Imaging Dynamics Company Announces Private Placement

 CALGARY, Feb. 19, 2013 /CNW/ - Imaging Dynamics Company, Ltd. ("IDC" or the  "Company") (TSX: IDL), a global leader in the high growth medical imaging  technology and digital radiography (DR) equipment market, today announced that  it has executed a term sheet with Kangda International Medical Canada Company,  Ltd. ("Kangda Canada"), providing for a non-brokered private placement of  138,000,000 common shares in the capital of the Company ("Common Shares") to  Kangda Canada, at a price of $0.01 per Common Share for gross proceeds of  $1,380,000 (the "Private Placement"). Proceeds of the Private Placement will  be used for general working capital and corporate purposes. The parties  propose to have representatives of Kangda Canada appointed to the Board of  Directors of the Company.  The Common Shares to be issued under the Private Placement will be subject to  resale restrictions during the four months following the date of issuance in  accordance with applicable securities law. The Private Placement will also be  subject to certain conditions including the approval of the Toronto Stock  Exchange ("TSX"), any required security holder approval and execution by the  Company and Kangda Canada of a subscription agreement satisfactory to Kangda  Canada and containing standard terms and conditions. A further announcement  will be made in connection with the progress of the Private Placement.  The current total outstanding Common Shares of the Company are 608,441,782 as  at February 15, 2013. Subsequent to the closing of the Private Placement and  upon issuance of the 138,000,000 Common Shares, Kangda Canada will own 18.5%  of the Outstanding Common Shares of the Company.  Mr. T.T. Lee, Chairman and Chief Executive Officer from IDC commented on the  Private Placement, "I am extremely pleased to have Kangda Canada invest in the  Company at such a key point in our business restructuring."  Additionally, the Company announces the departure of Mr. Donald Brown and Mr.  Earl Lande as Directors for the Company.  The Company continues to develop new financial and business plans and expects  to make further announcements.  About Imaging Dynamics Company (IDC):  IDC is a global medical imaging technology provider and innovative force in  the high growth field of digital radiography (DR) technology.  The Company has over 3,000 installations in 50 countries of its proprietary,  award winning direct capture DR technology, 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 and improve the level of healthcare for their patients.  Throughout its history, IDC has been recognized by multiple industry  organizations and research analysts such as: Frost & Sullivan and Deloitte  Technology; for its dedication to innovation, global market growth, and  customer focused value proposition.  The Company has its corporate office in Calgary, Canada, a business office in  Hong Kong, and a representative office in Beijing, China.  Visit the IDC web site:  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.   Mr. T.T. Lee Chairman and Chief Executive Officer  1.403.251.9939 Office 1.866.975.6737 Toll Free  Ms. Anna Lentz Chief Financial Officer  1.403.251.9939 Office 1.866.975.6737 Toll Free  SOURCE: Imaging Dynamics Company Ltd.  To view this news release in HTML formatting, please use the following URL:  CO: Imaging Dynamics Company Ltd. ST: Alberta NI: HEA PVT  
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