Posted on May 31, 2016
Ottawa, ON – May 30, 2016 – International Datacasting Corporation (“IDC”) (TSX-V: IDC) announced the results of its Special Meeting of Shareholders (the “Meeting”) held today. The Meeting was well attended with approximately 53% ofshareholders in attendance or represented by proxy.
At this Meeting, IDC shareholders approved the special resolution for the merger of IDC with Novra Technologies, Inc. (“Novra”) as previously announced on April 19, 2016.
Steven Archambault, Interim CEO and CFO of IDC, commented, “This is excellent news for our employees and customers. I am very pleased with our shareholders’ strong, unified vote of confidence to proceed with this merger and become shareholders of Novra with over 40% ownership of the combined company on a fully diluted basis. With this merger, IDC and Novra are ideally positioned to continue down the path of innovation and market leadership in multimedia content distribution, serving world-class global customers including radio and television broadcasters, digital cinema, IPTV, data networks and other leading-edge applications.”
IDC expects to receive approval from the TSX-V this week and close the merger transaction with Novra shortly thereafter. Accordingly, IDC’s common stock will remain halted during this period and will be delisted shortly after the consummation of the merger.
About International Datacasting Corporation:
International Datacasting Corporation (TSX-V: IDC) is a technology provider for the world’s premiere broadcasters in radio, television, data and digital cinema. IDC’s products and solutions are in demand for radio and television networks, targeted ad insertion, digital cinema, 3D live events, VOD and IPTV. IDC is headquartered in Ottawa, Canada, has installations in over 100 countries and a strong world-wide network of value-added partners and distributors. For more information, visit: www.datacast.com.
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Interim CEO & CFO
International Datacasting Corporation
+1 613 596 4120 Ext. 2296