InterMetro Communications Inc. (OTCPK:IMTO) announced that it will receive $2,000,000 in a round of funding on January 15, 2014. The company will issue series B preferred stock convertible into shares and warrants in the transaction. The company will issue securities pursuant to exemption provided under Regulation D. The minimum investment accepted from any outside investor is $250,000.

On the same date, the company issued 501,000 series B convertible preferred shares at a price of $1 per share for gross proceeds of $501,000 to a single investor. The preferred shares are convertible into common shares of the company at a conversion price of $0.15 per share. The shares generally may be redeemed by the company for $1.25 per share plus payment of any accrued but unpaid dividends. The company also issued 501,000 warrants to purchase common shares of the company at an exercise price of $0.20 per share.