IMAX Amends Indenture Upon Receipt Of Requisite Consents In Consent Solicitation For Senior Notes



    TORONTO, April 16 /CNW/ - IMAX Corporation (NASDAQ:  IMAX; TSX:IMX) (the
"Company") announced today that a supplemental indenture for its $160 million
aggregate principal amount of outstanding 9 5/8 % Senior Notes due 2010 (the
"Senior Notes") has been executed and the amendment to the indenture governing
the Senior Notes and waiver of certain defaults has become effective. Upon the
expiration of its consent solicitation, the Company has received consents from
a majority of the holders of the Senior Notes as of the record date to extend
the deadline to file the Company's Annual Report on Form 10-K for the year
ended December 31, 2006 and all other reports required to be filed by it under
the Securities Exchange Act of 1934, until May 31, 2007 or at its election
until June 30, 2007. The consent constitutes a waiver of any existing defaults
arising from a failure to comply with the reporting covenant under the
indenture governing the Senior Notes. Consents were received from holders of
approximately $95.4 million, or 59.61%, aggregate principal amount of the
Senior Notes. The consent solicitation expired at 12:01 p.m., New York City
time, on April 16, 2007.

    About IMAX Corporation
    IMAX Corporation is one of the world's leading entertainment technology
companies, specializing in digital and film-based motion picture technologies.
The worldwide IMAX(R) network is among the most important and successful
theatrical distribution platforms for major event Hollywood films around the
globe, with IMAX theatres delivering the world's best cinematic presentations
using proprietary IMAX, IMAX(R) 3D, and IMAX DMR(R) technology. IMAX DMR is
the Company's groundbreaking digital remastering technology that allows it to
digitally transform virtually any conventional motion picture into the
unparalleled image and sound quality of The IMAX Experience(R). IMAX's
renowned projectors display crystal-clear images on the world's biggest
screens, and the IMAX brand is recognized throughout the world for
extraordinary and immersive entertainment experiences for consumers. As of
September 30, 2006, there were 280 IMAX theatres operating in 40 countries.

    IMAX(R), IMAX(R) 3D, IMAX DMR(R), IMAX MPX(R) and The IMAX Experience(R)
are trademarks of IMAX Corporation. More information on the Company can be
found at www.imax.com.

    This press release contains forward looking statements that are based on
management assumptions and existing information and involve certain risks and
uncertainties which could cause actual results to differ materially from
future results expressed or implied by such forward looking statements.
Important factors that could affect these statements include the timing of
theatre system deliveries, the mix of theatre systems shipped, the timing of
the recognition of revenues and expenses on film production and distribution
agreements, the performance of films, the viability of new businesses and
products, the outcome of the Company's current accounting review, risks
arising from potential material weaknesses in internal control over financial
reporting, the ability to satisfy the reporting covenant by the amended filing
deadlines, the extent and impact of the restatement of our financial
statements, the outcome of the appeal of the NASDAQ Staff Determination letter
and fluctuations in foreign currency and in the large format and general
commercial exhibition market. These factors and other risks and uncertainties
are discussed in the Company's Annual Report on Form 10-K for the year ended
December 31, 2005.





For further information:

For further information: Media: IMAX Corporation, New York, Sarah
Gormley, (212) 821-0155, sgormley@imax.com; Business Media: Sloane & Company,
New York, Whit Clay, (212) 446-1864, wclay@sloanepr.com; Investors: Integrated
Corporate Relations, Amanda Mullin, (203) 682-8243, Amanda.Mullin@icrinc.com

Organization Profile

IMAX Corporation

More on this organization


Custom Packages

Browse our custom packages or build your own to meet your unique communications needs.

Start today.

CNW Membership

Fill out a CNW membership form or contact us at 1 (877) 269-7890

Learn about CNW services

Request more information about CNW products and services or call us at 1 (877) 269-7890