IDC Issues Management Cease Trade Order

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(TheNewswire)



  

Calgary, Alberta – TheNewswire - June 17, 2020 - Imaging Dynamics Company Ltd. ("IDC" or the "Company") (TSXV:IDL) announces that its principal regulator, the Alberta Securities Commission, has accepted the Company's application for, and has granted, a management cease trade order (the "MCTO"). The application for the MCTO was made by the Company due to a delay in the filing of its audited annual financial statements for the fiscal year ended December 31, 2019 and the related management’s discussion and analysis for the year ended December 31, 2019 and 2020 Q1 Report.

The Company is actively working with its auditors to file the 2019 Annual Financial Statements, which the Company expects to be completed imminently.

 

During the period in which the MCTO is effective, the general investing public, who are not insiders of the Company, will continue to be able to trade in the Company's listed common shares. However, the Company's CEO and CFO will not be able to trade the Company's shares until such time as the Annual Filings have been filed by the Company and the MCTO has been lifted.

IDC's board of directors and its management confirm that they are working expeditiously to meet the Company's obligations relating to the filing of the Annual Filings and 2019 Q1 report. At this time, the Company anticipates being able to complete the Annual Filings by July 15, 2020 and the 2019 Q1 report by Aug 15, 2020.

During the MCTO, the Company confirms that it will comply with the provisions of the alternative information guidelines set out in National Policy 12-203 - Cease Trade Orders for Continuous Disclosure Defaults for as long as it remains in default, including the issuance of bi-weekly default status reports, each of which will be issued in the form of a news release.

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:
Mr. Paul Lin                                               

Chief Executive Officer

Email: [email protected]

1.403.769.1294 Office                                       
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 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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