Feb. 17, 2011 (Canada NewsWire Group) --
CALGARY, Feb. 17 /CNW/ - Imaging Dynamics Company Ltd. ("IDC" or the "Company") (TSX: IDL) a global leader in the high growth digital radiography (DR) equipment market, today announced a non-brokered private placement of a maximum of 22,000,000 units ("Units") at a price of $0.04 per Unit for proceeds of up to $880,000 (the "Private Placement"). Each Unit shall consist of one common share in the Capital of the Corporation (a "Common Share") and one-half of one Common Share purchase warrant at $0.05 (each whole warrant, a "Warrant").
Proceeds from the private placement will be used for general working capital purposes. The Private Placement will be subject to approval by the Toronto Stock Exchange.
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 solution for producing high quality diagnostic images, enhancing patient care and improving workflow.
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.
Contact:
Mr. Swapan Kakumanu
President & Chief Executive Officer
1.403.251.9939
skakumanu@imagingdynamics.com