IMAX Corporation Closes Offering of Common Shares

NEW YORK, Aug. 17, 2009 (GLOBE NEWSWIRE) -- IMAX Corporation (Nasdaq:IMAX)
(TSX:IMX) announced today the closing of the public offering of 5,882,353 of its
common shares at a public offering price of $8.50 per share. Gross proceeds from
the offering were approximately $50 million. IMAX has granted the underwriter
the option to purchase up to an additional 882,353 common shares at the public
offering price, less the underwriting commission, within 30 days following
pricing.

IMAX intends to use the net proceeds from the offering for the repayment of
debt, including a portion of its 9 5/8% Senior Notes due December 2010. IMAX
intends to refinance the remainder of its existing indebtedness through cash
flow from operations and future debt financings.

Roth Capital Partners, LLC acted as the sole underwriter for the offering.

The common stock was offered pursuant to an effective registration statement
filed with the Securities and Exchange Commission. Offers and sales of the
common stock will be made only by the related prospectus and prospectus
supplement. Copies of the prospectus and prospectus supplement relating to this
offering may be obtained, when available, from Roth Capital Partners by e-mail
to rothecm@roth.com, by fax to (949) 720-7227 or by mail to 24 Corporate Plaza
Drive, Newport Beach, CA, 92660, Attention: Equity Capital Markets.

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). The IMAX brand is recognized
throughout the world for extraordinary and immersive entertainment experiences
for consumers. As of June 30, 2009, there were 394 IMAX theatres (273
commercial, 121 institutional) operating in 44 countries.

IMAX(R), IMAX(R) 3D, IMAX(R) DMR, The IMAX 3D Experience(R) and The IMAX
Experience(R) are trademarks of IMAX Corporation. More information about the
Company can be found at www.imax.com. You may also connect with IMAX on Facebook
(www.facebook.com/imax), Twitter (www.twitter.com/imaxnews) and YouTube
(www.youtube.com/imaxmovies).

The IMAX Corporation logo is available at
http://www.globenewswire.com/newsroom/prs/?pkgid=6469

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, but are not limited to,
general economic, market or business conditions, including the length and
severity of the current economic downturn, the opportunities that may be
presented to and pursued by the Company, the performance of IMAX DMR films,
conditions in the in-home and out-of home entertainment industries, the signing
of theatre system agreements, changes and developments in the commercial
exhibition industry, the failure to convert theatre system backlog into revenue,
investments and operations in foreign jurisdictions, foreign currency
fluctuations and the Company's prior restatements and the related litigation and
ongoing inquiries by the SEC and the OSC. 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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CONTACT: IMAX Corporation
Media:
Sarah Gormley
212-821-0155
sgormley@imax.com
Investors:
Heather Anthony
212-821-0121
hanthony@imax.com

Sloane & Company
Business Media:
Whit Clay
212-446-1864
wclay@sloanepr.com