|IMAGING DYNAMICS COMPANY ANNOUNCES PRIVATE PLACEMENT|
IMAGING DYNAMICS COMPANY ANNOUNCES PRIVATE PLACEMENT
Calgary, Canada – August 7, 2013 – Imaging Dynamics Company Ltd. (“IDC” or the “Company”) (TSX:IDL), a global leader in the high growth medical imaging technology and digital radiography (DR) equipment market, today announced results from its Annual and Special Meeting of Shareholders held in Calgary, Alberta on August 6, 2013 (the “Meeting”).
The Company received Shareholder approval for the previously announced non-brokered private placement of 300,000,000 common shares in the capital of the Company (a “Common Share”) with Kangda International Medical Canada Company Ltd. (“Kangda Canada”) at a price of $0.0046 per Common Share for gross proceeds of $1,380,000 (the “Private Placement”). The Private Placement will coincide with a sale by Belfry Medical Holdings Ltd. of 200,000,000 Common Shares to Kangda Canada at the same price per share as the Private Placement.
Proceeds from this Private Placement will be used for general working capital and corporate purposes. The Common Shares issued in connection with the Private Placement will be subject to a four month hold period from the date of issuance in accordance with applicable securities law.
The Company also received Shareholder approval for the following Board appointments effective immediately: Fan Hong, Alfred Yu, Qiang Jin Liu, Paul Lin and Steve Delaney. Mr. Ting Tsuen Lee and Dr. Sidong Huang have been reappointed. Mr. Lee will continue as a Director, Chairman and Chief Executive Officer of the Company until the closing of the Private Placement, at which time he will be retiring as an officer and director.
About Imaging Dynamics Company (IDC):
The Company has over 3,000 installations in 50 countries of its proprietary, award winning direct capture DR technology, which replaces conventional film-based diagnostic imaging and provides a cost-effective solution for medical facilities of all sizes to provide high quality diagnostic X-ray images and improve the level of healthcare for their patients.
Throughout its history, IDC has been recognized by multiple industry organizations and research analysts such as: Frost & Sullivan and Deloitte Technology; for its dedication to innovation, global market growth, and customer focused value proposition.
The Company has its corporate office in Calgary, Canada, a business office in Hong Kong, and a representative office in Beijing, China.
Visit the IDC web site: www.imagingdynamics.com
For more information, please contact:
1.866.975.6737 Toll Free
Mr. Eugene Woychyshyn
Chief Financial Officer
1.866.975.6737 Toll Free
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