[2] International Datacasting Corporation Announces Closing of Private Placement.Business Editors OTTAWA--(BUSINESS WIRE)--Mar. 16, 2000 International Datacasting Sending data in the vertical blanking interval (VBI) of TV broadcasts. For years, a variety of data has been datacasted to set-top boxes, including weather maps, stock data, games, music videos and V-Chip program ratings. Corporation (TSE See Tokyo Stock Exchange. TSE 1. See Tokyo Stock Exchange (TSE). 2. See Toronto Stock Exchange (TSE). :IDC.), an Ottawa-based high-tech company, announced today the closing of the first of two private placements announced on February 11, 2000. Under the terms of this agreement, IDC has obtained initial financing of CDN (Content Delivery Network) A system of distributed content on a large intranet or the public Internet in which copies of content are replicated and cached throughout the network. $1.5 million in exchange for special warrants priced at CDN$5.00 per special warrant. Each special warrant is exercisable, for no additional consideration, into one common share and one warrant. The agreement includes specific terms for future placements, exercised through the warrants priced at CDN$5 per warrant, for up to an additional CDN$1.5 million. This investment is the second by an existing shareholder who is a private NYC-based investor. He has holdings in a number of early stage international telecoms and Internet Internet Publicly accessible computer network connecting many smaller networks from around the world. It grew out of a U.S. Defense Department program called ARPANET (Advanced Research Projects Agency Network), established in 1969 with connections between computers at the ventures. IDC expects to close the second private placement for up to US$4 million shortly. About International Datacasting Corporation IDC (TSE:IDC) provides advanced systems and services for the broadband broadband Term describing the radiation from a source that produces a broad, continuous spectrum of frequencies (contrasted with a laser, which produces a single frequency or very narrow range of frequencies). satellite distribution of digital data in a variety of point-to-multipoint applications. With an existing base in 35 countries worldwide, IDC is at the forefront of delivering IP-based satellite datacasting solutions. Applications for IDC's products include high-speed Internet-via-satellite networks, corporate intranets, distance education networks, radio networks, business radio networks, weather networks, financial information and paging networks. IDC was recently called an "emerging satellite networking superstar" by Via Satellite magazine and had its SuperFlex Datacasting System named the "Most Innovative Data Solution for 1999" in Satellite Communications annual readers' poll. IDC is headquartered in Ottawa, Canada, has a US sales office in Atlanta, Georgia Georgia, country, Asia Georgia (jôr`jə), Georgian Sakartvelo, Rus. Gruziya, officially Republic of Georgia, republic (2005 est. pop. 4,677,000), c.26,900 sq mi (69,700 sq km), in W Transcaucasia. and markets internationally through an established network of partners and distributors. Visit IDC on the web at http://www.intldata.ca. Certain of the above statements regarding IDC constitute forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. , which may involve risks and uncertainties. A variety of factors could cause actual results to differ from the anticipated results expressed in such forward-looking statements. |
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