TORONTO, CANADA--(Marketwire - May 23, 2012) - Intertainment Media Inc. (TSX
VENTURE:INT)(OTCQX:ITMTF)(FRANKFURT:I4T) ("Intertainment" or the "Company") is
pleased to provide an update on the spin out of Ortsbo Inc. ("Ortsbo")
previously announced on February 28, 2012. The Company continues to receive
feedback from Canadian regulators on its proposed financing and senior
listing, and during this process, Intertainment has received interest from US
investment banking firms for listing both Intertainment and Ortsbo on senior
US exchanges. The Company has spent time with firms in New York, Chicago and
Los Angeles discussing the opportunity and feels that the interest is
significant enough to consider pursuing such opportunities further and report
its findings to shareholders.

Ortsbo's initial focus has been to create social engagement and commercially
leverage US entertainment and pop culture markets on a global basis and work
with leaders in the industry to effectively create multi-language business
opportunities. To date, Ortsbo has successfully run events with Disney,
Dreamworks, Marvel, KISS, IndyCar, Clear Channel, Variety, Fox, Yahoo!, MSN
and other major brand partners. Given the strong US interest for Ortsbo's and
Intertainment's investment portfolio companies, management feels, in
consultation with its lead financial advisor, M Partners, Inc., that the value
proposition of a US listing may potentially provide greater value for all
stakeholders.

Ortsbo now has over 162 Million unique monthly users, growing by over 55
Million users in the past 90 days and continues to move towards sustainable
revenue with defined commercial opportunities in social media, broadcast
communications, global customer care and ecommerce programs with major brand
partners.

Ortsbo's business development team in the US, Canada and now Europe are
working with major brands to identify their global opportunities to increase
revenues and customer satisfaction experiences with the use of Ortsbo's
proprietary services platform. Additionally, recent changes to the US Federal
Communications Commission's regulations with respect to accessibility through
closed captioning and online intellectual property have opened up a number of
opportunities with major entertainment studios.

Ortsbo has now been engaged in pilot programs for proof of commercial concept
with several global brands. Some of these programs are expected to be made
public in the near future and will potentially provide the Company with
sustainable revenue programs from which to grow its overall commercial
business platform.

As the Company currently awaits final approval for circulation of its
materials to hold a special meeting of shareholders and has publicly
disseminated a proposed date of June 14, 2012 for such meeting, the Company
will move ahead, at this time, with a presentation to shareholders, providing
an interactive forum to present and discuss the Company's progress with
interested parties and allow parties to engage with management.

The meeting on June 14, 2012 will be held at:



Hilton Toronto/Markham Conference Centre
8500 Warden Avenue
Markham, ON
L6G 1A5
Markham Ballroom
Meeting time: 9:30am - 11:30am