TORONTO, CANADA--(Marketwired - May 9, 2013) - Intertainment Media Inc. ("Intertainment" or the "Company") (TSX VENTURE:INT)(OTCQX:ITMTF)(FRANKFURT:I4T) is pleased to announce that it has extended the expiry date of an aggregate of 9,880,136 common share purchase warrants originally issued on September 14, 2011 (the "Warrants"). The expiry date of the Warrants has been extended from May 13, 2013 to June 17, 2013. This amendment to the Warrants is subject to the approval of the TSX Venture Exchange.
Also, further to the press release of the Company dated March 7, 2013, the Company has amended the exercise price of the Warrants from $2.00 to $0.13 effective May 9, 2013. The Warrants were also amended to include a provision that if the closing price of the common shares exceeds $0.16 on the TSX Venture Exchange for 10 consecutive days of trading at any time, after the amendment date, the exercise period will be reduced to 30 days commencing on the seventh calendar day following the tenth such trading. These amendments to the terms of the Warrants have been accepted by the TSX Venture Exchange.
All other terms of the Warrants remain the same. Warrantholders are advised that replacement Warrant certificates will not be issued and that the original Warrant certificates must be presented to the Company in order to effect the exercise or transfer of such Warrants. Warrantholders that have not provided the Company their written consent to the exercise price and accelerated expiry date amendments should contact the Company prior to exercise of their Warrants.
About Intertainment - 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 Ortsbo, Deal Frenzy, The Sweet Card and Magnum, with investments in leading edge technologies and social media platforms including theaudience.com, capthat.com and Yappn.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" (TSXV: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".
Forward Looking Information
This news release contains certain "forward-looking information" within the meaning of such statements under applicable securities law, including statements relating to the expected use of proceeds of the Offering.
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 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.
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.
