International Datacasting Corporation
TSX : IDC

International Datacasting Corporation

November 15, 2007 08:22 ET

International Datacasting Corporation Prices $10 Million Treasury Prospectus Offering

OTTAWA, ONTARIO--(Marketwire - Nov. 15, 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 entered into an underwriting agreement (the "Underwriting Agreement") with a syndicate led by Wellington West Capital Markets Inc. and including Canaccord Capital Corporation and MGI Securities Inc. (collectively, the "Underwriters") in respect of an offering of its common shares in all the provinces across Canada, other than Quebec (the "Offering") Under the terms of the Underwriting Agreement, the Underwriters will purchase 12,500,000 common shares at a price of $0.80 per common share for gross proceeds of Cdn. $10 million.

The Underwriters have been granted an over-allotment option for a period of 30 days following the closing of the Offering to purchase up to an additional 1,875,000 common shares at the issue price, for additional gross proceeds of up to Cdn. $1.5 million. The Company anticipates filing a final short form prospectus on or about November 15, 2007.

As previously announced, the Company's present intent is to use the net proceeds from the 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 22, 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
    Chief Financial Officer
    (613) 596-4120 x 2249
    Email: sparsons@datacast.com