Imaging Dynamics announces rights offering

Jun 5 2010

Imaging Dynamics Company Ltd. (IDC) (TSX: IDL), a global supplier in the high growth digital radiography (DR) equipment market, announced that it has filed a preliminary short form prospectus dated June 3, 2010 to issue rights to all shareholders at the applicable record date to purchase common shares of the Company.

The rights and the common shares issuable on the exercise of the rights will be qualified by the prospectus. The rights will trade for a period of at least 21 days to allow shareholders who do not wish to exercise their rights an opportunity to sell such rights. Shareholders will be allowed to subscribe for as many common shares as they wish in order to participate in a pro-rate allocation of common shares issuable on rights not otherwise exercised. The Company anticipates that the rights offering will be closed by July 15, 2010.

The Company intends to use the net proceeds from the rights offering to provide working capital, new product introductions and for general corporate purposes. Completion of the rights offering is subject to receipt of applicable regulatory approvals and consents.