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Innovium Media Properties Corp.: Innovium Completes $700,000 Term Loan

^{Published on 2009-02-27 12:34:44, Last Modified on 2009-02-27 12:35:19 - Market Wire}
 

TORONTO, ONTARIO--(Marketwire - Feb. 27, 2009) - Innovium Media Properties Corp. ("Innovium") (TSX VENTURE:IN) (FRANKFURT:IH7) reports that it has completed a $700,000 term loan. The Loan is a 12%, three-year note, maturing on February 27, 2012. Innovium has the option of repaying the loan at any time after August 27, 2009 without penalty. The loan carries two three-year warrants per dollar invested, resulting in the issuance of 1,400,000 common share purchase warrants exercisable at $0.10 per share until February 27, 2010 and then $0.15 per share until February 27, 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^® ([ www.seedmagazine.com ]) and ScienceBlogs^® ([ 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: [ www.innovium.ca ] or [ innovium@innovium.ca ].

We seek safe harbour.

Neither the TSX Venture Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.