Intertainment Media Inc. ("Intertainment" or the "Company") (TSX
VENTURE:INT)(OTCQX:ITMTF)(FRANKFURT:I4T) is pleased to announce
that it continues to execute on its strategy of investing in new
and emerging enterprises, completing a USD $2 Million investment in
Hollywood, CA based Active ImageNation Inc. ("AIN"), the developer
of Cap That(TM), a patent pending technology platform devoted to
transforming consumers' favorite moments from film, television,
sports, and music home videos into posters, canvas prints, apparel
and virtual social creations. Closed beta trials of the platform
are currently underway and a public release of its beta platform is
scheduled for March 2012 at www.capthat.com.
Cap That's(TM) mission is to become a destination where users
can upload their own videos and transform scenes into tangible
creations; a place where fans can choose how to capture their
favorite sporting heroes in action; a place where music fans and
film lovers can select the perfect moment in the perfect scene and
freeze it in time.
The Cap That(TM) patent-pending system empowers its users to
easily capture individual frames from their own home videos and
from clips licensed by major studios, record labels and sporting
organizations. By leveraging the infinite catalogue of images
trapped in video, Cap That(TM) will bring significant revenue and
unique promotion opportunities to the entertainment and sporting
industries.
AIN has signed agreements with a number of entertainment brands
including Disney Studios to allow consumers to use the Cap That(TM)
technology and is currently negotiating agreements with several
other entertainment, sports, music and lifestyle content producers
to include their video offerings within the Cap That(TM) platform.
Additionally, AIN is working to license its technology directly to
destination sites, apparel and branded program companies allowing
them to use the patent pending technology for their own video
imaging capture and print on demand programs.
The print on demand industry is a dynamic growing business
sector which includes Zazzle.com and Cafepress.com whose users
create over 186 Million unique products per year. In June 2011,
Cafepress filed an S-1 registration statement to raise as much as
US $80 Million in its IPO, divulging that 2010 revenues were US
$128 Million.
On February 23, 2012, Intertainment Media closed the acquisition
of 342,466 Class B preferred shares (the "Purchased Shares") of
Active ImageNation Inc. ("AIN") at a price of USD$5.84 per share.
The purchase price for the Purchased Shares was satisfied (i) in
cash in the amount of USD $1.5 million and (ii) by tender and
cancellation of a promissory note in the total principal amount of
USD$500,000 issued by AIN to Intertainment Media on July 25, 2011.
The Purchased Shares are convertible into the shares of common
stock of AIN at the option of the holder (currently, the conversion
ratio is 1 Purchased Share for 1 share of common stock). AIN also
issued a warrant to Intertainment Media entitling the holder to
purchase 34,247 common shares of AIN at a price of USD$5.84 per
share.
David Lucatch, the CEO of Intertainment Media, has been elected
a member of the board of directors (with the other two directors
representing the founders of AIN). The transaction was previously
announced in a news release dated November 29, 2011.
"We're excited to be part of AIN's patent pending Cap That(TM)
technology that gives users, from consumers to commercial partners,
the ability to expand their social sharing and print on demand
opportunities using dynamic video content," said David Lucatch, CEO
of Ortsbo Inc. and Intertainment Media Inc. "Participation in AIN
is strategically aligned with Intertainment's investment
principles, as it adds value to our other divisions and potentially
stands alone as a tremendous opportunity for global success."
About Active ImageNation Inc. - Cap That(TM)
Cap That's(TM) patent pending technology empowers users to stop
time and capture the most desired moments in film, television,
music, sports, home videos and exclusive VideoShoots(TM) in order
to create one of a kind posters, canvas prints, photo prints,
apparel as well as virtual creations that can be easily shared
across social networks.
CapThat(TM) is an application and website devoted to unlocking
images from video giving rise to a revolutionary consumer
proposition and promotional tool.
About Intertainment Media Inc. www.intertainmentmedia.com
Connecting people with brands, Intertainment Media Inc. is a
Rich Media Applications leader, focused on delivering leading edge
technology and marketing solutions enabling clients to power
enhanced branding, loyalty initiatives and consumer engagement.
Selected as a Microsoft Global Agency Initiative partner,
Intertainment has joined an elite group of interactive agencies
worldwide that Microsoft recommends to its Partners and Customers.
Intertainment owns a number of key properties including Ortsbo, Ad
Taffy, itiBiti and Magnum Fine Commercial Printing Limited.
Intertainment Media owns and operates a number of key properties
including Ad Taffy, itiBiti, Ortsbo and Magnum. For more
information on the Company and its properties, please visit
www.intertainmentmedia.com.
Headquartered in the Toronto, Canada region, with offices in New
York, Los Angeles and San Mateo, CA, Intertainment Media Inc. is
listed on the Toronto Venture Exchange under the symbol "INT" (TSX
VENTURE:INT) and in the US on the OTCQX Exchange under the symbol
"ITMTF". Intertainment is also traded in Europe, on the XETRA
Exchange 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.
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: For Intertainment Media Inc.: David Lucatch CEO
800-395-9943info@intertainmentmedia.com
www.intertainmentmedia.com
Intertainment Media (CE) (USOTC:ITMTF)
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