NORTH YORK, ON / ACCESSWIRE / April 5, 2024 / ZTEST Electronics Inc. ("ZTEST" or the "Company") (CSE:ZTE) is pleased to announce that, due to significant demand, the Company has increased the size of its previously announced non-brokered private placement from $500,000 to $1,250,000. The increased offering will consist of up to 5,000,000 working capital units (the "WC Units") of the Company at a price of $0.25 per WC Unit for up to $1,250,000 to provide the Company with working capital (the "Offering").
Each WC Unit consists of one (1) common share of the Company priced at $0.25 per common share and one-half (0.5) of a common share purchase warrant. Each full warrant (a "WC Warrant") entitles the holder to acquire one (1) common share until eighteen (18) months from the closing of the Offering at a price of $0.30.
Eligible finders will be entitled to receive a fee of 7% cash and compensation options ("Compensation Options") equal to 7% of the number of WC Units sold under the Offering. Each Compensation Option entitles the holder to acquire a common share at $0.25 for eighteen (18) months from closing.
All securities to be issued pursuant to the Offering will be subject to a statutory four month and one day hold period.
About ZTEST Electronics Inc.
ZTEST Electronics Inc., through its wholly owned subsidiary Permatech Electronics Corp. ("Permatech"), offers Electronic Manufacturing Services (EMS) to a wide range of customers. Permatech's offering includes Materials Management, Printed Circuit Board (PCB) Assembly and Testing services. Permatech operates from a 20,000 square foot, ISO 9001:2015 certified facility in North York, Ontario, Canada. Permatech is a contract manufacturer of complex circuit boards, serving customers in the Medical, Power, Computer, Telecommunications, Wireless, Industrial, Trucking, Wearables and Consumer Electronics markets. It specializes in servicing customers who are looking for high yield and require high quality and rapid-turnaround on low and mid-volume production of high complexity products.
For more information contact:
Steve Smith, CEO
(604) 837-3751
email: stevesmith15@shaw.ca
The CSE has neither approved nor disapproved the contents of this press release. The CSE does not accept responsibility for the adequacy or accuracy of this release.
FORWARD LOOKING STATEMENTS:This press release contains forward-looking statements, which relate to future events or future performance and reflect management's current expectations and assumptions. Such forward-looking statements reflect management's current beliefs and are based on assumptions made by and information currently available to the Company. Investors are cautioned that these forward-looking statements are neither promises nor guarantees and are subject to risks and uncertainties that may cause future results to differ materially from those expected. These forward-looking statements are made as of the date hereof and, except as required under applicable securities legislation, the Company does not assume any obligation to update or revise them to reflect new events or circumstances. All of the forward-looking statements made in this press release are qualified by these cautionary statements and by those made in our filings with SEDAR in Canada (available at www.sedarplus.com).
SOURCE: ZTEST Electronics Inc.
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