TORONTO, CANADA--(Marketwired - Aug 1, 2013) - Intertainment Media Inc. ("Intertainment") (TSX VENTURE:INT)(ITMTF)(I4T.F) is pleased to report that it has completed the sale of Poynt Inc. ("Poynt") to Sprylogics International (TSX VENTURE:SPY), ("Sprylogics" or "the Company") the international provider of innovative mobile search and messaging monetization services under the terms as described in the previous press release dated June 3, 2013.
"We are pleased to have now finalized the sale of Poynt Inc. to Sprylogics as we feel the transaction is currently in the best interest of Intertainment, and positions the Company well for the future based on our ongoing interests under the transaction." said Anthony R. Pearlman, President & COO of Intertainment Media Inc. "We expect that the renewed Poynt foundation we have worked hard on building will contribute to Sprylogics future plans to maximize the full potential of the product."
Mr. Pearlman will assist with the transition to Sprylogics on an ongoing basis and will remain the President and COO of Intertainment.
Sprylogics International develops advanced search and analysis technology. The patent pending technology platform uses Semantic and Machine Learning techniques to process, analyze and interpret unstructured data including real time conversation, in order to extract key sentiments, facts, user interests and intent. The technology platform is currently being used to develop innovative solutions related to search and discovery of products and places on mobile devices. Find out more at www.sprylogics.com or www.2ya.it.
About Intertainment Media
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 including Ortsbo, Deal Frenzy, The Sweet Card and Magnum, with investments in leading edge technologies and social media platforms including theaudience.com, capthat.com and Yappn.com (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, 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) of the Frankfurt Exchange through the XETRA trading platform under the symbol "I4T".
Neither 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.
Cautionary and Forward-looking Statements - Statements contained in this news release which are not historical facts are forward-looking statements that involve risk, uncertainties and other factors that could cause actual results to differ materially from those expressed or implied by such forward-looking statements. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. All forward-looking statements included in this news release are based on information available to the Company on the date hereof. The Company assumes no obligation to update any forward-looking statements, except as required by applicable securities laws.