International Datacasting Corporation Announces Closing of Private Placement

OTTAWA, ONTARIO--(Marketwired - July 30, 2014) - International Datacasting Corporation ("IDC" or the "Corporation") (TSX:IDC), a global leader in digital content distribution solutions for the world's premiere broadcasters, today announced that the completion of its previously announced non-brokered private placement (the "Private Placement") of Common Shares for gross proceeds of $394,325. The proceeds of the Private Placement will be used to provide working capital to fund IDC's operations.

The subscribers include Christopher Van Staveren (a director and the Chairman of the Board), Eric Apps (a director), David Charron (a director), David Smith (a director), Doug Lowther (a director and President and Chief Executive Officer), Chris Barrett (Vice-President, Engineering and Operations), Steven Archambault (Chief Financial Officer), Steeve Huin (Vice-President, Products and Services) and Gary Carter (Vice-President and Chief Technology Officer), who purchased an aggregate of approximately $299,000 worth of Common Shares pursuant to the Private Placement. The remaining approximately $95,000 worth of Common Shares issued pursuant to the Private Placement was issued to subscribers who are employees of the Corporation and one additional individual who will be joining the Corporation as an employee in the near term.

4,281,487 Common Shares were issued pursuant to the Private Placement at a price of $0.0921, being the five day volume weighted average (VWAP) of the Common Shares determined as of July 15, 2014 (the day IDC applied to the Toronto Stock Exchange for conditional approval of the Private Placement).

Each of Messrs. Van Staveren, Apps, Charron, Smith, Lowther, Barrett, Archambault, Huin and Carter are "related parties" of IDC for the purposes of Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions ("MI 61-101"). Other than improving IDC's working capital position and increasing the number of Common Shares held by directors, officers and employees, the Private Placement is not expected to have any effect on IDC's business and affairs. The Private Placement is exempt from the formal valuation and minority shareholder approval requirements of MI 61-101 since the up to $299,000 worth of Common Shares to be issued to related parties did not exceed 25% of IDC's market capitalization at the time the related parties agreed to participate in the Private Placement.