|IDC Special Meeting - Share Consolidation and New Director March 1 2016|
IDC APPROVES SHARE CONSOLIDATION AND ANNOUNCES THE APPOINTMENT OF A NEW DIRECTOR TO THE BOARD OF DIRECTORS
Calgary, Alberta, March 1, 2016 - Imaging Dynamics Company Ltd. ("IDC" or the "Company") (TSXV:IDL) is pleased to announce that at its Special Meeting on February 29, 2016 that the shareholders have approved the Board of Directors to effect, in its discretion, a consolidation (or reverse stock split) of the outstanding Common Shares (the “Share Consolidation”), at a consolidation ratio of one (1) for five (5), (being one (1) post-consolidation common share for every five (5) pre-consolidation common shares), by filing Articles of Amendment to IDC's Articles of Incorporation, to be implemented by the Corporation’s Board of Directors, at any time prior to March 31, 2017. The Share Consolidation remains subject to receipt of all necessary regulatory approvals, including approval of the Toronto Stock Exchange Venture Exchange (the “TSXV”).
IDC is also pleased to announce that the Board of Directors has appointed Mr. Tim Seung as a Director to the Board of Directors. Mr. Seung is a Canadian with executive and investment experience in the health care and real estate industries.
About Imaging Dynamics Company (IDC):
IDC is a global medical imaging technology provider and innovative force in the high growth field of digital radiography (DR) technology.
The Company has over 4,000 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 representative office in Beijing, China, and also an operations and R&D center in Shanghai, China.
Visit the IDC web site: www.imagingdynamics.com
For more information, please contact:
Assistant Corporate Secretary
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.
Neither TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release.