Innovative Properties Inc. and DIME Inc Announce Transfer of Shares in Satisfaction of Outstanding Debentures

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Innovative Properties Inc. ("INR") (TSX VENTURE:INR) and DIME Inc ("DIME")
announced today that 100% of the common shares of DIME ("DIME Shares") have been
transferred by INR to the holders (the "Debentureholders") of the $600,000 in
principal amount of convertible debentures of INR issued in November 2009 (the
"Debentures"), in accordance with the terms and conditions of the Debentures.
The DIME Shares had been pledged by INR to the Debentureholders and are being
transferred to the Debentureholders in full satisfaction of the principal and
accrued interest due under the Debentures. The transaction will reduce INR's
consolidated liabilities from approximately $1,300,000 to $300,000. Among the
Debentureholders are the Chief Executive Officer, Chief Financial Officer and
two directors of INR.


DIME also announces that it has issued additional shares in satisfaction of
approximately $300,000 of liabilities so that it will have less than $100,000 of
liabilities following the completion of these transactions.


Dime will continue to operate as a private company providing digital signage
sales and services. DIME has solid relationships with a number of major
customers including Pharmasave Drugs (Atlantic) Ltd and Bell Aliant. Gordon Neal
President, CEO and Boyd Hunter, CFO, will continue to serve as officers of DIME
and Steven Morrison, the founder of the Corporation, will continue as Chief
Technology officer.


INR's management is actively pursuing investment capital to finance operations
until a new business opportunity can be undertaken. 


ABOUT INNOVATIVE PROPERTIES INC. 

Innovative Properties Inc. is a publicly traded Canadian corporation involved in
property management related services and technologies. 


ABOUT DIME INC. 

DIME Inc (www.dimeinc.com) is Atlantic Canada's premier narrowcaster, providing
end to end digital signage products for healthcare, property management, retail,
and other sectors.


FORWARD LOOKING STATEMENTS 

Certain information regarding the Corporation contained herein may constitute
forward-looking statements within the meaning of applicable securities laws.
Forward-looking statements may include estimates, plans, expectations, opinions,
forecasts, projections, guidance or other statements that are not statements of
fact. Although the Corporation believes that the expectations reflected in such
forward-looking statements are reasonable, it can give no assurance that such
expectations will prove to have been correct. The Corporation cautions that
actual performance will be affected by a number of factors, many of which are
beyond the Corporation's control, and that future events and results may vary
substantially from what the Corporation currently foresees. Discussion of the
various factors that may affect future results is contained in the Corporation's
audited annual financial statements and management discussion and analysis for
the year ended October 31, 2008 which were filed to SEDAR on February 25, 2009
and are available at www.sedar.com. The Corporation's forward-looking statements
are expressly qualified in their entirety by this cautionary statement.