ZoomerMedia Limited Proposes Private Placement for Up to $15,000,000

TORONTO, ONTARIO--(Marketwire - Jan. 19, 2011) -

ZoomerMedia Limited (TSX VENTURE:ZUM) is pleased to announce that it has entered into an agreement in connection with a private placement offering of up to 60,000,000 Common Shares at a price of $0.25 per Common Share for aggregate gross proceeds of up to $15,000,000 (the "Offering").

Dundee Securities Corporation has agreed to act as Lead Agent on a best efforts agency basis with respect to the Offering. The Lead Agent has been granted an option to sell up to an additional $750,000 in Common Shares at the same issue price.

"It seems like, everywhere, the world is waking up to the Zoomer Phenomenon; and everyday we are faced with or are offered new opportunities. This financing will help us respond to them with vigour where appropriate" said Moses Znaimer, President & CEO of ZoomerMedia Limited. "The proceeds from the sale of the Common Shares will be used for strategic acquisitions and for general corporate working capital purposes."

The Offering is scheduled to close on or about February 25, 2011 and is subject to certain conditions including, but not limited to, the receipt of all necessary approvals including the approval of the TSX Venture Exchange and the securities regulatory authorities.

Any securities to be issued will be subject to a hold period of four months from the closing date in accordance with the rules and policies of the TSX Venture Exchange and applicable Canadian securities laws and such other further restrictions as may apply under foreign securities laws.

About ZoomerMedia Limited

ZoomerMedia is a multimedia company that serves the 45plus "Zoomer" demographic through television, radio, magazine, internet and trade shows. ZoomerMedia's television properties include; VisionTV, Canada's only multi-faith specialty television service; ONE: the Body, Mind & Spirit Channel, offering programs on exercise, meditation, yoga, natural health and living a planet-friendly lifestyle; Joytv 10 in Vancouver and Joytv 11 in Winnipeg, two conventional television stations, available over the air and on cable in their respective markets. ZoomerMedia's radio properties include CFMZ-FM Toronto – The New Classical 96.3FM, CFMX-FM Cobourg – The New Classical 103.1FM, Canada's only commercial classical music radio stations serving the Greater Toronto Area (GTA) and eastern Ontario, and CFZM- AM 740 Toronto – The New AM740 Zoomer Radio, the last music service left on the AM dial in the GTA. ZoomerMedia also publishes Zoomer Magazine, the largest paid circulation magazine in Canada for the 45+ market. ZoomerMedia is Canada's leading provider of online content targeting the 45plus age group through several properties, the key one being www.50plus.com. ZoomerMedia also has a trade show division that conducts annual consumer shows directed to the 45plus age group and owns ideaCity, an annual Canadian conference also known as 'Canada's Premiere Meeting of the Minds'.

Cautionary note on forward looking statements

Statements in this release that are forward-looking are subject to various risks and uncertainties concerning the specific factors identified above and in the Company's periodic filings with the Ontario Securities Commission. Specifically, completion of the private placement of up to $15,000,000 is subject to a number of conditions, including but not limited to TSX Venture Exchange acceptance. There can be no assurance that the private placement will be completed as proposed or at all. Such information contained herein represents management's best judgment as of the date hereof based on information currently available. The Company does not intend to update this information and disclaims any legal liability to the contrary.

This news release does not constitute an offer to sell or a solicitation of an offer to sell any securities in the United States. The securities referred to herein have not been and will not be registered under the United States Securities Act of 1933, as amended, or state securities laws and may not be offered or sold within the United States or to U.S Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.