NEW YORK, NEW YORK and LOS ANGELES, CALIFORNIA and SAN MATEO, CALIFORNIA and TORONTO, ONTARIO — (Marketwire) — 12/08/11 — Intertainment Media Inc. (“Intertainment” or the “Company”) (TSX VENTURE: INT)(OTCQX: ITMTF)(FRANKFURT: I4T) is pleased to announce the appointment of Mr. Patrick Bultema as Interim-President of Ortsbo Inc. (“Ortsbo”) and Mr. Jonah Schnel as a Senior Advisor to the firm. Mr. David Lucatch, current President of Ortsbo Inc., will assume the role of Chief Executive Officer. Both Mr. Bultema and Mr. Schnel are recognized for their achievements in the technology and venture capital arena in the US.
Patrick Bultema brings over 30 years of industry experience to Ortsbo having led numerous start-up ventures and high growth private and public companies in the US, Canada and globally including Chairman and General Manger of Ziff Davis Help Desk Institute. As a recognized technology and business author and speaker Patrick has written 10 books, numerous articles and instructional videos. Mr. Bultema continues to be active in providing strategic corporate direction to organizations, and has successfully led numerous capital raises. Mr. Bultema has a Bachelors Degree from California State University and a Masters from Princeton University.
Mr. Schnel has a diverse background in finance and technology both as an investor and operator. As co-founder and Managing Partner of Los Angeles-based venture capital firm, ITU Ventures, Mr. Schnel oversaw the management of four institutionally-sponsored investment partnerships. ITU Ventures provided seed and early-stage capital to over 30 technology companies that were affiliated with leading US-based research universities and laboratories, or with entrepreneurs that had close ties to such innovation centers. Prior to ITU Ventures, Mr. Schnel was a Manager at SunAmerica Investments where he participated in the origination of commercial real estate portfolio assets. In addition to serving as an advisor to several early-stage technology companies, Mr. Schnel currently manages investments in several private specialty finance companies. Mr. Schnel graduated summa cum laude from Tulane University.
In their capacities as President and Senior Advisor to Ortsbo, Mr. Bultema and Mr. Schnel will work with the current management and board to further develop Ortsbo-s strategic operations plans, corporate development, technical delivery and market deployment as well leading the recruitment of a world-class management team. Mr. Bultema and Mr. Schnel will also assist with advisory regarding the execution of Ortsbo-s relocation of its business development offices to Southern California to take advantage of the rich resources in the social media, venture, and entertainment industries.
“We are very honored and excited to have Patrick and Jonah assisting the senior management team at Ortsbo as we begin to accelerate our efforts as an independent entity,” said David Lucatch. “Their combined experience, knowledge and capital formation backgrounds are key essentials as Ortsbo strives to become an industry leader in experiential language services and technology.”
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About Ortsbo Inc.
Ortsbo () enables real-time conversational translation in over 50 languages and seamlessly integrates with today-s most popular social media platforms.
Ortsbo Inc. is a subsidiary of Intertainment Media Inc., a Rich Media Applications leader, focused on delivering leading edge technology and marketing solutions enabling clients to power enhanced branding, loyalty initiatives and consumer engagement. Selected as a Microsoft Global Agency Initiative partner, Intertainment has joined an elite group of interactive agencies worldwide that Microsoft recommends to its Partners and Customers.
Ortsbo-s flagship product for social media () supports global communications with instant translation capability, real time multi-lingual social media chat connects to PC and Mac computers, mobile browsers as well as all major search engine chat platforms including Microsoft, Google and Yahoo! along with Facebook, iChat, AIM, ICQ, Gadu-Gadu, Ovi, Lotus Sametime, LiveJournal and Tencent QQ and QQ International, China-s largest chat platforms and Twitter.
Ortsbo allows users to communicate with family, friends and colleagues around the world, providing users with the ability to break down language and cultural barriers through its easy to use, language centric interface. User demographics have continued to favor the BRIC countries with China remaining the number one usage country for Ortsbo followed by Brazil, the US, South Korea, Canada, Taiwan, Germany, Argentina, Russia and India. Ortsbo-s Top 10 user countries have a combined population of over 3.4 Billion people.
International rock legend, accomplished global entrepreneur and one of the world-s most recognized personalities, Gene Simmons has endorsed Ortsbo.com, having signed on as a business partner and to serve as Ortsbo-s official spokesperson.
The personification of today-s globally connected, multi-cultural citizen, Simmons is fluent in five languages, including English, Hebrew, Hungarian, and German, as well as some Japanese and he-s working to add Mandarin to his repertoire. Simmons will lend his legendary personality to help spread the word about Ortsbo-s unique, translator experience platform that integrates seamlessly with the most popular social media platforms to enable users from around the world to instantly send and receive messages in their native language.
Two-time NBA MVP Steve Nash to become an official spokesperson for Ortsbo. Leading Ortsbo-s global sports fan program, Nash will present and participate in a number of online fan chats with international athletes from a number of sports disciplines.
Intertainment Media owns and operates a number of key properties including Ad Taffy, itiBiti, Ortsbo and Magnum. For more information on the Company and its properties, please visit .
Headquartered in the Toronto, Canada region, with offices in New York, Los Angeles and San Mateo, CA, Intertainment Media Inc. is listed on the Toronto Venture Exchange under the symbol “INT” (TSX VENTURE: INT) and in the US on the OTCQX under the symbol “ITMTF”. Intertainment is also traded in Europe on the Frankfurt Exchange under the symbol “I4T” using the XETRA trading platform.
This news release may contain certain forward-looking information. All statements included herein, other than statements of historical fact, is forward-looking information and such information involves various risks and uncertainties. There can be no assurance that such information will prove to be accurate, and actual results and future events could differ materially from those anticipated in such information. A description of assumptions used to develop such forward looking information and a description of risk factors that may cause actual results to differ materially from forward-looking information can be found in the company-s disclosure documents on the SEDAR website at . The company does not undertake to update any forward-looking information except in accordance with applicable securities laws.
This release may contain forward looking statements within the meaning of the “safe harbor” provisions of US laws. These statements are based on management-s current expectations and beliefs and are subject to a number of risks and uncertainties that could cause actual results to differ materially from those described in the forward looking statements. Intertainment Media Inc. does not assume any obligation to update any forward looking information contained in this news release.
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.
Contacts:
For Ortsbo / Intertainment Media Inc.:
David Lucatch, CEO
800-395-9943 / 905-763-3510
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