IPC Iplayco Corporation Ltd

Iplayco Corporation Limited (TSX VENTURE:IPC) ("Iplayco" or the "Corporation")
announces that it has entered into revolving loan agreements (collectively, the
"Loan Agreements") with four of its directors, including the Corporation's Chief
Executive Officer and President, and the Corporation's Chief Financial Officer,
pursuant to which such directors and officers will lend to the Corporation the
aggregate principal amount of $410,000 (collectively, the "Revolving Loans").
The Revolving Loans will bear interest at the rate of 15.0% per annum, are
unsecured, mature on January 31, 2013 and can be renewed for additional
six-month periods.


Proceeds from the Revolving Loans will be used to repay the Corporation's
existing $500,000 operating loan facility with the Royal Bank of Canada (the
"Operating Facility") and to provide the Corporation with additional working
capital. As of May 15, 2012, the Corporation had drawn $195,000 of the Operating
Facility. The Royal Bank of Canada has advised the Corporation that it requires
increased security by way of $500,000 in guarantees supported by term deposits
and/or mortgage security in order to maintain the Operating Facility. The
Corporation has relied on the Operating Facility to fund a significant portion
of its working capital requirements. To avoid financial hardship, the
Corporation has entered into the Revolving Loan Agreements. The Corporation
plans on closing the Operating Facility on or before May 17, 2012. 


The Corporation's Board of Directors (the "Board") is composed of six directors,
of which three are independent directors and three are members of management,
including the Corporation's Chief Executive Officer, President and Executive
Vice-President. The Chairman of the Board and the Corporation's Executive
Vice-President did not participate in the Revolving Loans. The Board has
determined that entering into the Loan Agreements is in the best interest of the
Corporation and has unanimously approved the terms of the Revolving Loans, use
of the Revolving Loan proceeds and the planned closure of the Operating
Facility.


ON BEHALF OF THE BOARD OF DIRECTORS

Scott C. Forbes, President and Director

About Iplayco Corporation Limited

Iplayco designs, manufactures and installs customized indoor and outdoor play
structures for children. Iplayco also owns and operates a family entertainment
centre ("The Great Escape") in Langley, British Columbia. For more information,
please visit www.iplaycoltd.com. 


Cautionary Note Regarding Forward-looking Statements

This news release contains certain forward-looking statements. All statements,
other than statements of historical fact, included herein, including without
limitation statements regarding the Corporation's business, results or future
plans, are forward looking statements that involve various risks and
uncertainties. There can be no assurance that such statements will prove to be
accurate and actual results and future events could differ materially from those
anticipated in such statements. Important factors that could cause actual
results to differ materially from the Corporation's expectations are disclosed
elsewhere in documents that are available to the public.

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