Innovium Update

On May 5, 2011, the TSX Venture Exchange (the "TSXV") suspended trading in the
Innovium Media Properties Corp.'s ("Innovium" or the "Company") (TSX
VENTURE:IN)(FRANKFURT:IH7) securities as a result of a Cease Trade Order ("CTO")
issued by the Autorite des Marches Financiers ("AMF"). In order to remedy that
circumstance, Innovium completed its audit of the December 31, 2010 financial
statements and on July 12, 2011 Innovium's Board of Directors approved them,
along with the Company's Management's Discussion and Analysis, upon the
recommendation of the Audit Committee.


At this time, these materials have been presented to the AMF for their
consideration (all of this part and parcel of the AMF's continuous disclosure
review program). Only after the AMF has approved Innovium's disclosures will the
Company be able to file these materials.


The TSXV has already provided notice that Innovium has been reclassified as a
Tier 2 company. Innovium must remain in Tier 2 for a minimum of six months prior
to the TSXV accepting application for graduation to Tier 1. If Innovium does not
meet the continued Listing Requirements, the Company will be placed on notice of
transfer to NEX.


The TSXV has advised Innovium that "reinstatement to trading can occur only when
the CTO is revoked and the TSXV has concluded its reinstatement review to ensure
the Company has satisfactorily complied with all TSXV requirements". 


Since the Company's investment in New York-based Seed Media Group ("Seed") does
not generate dividends or payout interest to its investors, for Innovium to
maintain its viability as an ongoing public entity it will need a going-forward
business strategy and the funds to achieve it. Innovium's Board has deliberated
and has agreed that the Company could follow one of two strategies, both of
which it has been pursuing:




1.  Access a minimal amount of money to allow the Company to maintain its
    viability as a public entity and to allow its minority position in Seed
    to mature and achieve a more notable value; or 
    
2.  Access new capital to fund a new business model of pursuing new business
    opportunities.



It is Innovium's intention to provide more updates as circumstances allow. 

Innovium regrets to inform its shareholders that David Rittenhouse, a long time
Director died. His obituary appeared in the Montreal Gazette on Tuesday August
23, 2011. David's counsel and calm demeanor will be sorely missed.


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").