IMAX Corporation replaces previously expired shelf registration statement

IMAX Corporation replaces previously expired shelf registration statement

NEW YORK, Feb. 13 /PRNewswire-FirstCall/ -- IMAX Corporation (Nasdaq: IMAX; TSX: IMX) today announced that it has filed a universal shelf registration statement on Form S-3 with the Securities and Exchange Commission ("SEC"). This shelf registration replaces the Company's previous universal shelf registration which has expired. As with its previous shelf, this shelf registration statement, when declared effective by the SEC, would allow the Company to issue up to $250 million in securities, including debt securities, common stock, or warrants to purchase debt securities or common stock, or any combination of such securities, from time to time. The Company intends to use any proceeds from any offering to reduce its debt obligations.

Richard L. Gelfond and Bradley J. Wechsler, Co-Chairmen and Co-Chief Executive Officers commented, "IMAX has no immediate plans to use the shelf registration statement for any specific financing, but it has been the preferred policy of the Company to have this type of customary shelf registration in place. This filing gives IMAX maximum financial flexibility in order to take advantage of healthier market conditions in the future. The Company remains completely focused on the smooth roll-out of our IMAX digital systems, for which there are currently 55 in operation and on continuing to build our future movie slate."

The registration statement on Form S-3 filed with the SEC has not yet become effective. Securities may not be sold nor may offers to buy be accepted prior to the time that the registration statement becomes effective. This news release does not constitute an offer to sell, or the solicitation of an offer to buy securities, nor shall there be any sale of securities in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification of the securities under the securities laws of that state.

About IMAX Corporation

IMAX Corporation is one of the world's leading entertainment technology companies, specializing in immersive motion picture technologies. The worldwide IMAX network is among the most important and successful theatrical distribution platforms for major event Hollywood films around the globe, with IMAX(R) theatres delivering the world's best movie presentations using proprietary IMAX, IMAX(R) 3D, and IMAX DMR(R) technology. IMAX DMR is the Company's groundbreaking digital re-mastering technology that allows it to digitally transform virtually any conventional motion picture into the unparalleled image and sound quality of The IMAX Experience(R). IMAX's renowned projectors display crystal-clear images on the world's biggest screens, and the IMAX brand is recognized throughout the world for extraordinary and immersive entertainment experiences for consumers. As of September 30, 2008, there were 320 IMAX theatres operating in 42 countries.

IMAX(R), IMAX(R) 3D, IMAX DMR(R), and The IMAX Experience(R) are trademarks of IMAX Corporation. More information on the Company can be found at www.imax.com.

This press release contains forward looking statements that are based on management's assumptions and existing information and involve certain risks and uncertainties which could cause actual results to differ materially from future results expressed or implied by such forward looking statements. Important factors that could affect these statements include ongoing discussions with the SEC and OSC relating to their ongoing inquiries and the Company's accounting, the performance of films, the signing of theatre system agreements, the viability of new technologies, businesses and products, the timing of theatre system deliveries, the mix of theatre systems shipped, the timing of the recognition of revenues and expenses on film production and distribution agreements, risks arising from potential material weaknesses in internal control over financial reporting and fluctuations in foreign currency and in the large format, general commercial exhibition and out-of-home entertainment markets. These factors and other risks and uncertainties are discussed in the Company's most recent Annual Report on Form 10-K and most recent Quarterly Reports on Form 10-Q.

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Source: IMAX Corporation

CONTACT: Media: IMAX Corporation, New York, Sarah Gormley, (212)
821-0155, sgormley@imax.com; Entertainment Media: Rogers & Cowan, Los Angeles,
Jason Magner, (310) 854-8128, jmagner@rogersandcowan.com; Investors: IMAX
Corporation, New York, Heather Anthony, (212) 821-0121, hanthony@imax.com;
Business Media: Sloane & Company, New York, Whit Clay, (212) 446-1864,
wclay@sloanepr.com

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Profile: International Entertainment