IMAX receives anticipated NASDAQ Staff Determination letter in connection with delayed filing

    TORONTO, April 9 /CNW/ - IMAX Corporation (NASDAQ:  IMAX; TSX:IMX)
announced today that, as expected, it received a NASDAQ Staff Determination
letter on April 3, 2007 indicating that the Company was not in compliance with
Marketplace Rule 4310(c)(14), which requires timely filing of periodic reports
with the Securities and Exchange Commission for continued listing of the
Company's common shares, and that Company's common shares are subject to
delisting from The NASDAQ Global Market. The Company understands that the
letter was issued in accordance with NASDAQ's standard procedures as a result
of the delay in filing of the Company's annual report on Form 10-K for fiscal
    The Company has requested a hearing before a NASDAQ Listing
Qualifications Panel to appeal the Staff Determination. The hearing request
has stayed the delisting of the Company's common shares pending the Panel's
decision, although there can be no assurance that the Panel will ultimately
grant the Company's request for continued listing.
    The Company previously announced that it would delay the filing of its
annual report on Form 10-K for fiscal 2006 due to the discovery of certain
accounting errors and has since broadened its accounting review to include
certain other accounting matters based on comments received by the Company
from the SEC and Ontario Securities Commission. The Company is currently
working diligently and devoting necessary resources to complete the report and
filing as soon as practicable.

    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

    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 outcome of
the accounting review and related matters discussed in this press release, 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, risks arising from potential material weaknesses in
internal control over financial reporting, 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,; Business Media: Sloane & Company,
New York, Whit Clay, (212) 446-1864,; Investors: Integrated
Corporate Relations, Amanda Mullin, (203) 682-8243,

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