TORONTO, CANADA and NEW YORK, NEW YORK and LOS ANGELES, CALIFORNIA--(Marketwire - June 29, 2012) - Intertainment Media Inc. (TSX VENTURE:INT)(OTCQX:ITMTF)(FRANKFURT:I4T) ("Intertainment" or the "Company"), announced today that it has enlisted the services of Maxim Group LLC ("Maxim Group"), a leading US investment banking, securities and investment management firm, to provide strategic corporate finance and investment banking services. Maxim Group will focus on assisting Intertainment, Ortsbo Inc. ("Ortsbo") and other subsidiaries of the Company in its strategies for maximizing shareholder value through its full scope of investment banking services.
Maxim Group supports Intertainment's technology incubation program and business strategy which includes a proposed spin-out of its real-time global communications experience platform, Ortsbo. Celebrating its 2nd year anniversary on July 22, 2012. Ortsbo already has over 160 Million Unique Monthly Users globally and has recently announced several commercial applications for its real-time global language services for social media and financial services. Intertainment initially proposed spinning-out Ortsbo as a senior publicly listed company in Canada with a significant portion of the proposed listing distributing to shareholders. Given the primary interest from US investors, the Company will be working with Maxim Group to move these efforts forward in the US.
"We are looking forward to utilizing the expertise of Maxim Group to assist Intertainment, Ortsbo and our other divisions with our growth strategies and capital requirements," said David Lucatch, CEO of Intertainment. "Maxim Group is a major investment banking firm concentrated on advising small-cap and midsized organizations. The Company trusts that Maxim Group will play a strong role as an advisor in executing organizational growth strategies to further enhance shareholder value."
Maxim Group President Chris Fiore commented, "We are delighted to partner with Intertainment as it pursues its plan to accelerate and execute its business. Our goal will be to provide assistance to Intertainment in the financial and value creation components of its corporate strategy through our full-service investment banking capabilities. Furthermore, we will also be supporting the Company in attaining its strategic initiatives and long-term objectives."
About Maxim Group:
Maxim Group LLC is a full-service investment banking firm headquartered in New York. Maxim Group provides a full array of financial services including investment banking; private wealth management; and global institutional equity, fixed-income and derivatives sales and trading as well as equity research. The investment banking group focuses on middle market and emerging growth companies within the shipping, energy, health care, technology, retail, and business and financial services sectors. The institutional coverage of Maxim Group spans North and South America, Europe and Asia. Maxim Group LLC is a registered as a broker-dealer with the U.S. Securities and Exchange Commission and is a member of the following: Financial Industry Regulatory Authority (FINRA); Municipal Securities Rulemaking Board (MSRB); Securities Insurance Protection Corporation (SIPC); NASDAQ Stock Market and the NYSE Arca, Inc. To learn more about Maxim Group, visit www.maximgrp.com.
About Ortsbo Inc.
Now with over 162 million unique users in over 170 countries and territories, Ortsbo (www.ortsbo.com) enables real-time conversational translation for more than 50 languages. Ortsbo's flagship product for social media supports global communications with instant translation capability and real-time, multi-lingual social media chat. Ortsbo's technologies support major social platforms including MSN, Google, Facebook, Twitter and Yahoo!, as well as all major desktop and mobile operating systems, browsers and devices. Ortsbo, based in Toronto and with offices in Los Angeles and New York, is a subsidiary of Intertainment Media (www.intertainmentmedia.com).
About Intertainment Media Inc.
Intertainment is one of North America'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, shinyads.com and Tunezy.com. For more information on Intertainment and its properties, please visit www.intertainmentmedia.com.
For further information, please refer to Intertainment Media's announcements and statutory reports filed at www.sedar.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 unofficial market of the Frankfurt Exchange through the XETRA trading platform 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.