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Intertainment Media Provides Update on Proposed Ortsbo Spin Out and Special Meeting Date

Apr 2 2013 12:00AM

Marketwire

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TORONTO, CANADA -- (Marketwired) -- 04/02/13 -- Intertainment Media Inc. ("Intertainment" or "Company") (TSX VENTURE: INT)(OTCQX: ITMTF)(FRANKFURT: I4T), announces today that it is scheduling a Special Shareholder Meeting for Friday, May 31, 2013 for shareholders to discuss and vote on a proposed US Senior listing spin out of Ortsbo Inc. ("Ortsbo"). Ortsbo is a world leader in real time multi-lingual communications focusing on the Global Customer Care, Corporate Communications and Gamification and select Social Media industries. Ortsbo is a subsidiary of Intertainment Media Inc.

The Special Meeting will take place on Friday, May 31, 2013 at 9:30 am Eastern at The Sheraton Parkway Toronto North at 600 Highway 7 East, Richmond Hill, Ontario L4B 1B2 in the Grand York B Conference Room. Those wishing to attend in person are asked to arrive a half hour in advance. At this time, there will be no call in provisions or Live & Global production for this event.

Over the past approximately 120 days, the Company has worked with counsel and advisors to better understand the opportunities and implications of a creating a stand alone senior US listing. As a Canadian Company, Ortsbo would be subject to foreign listing considerations and as such Intertainment has investigated and it has been recommended that Ortsbo be domiciled as a US Corporation. The Company and management feel that this would be the best long-term solution for Ortsbo shareholder value.

The Company has reviewed a number of offers to move forward with the spin out process and is scheduled to review a final opportunity in the next two (2) weeks. The Company will then make a decision on its go-forward strategy and provide shareholders with a formal circular package which will be discussed and voted on at its Special Meeting on May 31, 2013.

About Ortsbo - www.ortsbo.com

As the world's leading real time global experience platform focused on breaking down the language barrier, Ortsbo provides commercial and non-profit enterprises with an expanding array of commercial programs including Corporate Communications, Global e-Commerce and Customer Care that enables them to reach and engage a global audience.

Ortsbo's real time, multi-lingual subtitling and closed captioning technology has been proven successful with major companies including Disney, Dreamworks, Marvel, Yahoo!, Fox, IndyCar, Variety and others.

About 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 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".



Contacts:
For Intertainment Media Inc.:
David Lucatch
CEO
info@intertainmentmedia.com
www.intertainmentmedia.com

For Ortsbo Inc.:
Patrick Bultema
CEO
info@ortsbo.com
www.ortsbo.com





Source: Marketwire


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