Intertainment Media Inc. ("Intertainment Media" or "Company") (TSX
VENTURE:INT)(OTCQX:ITMTF)(FRANKFURT:I4T) is pleased to announce that it has
entered into a binding letter of intent with a significant debt holder that
provides for the conversion of approximately CDN$3.425 Million of unsecured debt
into common shares of its subsidiary Ortsbo Inc. priced at an enterprise value
of USD$50 Million for Ortsbo Inc.


In addition to the debt conversion, the Company also intends to complete the
final payment on March 3, 2014 with respect to a settlement agreement that had
an original outstanding amount of CDN$2.0 Million. The settlement required the
Company to pay on average over $100,000 per month and the completion of the
settlement payments will reduce the ongoing monthly expenditures for the Company
on a go forward basis by an equal amount.


This reduction in current liabilities is significant to Intertainment Media as
it continues to make strides in both operational efficiencies and debt reduction
and continues to develop and invest in leading edge digital technologies and
social media applications.


Intertainment Media's Annual General and Special Meeting of Shareholders will be
held on February 28, 2014 at 9:30 am Eastern at the Sheraton Parkway Hotel and
Conference Centre in Richmond Hill, ON.


Learn more at www.intertainmentmedia.com

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 Magnum, Ortsbo, CapThat, theAudience, Lexifone, Shiny Ads and Yappn
Corp (www.yappn.com). 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, 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
Open Market (Regulated Unofficial Market) Frankfurt Exchange under the symbol
"I4T".


Forward Looking Information

This news release contains certain "forward-looking information" within the
meaning of such statements under applicable securities law, including statements
relating to the expected reduction in current liabilities.


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.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Intertainment Media Inc.
David Lucatch
CEO
info@intertainmentmedia.com
www.intertainmentmedia.com