Intertainment announces $3,000,000 private placement

TORONTO, April 6 /CNW/ - Intertainment Media Inc. ("Intertainment" or the "Company") (TSXV:INT) is pleased to announce that it has entered into an agreement with M Partners Inc. (the "Agent") to complete a brokered private placement financing, on a "commercially reasonable efforts" basis, of up to 18,750,000 units of Intertainment ("Units") at a price of $0.16 per Unit for gross proceeds of up to $3,000,000. Each Unit will be comprised of one common share of Intertainment ("Common Share") and one common share purchase warrant ("Warrant"). Each Warrant will entitle the holder to acquire one Common Share for a period of 24 months following the closing of the private placement at an exercise price of $0.20 per Common Share. Intertainment has granted the Agent an over-allotment option to sell up to that number of additional Units equal to 15% of the aggregate number of Units sold pursuant to the private placement. All securities issued in connection with this private placement will be subject to a four-month hold period.

It is anticipated that the net proceeds of the private placement will be used to fund the Company's growth, the repayment of outstanding debentures issued on various dates from November 2006 to December 2007 and for general working capital.

The Agent will receive commission equal to 7% of the gross proceeds raised in the private placement payable in cash. The Agent will also be issued Agent's options to purchase that number of Units equal to 7% of the Units sold, exercisable for 24 months following the closing of the private placement.

Completion of the private placement is subject to certain conditions including, but not limited to, the receipt of all necessary regulatory approvals including TSX Venture Exchange acceptance.

About Intertainment - 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 Ad Taffy (www.adtaffy.com), itiBiti (www.itibiti.com) and Magnum Fine Commercial Printing Limited (www.magnumprinting.com).

Headquartered in Richmond Hill, ON, 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".

This news release may contain forward-looking statements. These statements are based on current expectations and assumptions that are subject to risks and uncertainties. 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 regulations. We do not undertake any duty to update any forward-looking statements.

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.

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SOURCE INTERTAINMENT MEDIA INC.

For further information: For further information: Corporate Inquiries: David Lucatch, CEO, (905) 763-3510; Investor Communications: Buchalter Consulting, 1-866-631-6537, Stan.Buchalter@BuchalterConsulting.ca; Online Investor Relations Hub: AGORACOM, INT@Agoracom.com, www.agoracom.com/IR/intertainment

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INTERTAINMENT MEDIA INC.

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