TORONTO, ONTARIO — (Marketwired) — 11/20/14 — The Intertain Group Limited (“Intertain” or the “Company”) (TSX: IT) proudly announces today that in further support of Intertain–s acquisition strategy going forward, both senior management and the members of the Board have exercised all Intertain warrants held.
The Company also provides correction to its press release titled “Intertain Group Limited Announces 2014 Third Quarter Financial Results Adjusted EBITDA up 50% Over Q2” which was distributed on November 12, 2014. Interest accretion was inadvertently added back twice to calculate adjusted EBITDA figures in the Q3 MD&A and the error, which is deemed to be immaterial, was overlooked both by management and Intertain–s auditors reviewing the MD&A. There are no resulting corrections to either the financial statements or adjusted net income per share.
The table below, headed “Financial Highlights” has been revised to provide corrected amounts for the Company–s “Adjusted EBITDA”, “Basic adjusted EBITDA per share” and the “Diluted adjusted EBITDA per share” and such corrected amounts are underlined. In addition, the descriptive note (1) concerning Adjusted EBITDA has been revised to delete reference to “interest accretion”.
The table below, headed “EBITDA Reconciliation” has been revised to (i) delete the line item for “Interest accretion” in its entirety, and (ii) provide corrected amounts for the Company–s “Adjusted EBITDA” and such corrected amounts are underlined.
Financial Highlights:
EBITDA Reconciliation:
About The Intertain Group Limited
Intertain is an online gaming company that provides entertainment to a global consumer base. Intertain currently offers casino, bingo and poker games to its customers using the InterCasino, InterPoker, Costa and other brands. The InterCasino and InterPoker gaming platform is supplied by Amaya Gaming Group Inc. and its bingo offering operates off of the Dragonfish platform, a leading bingo software service provided by 888 Holdings plc.
Disclaimer in Regards to Forward-Looking Statements
Certain statements included herein, including those that express management–s expectations or estimates of our future performance constitute “forward-looking statements” within the meaning of applicable securities laws. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable by management at this time, are inherently subject to significant business, economic and competitive uncertainties and contingencies. Investors are cautioned not to put undue reliance on forward-looking statements. Except as required by law, the Company does not intend, and undertakes no obligation, to update any forward-looking statements to reflect, in particular, new information or future events. Additional information identifying risks and uncertainties is contained in Intertain–s filings with the Canadian securities regulators, available at .
Contacts:
The Intertain Group Limited
Rob Chalmers
647-402-7552
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