Imaging Dynamics Company Ltd. Closes Over-Allotment Option


    CALGARY, June 13 /CNW/ - Imaging Dynamics Company Ltd. ("IDC" or the
"Corporation") (TSX: IDL) is pleased to announce the closing of the issue of
an additional 2,809,800 units (the "Units") at a price of $0.335 per Unit, for
gross proceeds of $941,283, pursuant to the exercise by Paradigm Capital Inc.
and Jennings Capital Inc. (collectively, the "Agents") of the over-allotment
option (the "Over-allotment Option") granted by IDC to the Agents pursuant to
the terms of an agency agreement dated May 7, 2008 (the "Agency Agreement")
among the Agents and IDC. The Over-allotment Option was granted to the Agents
in connection with IDC's short form prospectus offering (the "Offering") of
24,690,200 Units at a price of $0.335 per Unit, for gross proceeds of
$8,271,217, which closed on May 14, 2008. The total gross proceeds raised
pursuant to the Offering and the exercise of the Over-Allotment Option were
    Each Unit consists of one common share (a "Common Share") in the capital
of the Corporation and one transferable Common Share purchase warrant (a
"Warrant"). Each Warrant is exercisable into one Common Share at an exercise
price of $0.40 subject to adjustment in certain events, at any time on or
before 4:30 p.m. (Calgary time) on May 14, 2009 and at an exercise price of
$0.50 subject to adjustment in certain events, at any time from 4:30 p.m.
(Calgary time) on May 14, 2009 until 4:30 p.m. (Calgary time) on May 14, 2010.
The Units will separate into Common Shares and Warrants immediately upon
    This news release does not constitute an offer to sell, or the
solicitation of an offer to buy, the Units in any jurisdiction, including the
United States, or to, or for the account or benefit of, U.S. persons absent
U.S. registration or an applicable exemption therefrom, nor shall there be any
sale of the Units in any state in which such offer, solicitation or sale would
be unlawful prior to registration or qualification under the securities laws
of any such state. The Units being offered will not be, and have not been,
registered under the United States Securities Act of 1933, as amended, and may
not be offered or sold within the United States or to, or for the account or
benefit of, a U.S. person, absent U.S. registration or an applicable exemption

    About IDC

    IDC is a medical technology company and innovative force in the
fast-growing field of digital radiography (DR) technology. IDC's X-Series of
direct capture technology replaces conventional film-based X-rays and provides
a cost-effective alternative to cassette based film or computed radiography
(CR) systems.
    Each IDC DR solution provides high resolution radiographic images in the
digital format required for today's electronic medical record networks, all
without the use of film, environmentally harmful chemicals, cassettes or
expensive imaging plates. In addition to its number one ranking for three
consecutive quarters for customer service by MD Buyline, IDC is the recipient
of the 2007 Frost & Sullivan Technology Innovation Award and is among the 2007
Deloitte Technology Fast 500, which ranks the fastest growing technology,
media, telecommunications and life sciences companies in North America.
    IDC is based in Calgary, Alberta, Canada.
    You may also visit the IDC Web site:

    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

    %SEDAR: 00007697E

For further information:

For further information: M. Thomas Boon, President and Chief Executive
Officer; Swapan Kakumanu, Chief Financial Officer, 1-866-975-6737,,

Organization Profile

Imaging Dynamics Company Ltd.

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