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IDC ANNOUNCES COMPLETION OF RE-PRICING OF EXERCISE PRICE FOR SHARE PURCHASE WARRANTS

^{Published on 2011-05-19 06:41:06 - Market Wire}
 

CALGARY, May 19 /CNW/ - Imaging Dynamics Company Ltd. ("IDC" or the "Company") (TSX: IDL) - wishes to announce that it's application made on April 13, 2011 to the Toronto Stock Exchange ("TSX") for the re-pricing of 5,729,165 share purchase warrants (the "Re-priced Warrants") originally issued in connection with a non-brokered loan that closed on June 8, 2009 has since been approved by TSX. The original terms specified that each whole warrant was exercisable into one common share of IDC at a price of $0.12 per share expiring on June 8, 2012. The Company has received TSX approval and has now amended the warrant exercise price from $0.12 per share to $0.05 per share. None of the holders of the Re-Priced Warrants are insiders (as such term is defined in the Toronto Stock Exchange Company Manual) of IDC.

The Company had previously applied to the TSX for the re-pricing of the Re-Priced Warrants on November 5, 2010 (please see IDC's news release dated November 5, 2010 under the Company's profile on The System for Electronic Document Analysis and Retrieval (SEDAR) website at [ www.sedar.com ]) but the Company did not go forward with the re-pricing at that time as the Company had begun negotiating potential financing options after it has received conditional approval of the TSX for the re-pricing of the Re-priced Warrants.

About Imaging Dynamics Company (IDC):

IDC is a medical devices technology company and innovative force in the high growth field of digital radiography (DR) technology. IDC's product line of CCD-based X-Series direct capture technology replaces conventional film-based diagnostic imaging and provides a cost-effective alternative to flat panel (TFT) technology and computed radiography (CR) systems.

Each IDC DR solution provides high resolution radiographic images in the digital format required for today's PACS (Picture Archiving & Communication Systems) and the growing requirements for the electronic health record, all without the use of film, environmentally unfriendly chemicals, cassettes or expensive imaging plates.

Throughout its history, IDC has been recognized by multiple industry organizations and research analysts such as: Frost & Sullivan, Deloitte Technology and PROFIT; for its consistent dedication to innovation, global growth, and customer focused value proposition.

IDC is based in Calgary, Alberta, Canada.    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.