Imaging Dynamics Company Ltd. Establishes Credit Facility and Closes Private Placement of Warrants


    CALGARY, June 9 /CNW/ - Imaging Dynamics Company Ltd. ("IDC" or the
"Corporation") (TSX: IDL) is pleased to announce the establishment of credit
facility (the "Credit Facility") in the aggregate amount of $1,000,000 with a
group of private investors (the "Lenders") effective on June 8, 2009 (the
"Closing Date"). In connection with the establishment of the Credit Facility,
the Corporation issued an aggregate of 9,166,664 common share purchase
warrants (the "Warrants") to the Lenders. Each Warrant is exercisable into one
common share at an exercise price of $0.12 (the "Exercise Price") subject to
adjustment in certain events, at any time, on or before 4:30 p.m. (Calgary
time) on June 8, 2012 (the "Expiry Date"). A total of 8,333,333 Warrants are
placed in escrow and 8.333333 Warrants will be released from escrow to the
Lenders for every $1.00 drawn by the Corporation from the Credit Facility. Any
Warrants remaining in escrow after the Expiry Date shall be cancelled. As of
the Closing Date, IDC has not drawn down from the Credit Facility.
    Tom Boon, IDC's President and CEO, commenting on this announcement said,
"At the recent annual general meeting of the shareholders of IDC, it was
stated that IDC may require near term access to a moderate amount of working
capital in order to sustain its business. I am pleased that we have been able
to secure this $1 million credit facility from a group of existing investors
which demonstrates their continued confidence in IDC's technology, channels
and plans for near term profitable growth. With the newly restructured company
and the anticipated recovery in the market for healthcare technology, these
funds will give the company the ability to manage its obligations as we seek
to achieve a cash flow neutral operation as IDC's revenues continue to grow."

    This news release does not constitute an offer to sell, or the
solicitation of an offer to buy, the securities 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 securities 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 securities 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 therefrom.

    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 line
of direct capture technology replaces conventional film-based image capture
and provides a cost-effective alternative to cassette based 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. IDC received the 2007 Frost & Sullivan Technology
Innovation Award and the 2008 PROFIT 100 ranking as one of Canada's
fastest-growing companies. IDC was also recognized by the 2008 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

For further information:

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

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