International Datacasting Corporation
TSX : IDC

International Datacasting Corporation

November 22, 2007 08:30 ET

International Datacasting Corporation Closes $10 Million Prospectus Offering

Attn: Business/High-Tech Editors

OTTAWA, ONTARIO--(Marketwire - Nov. 22, 2007) - THIS NEWS RELEASE IS NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

International Datacasting Corporation (TSX:IDC) ("IDC" or the "Company") announced today that it has closed its previously announced short form public offering of 12,500,000 common shares at a price of Cdn. $0.80 per common share for gross proceeds to the Company of Cdn. $10 million (the "Offering"). The Offering was underwritten by a syndicate that was led by Wellington West Capital Markets Inc. and included Canaccord Capital Corporation and MGI Securities Inc. (collectively, the "Underwriters").

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.

Ron Clifton, President and CEO of IDC commented: "This financing comes at an important and exciting time for the Company. Our efforts at growing the business have positioned us well to attract this expansion and working capital. I would like to thank our current shareholders for their support and welcome our new investors as we move forward into the next phase of the Company's evolution."

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.

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.

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