more attractive capital structure in order to seek additional
financing for the Company. The Company currently has 37,988,877 Common Shares issued and outstanding. Upon completion of the
Proposed Consolidation, the Company anticipates approximately 3,798,887 Common Shares will remain outstanding.
The exercise price and the number of common shares issuable under any outstanding options, warrants or convertible securities of
the Company will be proportionately adjusted to reflect the Proposed Consolidation in accordance with the respective terms
thereof.
The Company will not be changing its name in connection with the Proposed Consolidation.
Contact
For further information on the Company please contact:
Wayne Parsons
info@intertainmentmedia.com
Forward Looking Information
This news release contains certain "forward-looking information" within the meaning of such statements under applicable
securities law. Forward-looking information is frequently characterized by words such as "plan", "expect", "project", "intend",
"believe", "anticipate", "estimate", "may", "will", "potential", "proposed" and other similar words, or statements that certain
events or conditions "may" or "will" occur. These statements are only predictions. Forward-looking information is based on the
opinions and estimates of management at the date the statements are made, and are subject to a variety of risks and uncertainties
and other factors that could cause actual events or results to differ materially from those projected in the forward-looking
statements. Actual timelines associated may vary from those anticipated in this news release and such variations may be material.
Actual results could differ materially because of factors discussed in the management discussion and analysis section of our
interim and most recent annual financial statements or other reports and filings with the TSX Venture Exchange Inc.
(TSXV") and applicable Canadian securities regulators. The Company undertakes no obligation to update forward-looking
statements if circumstances or management's estimates or opinions should change, unless required by law. The reader is cautioned
not to place undue reliance on this forward-looking information.
The TSXV has in no way passed upon the merits of the Proposed Consolidation and has neither approved nor
disapproved the contents of this press release.
Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSX) accepts
responsibility for the adequacy or accuracy of this 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.
NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED
STATES
