CALGARY, Nov. 19, 2013 /CNW/ - Imaging Dynamics Company Ltd. ("IDC" or the "Company") (TSX:IDL), a global leader in the high growth digital radiography (DR) equipment
market, today announced a non-brokered private placement with
individuals to purchase 10,000,000 common shares ("Common Shares") for
aggregate gross proceeds of $500,000 at a price of $0.05 per Common
Share (the "Private Placement"). The Company is in discussions with
other parties that could increase the size of the offering by another
6,000,000 Common Shares for additional aggregate gross proceeds of
$300,000, also at a price of $0.05 per Common Share although there is
no assurance that a further private placement for the additional
aggregate proceeds or any smaller amount can or will be finalized.
Proceeds from this Private Placement will be used for general working
capital and corporate purposes. The Common Shares issued in connection
with the Private Placement will be subject to a four month hold period
from the date of issuance in accordance with applicable securities law.
The Private Placement will also be subject to certain conditions,
including the approval of the Toronto Stock Exchange ("TSX").
About Imaging Dynamics Company (IDC):
IDC is a global medical imaging technology provider and innovative force
in the high growth field of digital radiography (DR) technology.
The Company has over 3,000 installations in 50 countries of its
proprietary, award winning direct capture DR technology, which replaces
conventional film-based diagnostic imaging and provides a
cost-effective solution for medical facilities of all sizes to provide
high quality diagnostic X-ray images and improve the level of
healthcare for their patients.
Throughout its history, IDC has been recognized by multiple industry
organizations and research analysts such as: Frost & Sullivan and
Deloitte Technology; for its dedication to innovation, global market
growth, and customer focused value proposition.
The Company has its corporate office in Calgary, Canada, a business
office in Hong Kong, and a representative office in Beijing, China.
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:
President and Chief Executive Officer
1.866.975.6737 Toll Free
Ms. Anna Lentz
Chief Financial Officer
1.866.975.6737 Toll Free