TORONTO, ONTARIO--(Marketwire - June 5, 2009) - Innovium Media Properties Corp. ("Innovium") (TSX VENTURE:IN)(FRANKFURT:IH7) reports that it has closed term loans totalling $360,000. The loans are comprised of 12% three-year notes maturing on June 4, 2012. Innovium has the option of repaying the loans at any time after December 4, 2009 without penalty. The loans carry two three-year warrants per dollar invested, resulting in the issuance of 720,000 common share purchase warrants exercisable at $0.10 per share until June 4, 2012.
The proceeds will be used for working capital purposes including the continued support of Seed Media Group LLC.
About Innovium Media Properties Corp.
Innovium's venture investment portfolio is devoted to Seed Media Group LLC, a private media and technology company focused on the professional and consumer science markets. Seed's award winning brands include Seed(R) (www.SEEDMAGAZINE.com) and ScienceBlogs(R) (www.scienceblogs.com). Innovium trades under the symbol IN on the TSX Venture Exchange ("TSX - V") and IH7 on the Frankfurt Stock Exchange ("FWB").
For additional information contact: innovium@innovium.ca
We seek safe harbour
FOR FURTHER INFORMATION PLEASE CONTACT:
Innovium Media Properties Corp. Neil Raymond Chairman and CEO (514) 281-0481 ceo@innovium.caor
Innovium Media Properties Corp. Jamie Macintosh President and COO (416) 862-7444 coo@innovium.caor
Innovium Media Properties Corp. Julio DiGirolamo CFO and Corporate Secretary (416) 862-7444 cfo@innovium.ca
Neither the TSX Venture Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.
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