Intertainment Media Inc. (TSXV:INT) announced a non-brokered private placement of units for gross proceeds of CAD 3,500,000 on June 20, 2013. Each unit consists of one unsecured convertible debenture and up to 10,000,000 warrants. The debentures will bear interest at 12% per annum and will mature in three years from the date of issuance. The debentures will be convertible into common shares of the company at a conversion price of CAD 0.10 per share. Each warrant entitles the holder to purchase an additional common share of the company at CAD 0.12 per share for a period of three years from the date of issuance. The holder of the units will also have a right to acquire additional units for an amount equal to CAD 3,500,000 less the principal amount of the debenture. The right will entitle the holder to purchase, prior to a date that is four months from the date of the issuance of the right, right units. Each right unit will consist of an unsecured convertible debenture and warrants. The conversion price of the right debentures, the number of right warrants, and the exercise price of the right warrants will be determined at the time of exercise of the right based on the current market price of the common shares of the company. The transaction will involve participation from existing investor, Crede CG II, Ltd.

The company may pay a cash finder's fee in the amount of up to 8% of the gross proceeds and issue finder warrants of up to 8% of the aggregate number of warrants issued pursuant to the transaction. Each finder's warrant will be exercisable into one common share of the company for a three year period from the date of issuance at CAD 0.12 per share. The securities to be issued are subject to a hold period of four months from the date of closing.

On August 13, 2013, the company announced that the closing of the transaction has been extended subject to the regulatory approval.