EXHIBIT 99.1
[IMAX LOGO]
IMAX CORPORATION
2525 Speakman Drive
Mississauga, Ontario, Canada L5K 1B1
Tel: (905)403-6500 Fax: (905)403-6450
www.imax.com
IMAX ANNOUNCES PLAN TO REFINANCE ALL OUTSTANDING DEBT
Toronto, Canada - November 10, 2003 - IMAX Corporation (Nasdaq:IMAX; TSX:IMX)
today announced that it plans to refinance all of its outstanding debt through
an offering of new senior notes with a proposed maturity of 2010. The proposed
offering would complete the Company's initiative, begun in 2001, of addressing
the repayment of its 7 7/8% senior notes due December 2005, of which $153
million in principal remains outstanding.
The notes have not been, and will not be registered under the U.S. Securities
Act of 1933 or any state securities laws, and may not be offered or sold in the
United States absent registration or an applicable exemption from the
registration requirements.
This press release contains forward looking statements that are based on
management 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. Some of these
risks and uncertainties are discussed in the Company's Annual Report on Form
10-K for the year ended December 31, 2002 and in the subsequent reports filed by
the Company with the Securities and Exchange Commission.
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For additional information please contact:
MEDIA: ANALYSTS:
IMAX CORPORATION, New York IMAX CORPORATION, New York
Romi Schutzer JENNIFER GERY
212-821-0144 212-821-0144
rschutzer@imax.com jgery@imax.com
ENTERTAINMENT MEDIA: BUSINESS MEDIA:
Newman & Company, Los Angeles Sloane & Company, New York
Al Newman WHIT CLAY
818-784-2130 212-446-1864
asn@newman-co.com wclay@sloanepr.com