CALGARY, April 13 /CNW/ - Imaging Dynamics Company Ltd. ("IDC" or the "Company") (TSX: IDL) - wishes to announce that it will make application to the
Toronto Stock Exchange ("TSX") for the re-pricing of 5,729,165 share purchase warrants (the "Re-priced Warrants") originally issued in connection with a non-brokered loan that closed
on June 8, 2009. The original terms specified that each whole warrant
was exercisable into one common share of IDC at a price of $0.12 per
share expiring on June 8, 2012. The Company will amend the warrant
exercise price from $0.12 per share to $0.05 per share. None of the
holders of the Re-Priced Warrants are insiders (as such term is defined
in the Toronto Stock Exchange Company Manual) of IDC.
The Company had previously applied to the TSX for the re-pricing of the
Re-Priced Warrants on November 5, 2010 (please see IDC's news release
dated November 5, 2010 under the Company's profile on The System for
Electronic Document Analysis and Retrieval (SEDAR) website at www.sedar.com) but the Company did not go forward with the re-pricing at that time as
the Company had begun negotiating potential financing options after it
has received conditional approval of the TSX for the re-pricing of the
The transaction is subject to acceptance by the TSX.
About Imaging Dynamics Company (IDC):
IDC is a medical devices technology company and innovative force in the
high growth field of digital radiography (DR) technology. IDC's product
line of CCD-based X-Series direct capture technology replaces
conventional film-based diagnostic imaging and provides a
cost-effective alternative to flat panel (TFT) technology and computed
radiography (CR) systems.
Each IDC DR solution provides high resolution radiographic images in the
digital format required for today's PACS (Picture Archiving &
Communication Systems) and the growing requirements for the electronic
health record, all without the use of film, environmentally unfriendly
chemicals, cassettes or expensive imaging plates.
Throughout its history, IDC has been recognized by multiple industry
organizations and research analysts such as: Frost & Sullivan, Deloitte
Technology and PROFIT; for its consistent dedication to innovation,
global growth, and customer focused value proposition.
IDC is based in Calgary, Alberta, Canada. Visit the IDC Web site: www.imagingdynamics.com
Statements in this release which describe IDC's intentions, expectations
or predictions, or which relate to matters that are not historical
facts are forward-looking statements. These forward-looking statements
involve known and unknown risks and uncertainties which may cause the
actual results, performances or achievements of IDC to be materially
different from any future results, performances or achievements
expressed in or implied by such forward-looking statements. IDC may
update or revise any forward-looking statements, whether as a result of
new information, future events or changing market and business
conditions. Known and unknown risks and uncertainties include: IDC's
ability to manufacture its products with a sufficient level of quality
and in volumes which satisfy market demand; the ability of IDC to
establish direct and indirect sales channels; the ability of IDC to
establish industry partnerships; IDC's ability to attract and retain
key personnel; the strength and breadth of IDC's patents; and other
factors relating to general economic conditions, specific industry
conditions and IDC's particular situation.
SOURCE Imaging Dynamics Company Ltd.
For further information:
Mr. Swapan Kakumanu
President & CEO