Intertainment Media Unable to File 2016 Financial Statements

TORONTO, ON AND NEW YORK, NY / ACCESSWIRE / October 27, 2016 / Intertainment Media Inc. (TSXV: INT) (OTC Pink: ITMTF) (FSE: I4T) (“Intertainment” or the “Company”) announces that it will be unable to file its audited annual financial statements for the financial year ending June 30, 2016, related management’s discussions and analysis and CEO and CFO certificates (collectively the “Financial Statements”) by the deadline of October 28, 2016, as prescribed by National Instrument 51-202 – Continuous Disclosure Obligations.

The Company is in a challenging financial position and does not have the financial resources available to pay outstanding auditor fees or for an audit of its Financial Statements. The Company has therefore chosen to forego filing its Financial Statements as it pursues strategic alternatives for the Company’s future.

The Company is unable, at this time, to predict when, or if, it will be able to file the Financial Statements. The Company is investigating all strategic alternatives and will file updated press releases as and when it has information to report.

It is anticipated that the applicable regulatory authorities will issue a cease trade order against the Company for its failure to file the required Financial Statements by the prescribed deadline.

Contact

For further information on the Company please contact:

info@intertainmentmedia.com

Cautionary Note

The Company is currently in a difficult financial position and shares of the Company may be cease traded. Shareholders are advised that they may not be able to trade their shares in the Company if and when a cease trade order is implemented against the Company.

This news release contains certain “forward-looking information” within the meaning of such statements under applicable securities law.

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.

SOURCE: Intertainment Media Inc.

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