TORONTO, CANADA and NEW YORK, NEW YORK--(Marketwired - Oct 24,
2013) - Intertainment Media Inc. ("Intertainment" or the
"Company") (TSX VENTURE:INT)(OTCQX:ITMTF)(FRANKFURT:I4T)
is pleased to announce that SFX Entertainment, Inc.
(NASDAQ:SFXE), the world's largest producer of live events
and entertainment content focused exclusively on electronic music
culture (EMC), announced today that it has signed an agreement to
purchase Tunezy, a social media-based commerce platform that
connects content creators to their fans. Intertainment has an
overall stake of approximately 20% in Tunezy. The details of the
agreement have not yet been disclosed by SFX.
Tunezy, is an award-winning commerce platform for entertainers
focused on connecting music artists with their fans. Tunezy has
worked with thousands of content creators with a combined following
of over 10 million fans, including musicians, vloggers and online
personalities.
"We are very proud to have been supported at an early stage by
the team at Intertainment Media. Their leadership and guidance gave
us the base to expand our program beyond the Canadian music
marketplace and build an international audience, ultimately leading
to our agreement with SFX," said Derrick Fung, CEO of
Tunezy.
"The purchase agreement with SFX and Tunezy represents an
opportunity to monetize our initial investment with a leader in the
entertainment content space," said David Lucatch, CEO
Intertainment Media Inc.
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 Ortsbo,
Deal Frenzy, BlackBox Loyalty and Magnum, with investments in
leading edge technologies and social media platforms including
theaudience.com, CapThat.com, Poynt, Ad Taffy, itiBiti and Yappn.
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 and Los Angeles, 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".
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.