Business
Imaging Dynamics Company Ltd. Closes Over-Allotment Option
/NOT FOR DISTRIBUTION IN THE UNITED STATES OR TO U.S. NEWSWIRE SERVICES/ CALGARY, June 13 /CNW/ -...
About this update from Imaging Dynamics Company, Ltd.
[{"type":"text","content":"\n\n\n\n/NOT FOR DISTRIBUTION IN THE UNITED STATES OR TO U.S. NEWSWIRE SERVICES/\n\n\nCALGARY, June 13 /CNW/ - Imaging Dynamics Company Ltd. ("IDC" or the\n"Corporation") (TSX: IDL) is pleased to announce the closing of the issue of\nan additional 2,809,800 units (the "Units") at a price of $0.335 per Unit, for\ngross proceeds of $941,283, pursuant to the exercise by Paradigm Capital Inc.\nand Jennings Capital Inc. (collectively, the "Agents") of the over-allotment\noption (the "Over-allotment Option") granted by IDC to the Agents pursuant to\nthe terms of an agency agreement dated May 7, 2008 (the "Agency Agreement")\namong the Agents and IDC. The Over-allotment Option was granted to the Agents\nin connection with IDC's short form prospectus offering (the "Offering") of\n24,690,200 Units at a price of $0.335 per Unit, for gross proceeds of\n$8,271,217, which closed on May 14, 2008. The total gross proceeds raised\npursuant to the Offering and the exercise of the Over-Allotment Option were\n$9,212,500.\n\n\nEach Unit consists of one common share (a "Common Share") in the capital\nof the Corporation and one transferable Common Share purchase warrant (a\n"Warrant"). Each Warrant is exercisable into one Common Share at an exercise\nprice of $0.40 subject to adjustment in certain events, at any time on or\nbefore 4:30 p.m. (Calgary time) on May 14, 2009 and at an exercise price of\n$0.50 subject to adjustment in certain events, at any time from 4:30 p.m.\n(Calgary time) on May 14, 2009 until 4:30 p.m. (Calgary time) on May 14, 2010.\nThe Units will separate into Common Shares and Warrants immediately upon\nissue.\n\n\nThis news release does not constitute an offer to sell, or the\nsolicitation of an offer to buy, the Units in any jurisdiction, including the\nUnited States, or to, or for the account or benefit of, U.S. persons absent\nU.S. registration or an applicable exemption therefrom, nor shall there be any\nsale of the Units in any state in which such offer, solicitation or sale would\nbe unlawful prior to registration or qualification under the securities laws\nof any such state. The Units being offered will not be, and have not been,\nregistered under the United States Securities Act of 1933, as amended, and may\nnot be offered or sold w...