News Column

Intertainment Media Completes Sale of Yappn Assets to Yappn Corp.

Mar 28 2013 12:00AM

Marketwire

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TORONTO, CANADA and NEW YORK, NEW YORK -- (Marketwire) -- 03/28/13 -- Intertainment Media Inc. ("Intertainment") (TSX VENTURE: INT)(OTCQX: ITMTF)(FRANKFURT: I4T) and Yappn Corp. (formerly named Plesk Corporation) (OTCBB: PSKC) are pleased to announce the completion of Intertainment's sale of its Yappn assets to New York based Yappn Corp. As previously announced on March 8, 2013, Intertainment has received 70 million common shares of Yappn Corp. as consideration for the transaction. Under its previously announced partnership program, Intertainment will control a minimum of 60% of the received shares of Yappn Corp. The existing shareholders of Yappn Corp. will control approximately 30 Million shares.

Scheduled to launch during Summer 2013, Yappn (www.yappn.com) will be an online social community where people can meet, chat, engage and consume media in multiple languages simultaneously. Powered by Ortsbo's (www.ortsbo.com) real-time multi-language technology, Yappn is set to create an engaged online community for users all over the world by providing access to topical discussion boards in almost 70 languages.

Unlike many social media sites, Yappn is not primarily "friend" focused, but instead will be "topic" or "interest" focused bringing people together to discuss current events, celebrities, technology, sports, entertainment and other popular areas of conversation. One of the key features of Yappn will be its ability to instantly translate comments in almost 70 languages, allowing people from around the world to view a conversation in their native language independently of what others see in their own language. This revolutionary system will enable real-time multiple language conversations to co-exist without the "fracturing" that comes as a result of many people posting in multiple languages to a single chat area.

In addition to the key multiple-language and interest based platform, Yappn will have an extensive "gamification" system allowing users to earn and spend "Yappn Coins" and earn badges and awards for participation in selected events.

Consumers and businesses are encouraged to sign up for the Yappn beta program and can learn more about the platform at www.yappn.com.

Like the Yappn Facebook page and follow Yappn on Twitter: @YappnCorp.

About Yappn Corp.

Set to launch in Summer 2013, Yappn (www.yappn.com) will be a place where people can meet, chat, engage and consume content, individually, in groups and by topic, regardless of the language they speak. By removing the language barrier, the entire world opens up to an entirely new paradigm of communication.

Yappn, with the power of Ortsbo (www.ortsbo.com), also offers a set of very powerful communication tools where users can create opportunities to meet, chat, engage and consume in their own virtual location creating global social engagement for private events and closed networks. Users can also connect to leading social networks and engage friends and followers on Facebook, Yahoo!, Twitter and more.

About Intertainment Media Inc.

Intertainment Media (www.intertainmentmedia.com) 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 Yappn, Ad Taffy, itiBiti (KNCTR), 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" (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 press release contains "forward-looking statements" within the meaning of Section 21E of the Securities Exchange Act of 1934. All statements, other than statements of historical fact, and those preceded by or that include the words "believes," "expects," "given," "targets," "intends," "anticipates," "plans," "projects," "forecasts" or similar expressions, are "forward-looking statements." Although Yappn Corp.'s management believes that such forward-looking statements are reasonable, it cannot guarantee that such expectations are, or will be, correct. These forward-looking statements involve a number of risks and uncertainties, which could cause the Company's future results to differ materially from those anticipated. Additional information regarding the factors that may cause actual results to differ materially from these forward-looking statements is available in the Company's filings with the SEC including the Annual Report on Form 10-K for the year ended May 31, 2012 and each subsequently filed Quarterly Report on Form 10-Q and Current Report on Form 8-K. The Company assumes no obligation to update any of the information contained or referenced in this press release.

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.

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.



Contacts:
Media Contact
David Lucatch
CEO
1-800-395-9943
info@yappn.com or Info@intertainmentmedia.com





Source: Marketwire