International Datacasting Corporation
TSX : IDC

International Datacasting Corporation

October 23, 2007 14:06 ET

International Datacasting Corporation Announces Filing of Short Form Prospectus for Treasury and Secondary Offering

OTTAWA, ONTARIO--(Marketwire - Oct. 23, 2007) -

THIS NEWS RELEASE IS NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES.

Attn: Business/High-Tech Editors

International Datacasting Corporation (TSX:IDC) ("IDC" or the "Company") announced today that it has filed a preliminary short form prospectus with provincial securities regulators for a treasury and secondary offering of its common shares in all the provinces across Canada, other than Quebec (the "Offering"). The underwriting syndicate is being led by Wellington West Capital Markets Inc. and includes Canaccord Capital Corporation and MGI Securities Inc. The Offering will be comprised of a treasury offering by IDC and a secondary offering by GrowthWorks Canadian Fund Ltd. The pricing and other terms of the Offering, including the definitive number of shares to be offered, will be established upon the entering into of an underwriting agreement and the filing of a final short form prospectus.

The short form prospectus will also qualify the granting to the Underwriters of an over-allotment option by IDC, exercisable for a period of 30 days following closing of the Offering to purchase up to 15% of that number of common shares sold pursuant to the treasury offering at the issue price.

The Company's present intent is to use the net proceeds from the proposed treasury offering to strengthen the Company's balance sheet for general corporate purposes, including the ability to continue to fund its efforts to increase sales penetration, to develop the Company's next generation of IPTV and other video related products and related improvements to product performance, features and functionality, to engage in marketing efforts to further raise IDC's profile and to provide an available source of funding for potential future acquisition opportunities.

The Offering is subject to customary conditions including usual regulatory approvals, and is expected to be completed on or about November 6, 2007.

This press release is not an offering of securities for sale in the United States. The common shares have not been registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an exemption from the registration requirements of that Act.

About International Datacasting Corporation (IDC):

IDC (TSX:IDC) provides advanced products, systems and services for the implementation of broadband wireless infrastructure networks used to distribute broadband multimedia data. IDC is at the forefront of delivering IP-based datacasting solutions via satellite and content distribution technologies with installations in more than 100 countries worldwide. IDC's products are in demand for radio and television broadcast networks, enterprise networks, distance learning, digital signage and digital cinema, high-speed Internet infrastructure and other multimedia content distribution applications. IDC is a recipient of numerous awards including the prestigious Canada Export Award for Innovation and Technology Achievement. IDC is headquartered in Ottawa, Canada, operates in Europe through its wholly owned subsidiary PROFline B.V. in Arnhem, the Netherlands and has an established international network of value-added partners and distributors. Visit IDC on the web at www.datacast.com and www.profline.com.

This press release contains forward-looking statements that may involve risks and uncertainties. Actual results may differ materially. Factors that might cause a difference include, but are not limited to, competitive developments, risks associated with IDC's growth, the development of the satellite datacasting market, regulatory risks, intellectual property infringement and other factors. IDC assumes no obligation to update these forward-looking statements to reflect events or circumstances after the date hereof. More detailed information about potential factors that could affect IDC's financial and business results is included in the public documents IDC files from time to time with Canadian securities regulatory authorities.

THIS NEWS RELEASE SHALL NOT CONSTITUTE AN OFFER TO SELL OR THE SOLICITATION OF AN OFFER TO PURCHASE SECURITIES OF THE COMPANY IN ANY JURISDICTION.

Contact Information

  • International Datacasting Corporation
    Susan Robbins Parsons
    Marketing Communications
    (613) 596-4120 x 2249
    Email: sparsons@datacast.com