DGAP-News

Intertainment Media Approves Resolution for Secured Debentures

DGAP-News: Intertainment Media Inc. / Key word(s): Miscellaneous
Intertainment Media Approves Resolution for Secured Debentures

17.08.2015 / 22:45

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Toronto, Ontario & New York, New York--(Newsfile Corp. - August 17, 2015) -
Intertainment Media Inc. (TSXV: INT) (OTC Pink: ITMTF) (FSE: I4T)
('Intertainment' or the 'Company') is pleased to announce that it has
approved a resolution that upon the closing of the previously announced
sale of Ortsbo assets to Yappn Corp. ('Yappn') as announced on July 16,
2015 and May 26, 2015 for two hundred and sixty million (260,000,000) Yappn
common shares, Intertainment will escrow fifty million (50,000,000) common
shares of Yappn in favour of the secured debenture holders of the Company.

The Company has also committed that any cash received from the sale of
Yappn shares (subject to all regulatory and necessary approvals) will be
used to retire any debt still owed to the secured debenture holders. Each
secured debenture holder will be paid pro-rata from any proceeds received
based on their principle secured debt held until the full debt settlement,
including principle and interest has been satisfied.

'Intertainment continues to be committed to its secured debenture holders
and through this escrow of Yappn shares has strengthened that commitment,'
said Mr. Anthony R. Pearlman, President & COO of Intertainment Media Inc.

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
of key properties and has investments in leading edge technologies and
social media platforms, including TranzActive, CapThat, theAudience,
Lexifone and Yappn Corp (www.yappn.com) (OTCQB: YPPN). 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' (TSXV: INT) and in the US under the symbol 'ITMTF'.
Intertainment is also traded in Europe on the Open Market (Regulate
Unofficial Market) of the Frankfurt Exchange under the symbol 'I4T'.

Contact

Mr. Anthony R. Pearlman, COO
[e-mail]

Completion of the Ortsbo Asset Sale is subject to a number of conditions,