IDC Announces Extension of Convertible Debentures

(TheNewswire)

Calgary, Alberta / TheNewswire / January 28, 2019 - Imaging Dynamics Company Ltd. ("IDC" or the "Company") (TSXV:IDL) has proposed to amend its existing convertible debentures (the “Debentures”) issued on September 23, 2015 with a maturity date of January 22, 2019 (the “Maturity Date”) to January 22, 2020 (the “New Maturity Date”).

The Company expects to enter into an agreement with the debenture holder to extend the CAD$6,250,000 Debentures maturity date by one year to January 22, 2020. All the remaining items in the Convertible Debenture Certificate remain unchanged.

The Debenture extensions are subject to regulatory and TSX Venture Exchange approval.

Convertible Debentures – Background Information

On or about September 23, 2015, Imaging Dynamics Company Ltd. completed a convertible debentures financing for the gross proceeds of CAD$6,250,000 in principal (the “first convertible debentures”).  The convertible debentures have an interest rate of 6.0% per year payable annually by the Corporation to the holder of the debentures and are convertible into common shares of the Company at the holder’s option at a conversion price of CAD$0.10 per common share on or before maturity date. The convertible debentures have a maturity date of January 22, 2019.

About Imaging Dynamics Company (IDC):

IDC is a global medical imaging technology provider and innovative force in the high technology growth field of digital radiography (DR). Digital Radiography is a form of X-ray imaging 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 with the use of Flat Panel detectors to enhance the digital image quality and improve the level of healthcare for their patients.

The Company has its corporate office in Calgary, Canada, a sales and marketing office in Beijing, China, and operations, research and development centres in Calgary, Canada and Shanghai, China.

 Visit the IDC web site:  www.imagingdynamics.com

For more information, please contact:
Ms. Rong Xue                                               

Chief Financial Officer                                                       
1.403.769.1294 Office                                       
1.866.975.6737 Toll Free                                       

[email protected]                               

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.

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