InterRent Enters Into Business Development Agreement with Linear Capital Corp.

TSX.V - IIP

TORONTO, June 3 /CNW/ - InterRent International Properties Inc.,
("InterRent" or the "Company"), today announced that it has engaged Linear
Capital Corp. ("Linear") as its business development specialist, subject to
regulatory approval. Linear is an arm's-length consulting firm specializing in
business-development and investor related activities with offices in Toronto
and Montreal.
The agreement between the Corporation and Linear (the "Agreement") is for
an initial period of 18 months. The Agreement can be extended by mutual
agreement of the parties for a further 18-month period. Linear is a full and
comprehensive provider of corporate finance and investor relations services,
and will assist the Corporation in fostering productive, continuing dialogues
with analysts, brokers, investors and other financial professionals.
Linear will receive a monthly retainer of $2,500 for the initial term of
the IR Agreement. The Corporation will also issue as compensation options to
purchase 150,000 common shares at an exercise price of $0.40 and an expiry
date 36 months from the date of this release. The options granted will vest in
accordance with applicable regulations.

InterRent is a rapidly expanding, growth oriented real estate company
engaged in building shareholder value through the acquisition, ownership and
operation of strategically located income producing multi-residential real
estate within major Ontario population centers.

    The TSX Venture Exchange has not reviewed and does not accept
     responsibility for the adequacy or accuracy of this release.
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