INR

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) announced today
that it proposes to issue up to $600,000 in secured convertible debentures
("Debentures") through a non-brokered private placement (the "Private
Placement"), comprised of up to $345,000 in new debt and the conversion of
$255,000 in existing debt The Debentures will bear interest at the rate of
fifteen percent (15%) per annum, with interest payable quarterly, and will
mature on June 30, 2010 (the "Maturity Date"). Debentureholders may convert the
Debentures into common shares of the Corporation ("Shares") at a conversion rate
of $0.10 per Share at any time until the Maturity Date. The Debentures will be
secured by the pledge of the common shares of DIME - Dynamic Integrated
Marketing Enterprises Inc., a wholly-owned subsidiary of the Corporation.


Approximately $252,500 of the Debentures is anticipated to be issued to insiders
of the Corporation, including the Chief Executive Officer, Chief Financial
Officer and two of the Corporation's directors. The funds raised from the
Private Placement will be used for repayment of debt, general corporate purposes
and the advancement of the development activities of the Corporation.


The Private Placement is expected to close by mid-November 2009, subject to
receipt of TSX Venture Exchange approval and all other required approvals. The
Corporation has 24,537,825 issued and outstanding Shares.


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, 2008 which were filed to SEDAR on February 25, 2009
and are available at www.sedar.com. The Corporation's forward-looking statements
are expressly qualified in their entirety by this cautionary statement.

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