Innovative Properties Inc. Extends Maturity Date of Secured Convertible Debentures to June 30, 2011

THIS RELEASE IS NOT FOR DISSEMMINATION IN THE UNITED STATES OR FOR RELEASE TO
U.S. NEWSWIRE SERVICES.


Innovative Properties Inc. (the "Corporation") (TSX VENTURE:INR) wishes to
announce that it intends to extend the maturity date of the secured convertible
debentures ("Debentures") issued pursuant to the private placement which closed
on December 10, 2009 from its original maturity date of June 30, 2010 to June
30, 2011. All other terms of the Debentures will remain the same, including
interest payable and the conversion rate per common share. All Debentureholders
have agreed to the proposed amendment. The Corporation will submit an
application to the TSX Venture Exchange in connection with the proposed
amendment for review and approval. 


This news release shall not constitute an offer to sell or the solicitation of
an offer to buy any securities of Innovative Properties Inc. in any
jurisdiction.


ABOUT INNOVATIVE PROPERTIES INC. 

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


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, 2009 which were filed to SEDAR on February 11, 2010
and are available at www.sedar.com. The Corporation's forward-looking statements
are expressly qualified in their entirety by this cautionary statement.