IDC Shareholders Reject Sale of its Broadcast Assets to Pico Digital

Ottawa, Cananda, June 13, 2015-- During  International Datacasting Corporation's (TSX:IDC) annual general and special meeting of shareholders held on June 12, 2015, its shareholders rjected a proposed sale of the company's broadcast assets to Pico Digital.

The meeting was well attended, with approximately 54% of shareholders in attendance or represented by proxy.

As a result of the defeat by shareholders of the special resolution related to the proposed sale of IDC's broadcast products business and its related assets to Pico Digital Inc., the transaction will not proceed. The Board of Directors of IDC expects that the Asset Purchase Agreement will be terminated by Pico Digital and that the bridge financing facility of US$1,000,000 and all accrued interest will become due and will have to be repaid to Pico Digital.

Management of IDC and the Board of Directors will be working to ensure that the required funds are available to repay IDC's obligations to Pico Digital. Concurrently, the Board of Directors will be reviewing possibilities for stabilizing IDC and ensuring it is able to continue as a going concern. It is likely that the Company will be required to raise additional debt or equity financing as part of this process. In connection with this review, the composition of the Board of Directors will be considered to ensure that management has the appropriate support it requires to meet the significant challenges that IDC faces and that shareholders have appropriate representation.

Chris Van Staveren, IDC's Chairman, stated, "With this vote, the shareholders have indicated their belief in the underlying value of IDC. We will respect the shareholders' decision, and in the coming weeks will create a new business plan for IDC. Part of this business plan will include raising new financing for the company, and one option is expected to be an equity or debt financing from existing shareholders."

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