IMAX Corporation replaces previously expired shelf registration statement



    NEW YORK, Feb. 13 /CNW/ - IMAX Corporation (Nasdaq:   IMAX; TSX: IMX) today
announced that it has filed a universal shelf registration statement on Form
S-3 with the Securities and Exchange Commission ("SEC"). This shelf
registration replaces the Company's previous universal shelf registration
which has expired. As with its previous shelf, this shelf registration
statement, when declared effective by the SEC, would allow the Company to
issue up to $250 million in securities, including debt securities, common
stock, or warrants to purchase debt securities or common stock, or any
combination of such securities, from time to time. The Company intends to use
any proceeds from any offering to reduce its debt obligations.
    Richard L. Gelfond and Bradley J. Wechsler, Co-Chairmen and Co-Chief
Executive Officers commented, "IMAX has no immediate plans to use the shelf
registration statement for any specific financing, but it has been the
preferred policy of the Company to have this type of customary shelf
registration in place. This filing gives IMAX maximum financial flexibility in
order to take advantage of healthier market conditions in the future. The
Company remains completely focused on the smooth roll-out of our IMAX digital
systems, for which there are currently 55 in operation and on continuing to
build our future movie slate."
    The registration statement on Form S-3 filed with the SEC has not yet
become effective. Securities may not be sold nor may offers to buy be accepted
prior to the time that the registration statement becomes effective. This news
release does not constitute an offer to sell, or the solicitation of an offer
to buy securities, nor shall there be any sale of securities in any state in
which such offer, solicitation or sale would be unlawful prior to registration
or qualification of the securities under the securities laws of that state.

    About IMAX Corporation

    IMAX Corporation is one of the world's leading entertainment technology
companies, specializing in immersive motion picture technologies. The
worldwide IMAX network is among the most important and successful theatrical
distribution platforms for major event Hollywood films around the globe, with
IMAX(R) theatres delivering the world's best movie presentations using
proprietary IMAX, IMAX(R) 3D, and IMAX DMR(R) technology. IMAX DMR is the
Company's groundbreaking digital re-mastering 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, 2008, there were 320 IMAX theatres operating in 42 countries.
    IMAX(R), IMAX(R) 3D, IMAX DMR(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's 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 ongoing
discussions with the SEC and OSC relating to their ongoing inquiries and the
Company's accounting, the performance of films, the signing of theatre system
agreements, the viability of new technologies, businesses and products, 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, risks arising from potential material weaknesses in
internal control over financial reporting and fluctuations in foreign currency
and in the large format, general commercial exhibition and out-of-home
entertainment markets. These factors and other risks and uncertainties are
discussed in the Company's most recent Annual Report on Form 10-K and most
recent Quarterly Reports on Form 10-Q.





For further information:

For further information: Media: IMAX Corporation, New York, Sarah
Gormley, (212) 821-0155, sgormley@imax.com; Entertainment Media: Rogers &
Cowan, Los Angeles, Jason Magner, (310) 854-8128, jmagner@rogersandcowan.com;
Investors: IMAX Corporation, New York, Heather Anthony, (212) 821-0121,
hanthony@imax.com; Business Media: Sloane & Company, New York, Whit Clay,
(212) 446-1864, wclay@sloanepr.com

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IMAX Corporation

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