$10M raised

Satellite product maker International Datacasting Corp. successfully raises $10 million in a short-form public offering of 12.5 million common shares announced earlier this month. The Ottawa company says it will put the net proceeds into marketing efforts,IDC.JPG developing new Internet protocol television and other products, and for potential future acquisitions. “Our efforts at growing the business have positioned us well to attract this expansion and working capital,” says CEO Ron Clifton. “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.” The offering was led by underwriters Wellington West Capital Markets Inc. and included Canaccord Capital Corp. and MGI Securities Inc.

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