The Intertain Group in Negotiations to Potentially Acquire Assets

TORONTO, Jan. 27, 2015 /CNW/ - The Intertain Group Limited ("Intertain" or the "Company") (TSX:IT) announced today that it is in advanced discussions with a third party regarding a significant acquisition of certain assets (the "Potential Acquisition").

As at the date hereof, there is no assurance that the Company will consummate the Potential Acquisition. The Potential Acquisition is subject to the finalization of definitive documentation and approval of the boards of directors of Intertain and the third party. If successful, the approximate value of the Potential Acquisition will be in the range of C$1B.

The Company will provide a further update regarding the Potential Acquisition if binding agreements are reached, or if a definitive agreement is not reached.  

About The Intertain Group Limited

Intertain is an online gaming company that provides entertainment to a global consumer base. Intertain currently offers bingo and casino to its customers using the InterCasino, Costa, Vera&Johnand other brands.

Forward-Looking Statements
This press release contains forward looking information within the meaning of Canadian securities laws concerning the business, operations and financial performance of the Company. Forward looking information includes but is not limited to statements with respect to current negotiations with the third party regarding the Potential Acquisition, and negotiation and execution of a binding agreement. In particular, there can be no assurance that a binding agreement will be reached in respect of the Potential Acquisition. This forward looking information is based on certain assumptions regarding expected growth, results of operations, performance, and business prospects and opportunities. While the Company considers these assumptions to be reasonable, based on information currently available, they may prove to be incorrect. Forward-looking information is subject to a number of risks, uncertainties and other factors that could cause actual results to differ materially from what the Company currently expects. These risks, uncertainties and other factors include, but are not limited to: credit, market, currency, operational, liquidity and funding risks, including changes in economic conditions, interest rates or tax rates, limited operating history, the fact that on-line gaming is a heavily regulated industry and that such regulation is subject to change, competition from other providers of online gaming services, the possibility that the Company be unable to successfully integrate any proposed assets to be acquired, the risks associated with international and foreign operations and the risks discussed under the heading "Risk Factors" in Intertain's annual information form for the year ended October 31, 2013. Although the Company believes its expectations are based upon reasonable assumptions and has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended.

The foregoing factors are not intended to represent a complete list of the factors that could affect the Company and the Potential Acquisition. The Company does not intend or undertake to publically update any forward-looking statements, whether as a result of new information, future events or otherwise, except in accordance with applicable securities laws.

SOURCE The Intertain Group Limited

Rob Chalmers, [email protected], 1.647.402.7552