Vancouver, BC, Canada, March 28, 2013 - Intelimax Media Inc. ("Intelimax" or the "Company") (CNSX:IMD & OTCPink:IXMD) wishes to announce that further to its news release of February 22, 2013, The Company has completed the closing of its first tranche of the private placement and has issued an aggregate of 12,043,000 units at a price of $0.05/unit for gross proceeds of $602,150 that includes an aggregate of 2,718,000 units for $135,900 of debt settlement agreements, on the same terms as the private placement.
Further to its news release dated on March 19, 2013 the Company has closed the negotiated debt settlements with certain of its creditors, including two directors of the Company, in relation to an aggregate of $135,900 in debt owed to the creditors.
Under the terms of debt settlement agreements, the Company proposes to issue an aggregate of 2,718,000 units on the same terms as its current private placement. Each unit, which will be issued to the creditors at a deemed price of $0.05/unit, will be comprised of one share and one two year warrant, with each warrant entitling the holder thereof to purchase one common share of the Company at a price of $0.10/share in the first year and $0.15/share in the second year.
All securities issued pursuant to this private placement are subject to a four month hold period expiring on July 28, 2013 subject to Canadian hold period expiry.
About Intelimax Media Inc.
Intelimax Media Inc. (www.intelimax.com) is an Internet media services company focusing on fantasy sports, entertainment, social media, advertising and web content. Using its' proprietary Social Media Platform, Intelimax currently offers daily fantasy sports on its web property DraftTeam.com.
Phone: 1-866-742-0121 Email: IR@Intelimax.com
For and on behalf of the board of Intelimax Media Inc.,
Michael Young, President & CEO
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