An unknown private technology group entered into a letter of intent to acquire 60% stake in Itibiti Inc. and Ad Taffy Inc. for CAD 3.4 million from Intertainment Media Inc. (TSXV:INT) on November 28, 2012. Intertainment Media Inc. will also get a secured perpetual revenue share of 40% for the first 2 years and declining to 20% annually at year 5 and beyond from the independently managed operations. The private technology group will manage and undertake the day to day management, operations and development of the Itibiti platform including the KNCTR application. Intertainment Media Inc. will also receive one Board seat. The deal is subject to due diligence and negotiation of definitive agreements. The deal is expected to close within 60 days since now.

An unknown private technology group completed the acquisition of 60% stake in Itibiti Inc. and Ad Taffy Inc. from Intertainment Media Inc. (TSXV:INT) on March 31, 2013.