DGAP-News
Intertainment Announces Amendments to Outstanding Convertible Debentures and Warrants
DGAP-News: Intertainment Media Inc. / Key word(s): Miscellaneous
Intertainment Announces Amendments to Outstanding Convertible
Debentures and Warrants
02.06.2015 / 23:00
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Toronto, Ontario--(Newsfile Corp. - June 2, 2015) - Intertainment Media
Inc. (TSXV: INT) (OTCPINK: ITMTF) (FSE: I4T) ('Intertainment' or the
'Company') is pleased to announce that, further to a press release of the
Corporation dated April 8, 2015, it has amended the terms of additional
outstanding secured convertible debentures of the Company (the
'Debentures') in the aggregate principle amount of $256,000, such that the
conversion price of the Debentures has been reduced from $0.12 to $0.05 per
share and the maturity date has been extended for a period of 12 months,
subject to the holders' right to demand repayment by the Company of the
entire principle amount and interest due thereon not later than 120 days
from the original maturity date of the Debentures.
In addition, the Company has also amended the terms of 2,049,918 warrants
of the Company ('Warrants') issued in connection with the Debentures, such
that the exercise price of the Warrants has been reduced from $0.125 to
$0.05 per share and the expiry date has been extended for 12 months;
however, if the closing price of the common shares of the Company exceeds
$0.0625 on the TSX Venture Exchange ('Exchange') for 10 consecutive trading
days at any time, the exercise period will be reduced to 30 days commencing
on the seventh calendar day following the 10th such trading day.
In all other respects, the terms of the Debentures and Warrants will remain
unchanged and in full force and effect. The Debentures and Warrants were
issued pursuant to a private placement of units of the Company. Please
refer to the Company's press releases dated January 24, 2013, March 22,
2013, April 9, 2013 and May 2, 2013 for more information with respect to
this private placement.
The amendments to the terms of the Debentures and Warrants are subject to
Exchange acceptance.
About Intertainment - 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
Toronto, Ontario--(Newsfile Corp. - June 2, 2015) - Intertainment Media
Inc. (TSXV: INT) (OTCPINK: ITMTF) (FSE: I4T) ('Intertainment' or the
'Company') is pleased to announce that, further to a press release of the
Corporation dated April 8, 2015, it has amended the terms of additional
outstanding secured convertible debentures of the Company (the
'Debentures') in the aggregate principle amount of $256,000, such that the
conversion price of the Debentures has been reduced from $0.12 to $0.05 per
share and the maturity date has been extended for a period of 12 months,
subject to the holders' right to demand repayment by the Company of the
entire principle amount and interest due thereon not later than 120 days
from the original maturity date of the Debentures.
In addition, the Company has also amended the terms of 2,049,918 warrants
of the Company ('Warrants') issued in connection with the Debentures, such
that the exercise price of the Warrants has been reduced from $0.125 to
$0.05 per share and the expiry date has been extended for 12 months;
however, if the closing price of the common shares of the Company exceeds
$0.0625 on the TSX Venture Exchange ('Exchange') for 10 consecutive trading
days at any time, the exercise period will be reduced to 30 days commencing
on the seventh calendar day following the 10th such trading day.
In all other respects, the terms of the Debentures and Warrants will remain
unchanged and in full force and effect. The Debentures and Warrants were
issued pursuant to a private placement of units of the Company. Please
refer to the Company's press releases dated January 24, 2013, March 22,
2013, April 9, 2013 and May 2, 2013 for more information with respect to
this private placement.
The amendments to the terms of the Debentures and Warrants are subject to
Exchange acceptance.
About Intertainment - 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
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