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IDC ENTERS INTO CAD $3 MILLION STOCK PURCHASE GUARANTEE TERM SHEET
Jan. 26, 2011 (Canada NewsWire Group) -- CALGARY, Jan. 26 /CNW/ - Imaging Dynamics Company Lt...
About this update from Imaging Dynamics Company, Ltd.
[{"type":"text","content":"\n\n\n\n Jan. 26, 2011 (Canada NewsWire Group) -- \n\n#ReleaseContent TABLE\n{\n BORDER-COLLAPSE: collapse\n}\nTR.cnwUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 1px solid\n}\nTR.cnwDoubleUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 3px double\n}\nTR.cnwBoldUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 3px solid\n}\nTD.cnwUnderlinedCell\n{\n BORDER-BOTTOM: #000000 1px solid\n}\nTD.cnwDoubleUnderlinedCell\n{\n BORDER-BOTTOM: #000000 3px double\n}\nTD.cnwBoldUnderlinedCell\n{\n BORDER-BOTTOM: #000000 3px solid\n}\n#ReleaseContent TABLE.cnwBorderedTable TD\n{\n BORDER-RIGHT: black 1px solid;\n PADDING-RIGHT: 2px;\n BORDER-TOP: black 1px solid;\n PADDING-LEFT: 2px;\n PADDING-BOTTOM: 2px;\n BORDER-LEFT: black 1px solid;\n PADDING-TOP: 2px;\n BORDER-BOTTOM: black 1px solid;\n BORDER-COLLAPSE: collapse\n}\n#ReleaseContent TABLE TD\n{\n PADDING-RIGHT: 2px;\n PADDING-LEFT: 2px;\n PADDING-BOTTOM: 2px;\n PADDING-TOP: 2px\n}\n\n\nCALGARY, Jan. 26 /CNW/ - Imaging Dynamics Company Ltd. ("IDC" or the\n "Company") (TSX: IDL) a global leader in the high growth digital\n radiography (DR) equipment market, today announced that it has signed a\n non-binding term sheet for a Stock Purchase Guarantee ("SPG") with\n Ocean Global Fund SPC ("OGF") whereby IDC would have an option, subject\n to certain trading liquidity conditions and at its sole discretion, to\n issue and sell up to CAD $3 million of its common shares to OGF. The\n term sheet is non-binding and the final binding SPG contract is being\n negotiated and it is expected to be finalized by February 10, 2011;\n which is subject to completion of due diligence to the satisfaction of\n both parties.\n\n\nThe SPG will not prevent IDC from exploring and entering into other\n potential financing agreements. Once the final binding SPG contract is\n signed, details of material terms and conditions will be disclosed.\n\n\nSwapan Kakumanu, President and Chief Executive Officer of IDC stated,\n "We have started 2011 cautiously optimistic and are receiving positive\n feedback from our global distribution channel indicating there could be\n more purchase decisions made during 2011." Kakumanu continued, "This\n SPG will provide IDC with the necessary working capital, and allow for\n flexible draws as needed at its discretion, thus putting the Company ...