Zecotek Provides Update for Zecotek Imaging China
April 05 2018 - 8:30AM
Zecotek Photonics Inc. (“
Zecotek”
or the “
Company”) (TSX-V:ZMS) (Frankfurt:W1I)
(OTCPK:ZMSPF), a developer of leading-edge photonics technologies
for healthcare, industrial and scientific markets,
is pleased to announce that its new subsidiary,
Zecotek Imaging China Ltd., has completed the necessary
regulatory steps and has establish an office in
the Shanghai Technology Zone. The $5 million raised by selling
an equity stake in the company based on a $75 million valuation,
previously announced on January 31, 2018, has now been released to
the new company and is available for deployment.
“We are very pleased to announce the official opening of our new
office for Zecotek Imaging China,” said Dr. A.F. Zerrouk, Chairman,
President, and CEO of Zecotek Photonics Inc. “We will now move
forward to install our own production facilities for our patented
LFS scintillation crystals. It is very important for our Company to
gain control over the cost of production to ensure consistency with
our customers and supply reliability. The initial focus of the new
production facility will be the Chinese and European medical
scanning markets.”
Zecotek’s LFS series of scintillation crystals are protected in
China and jurisdictions around globe by a worldwide patent
(including US patent No. 7,132,060). The crystals cover a wide
range of emission wavelengths which can be tailored to match the
spectral sensitivity of various photo detectors including Zecotek’s
own solid-state MAPD/T photo detector arrays. By using the
Czochralski method to manufacture LFS scintillation crystals,
Zecotek can grow very large-diameter boules with uniform properties
and without cracking (a problem with many competing scintillation
materials). Larger, higher quality boules, produce more single
elements resulting in greater output with lower unit
costs.
About ZecotekZecotek Photonics
Inc (TSX-V:ZMS) (Frankfurt:W1I) (OTCPK:ZMSPF) is a photonics
technology company developing high-performance scintillation
crystals, photo detectors, positron emission tomography scanning
technologies, 3D auto-stereoscopic displays, 3D metal printing, and
lasers for applications in medical, high-tech and industrial
sectors. Founded in 2004, Zecotek operates three divisions: Imaging
Systems, Optronics Systems and 3D Display Systems with labs located
in Canada, Korea, Russia, Singapore and U.S.A. The management team
is focused on building shareholder value by commercializing over 50
patented and patent pending novel photonic technologies directly
and through strategic alliances with Hamamatsu Photonics (Japan),
the European Organization for Nuclear Research (Switzerland),
Shanghai EBO Optoelectronics Technology Co. (China), NuCare Medical
Systems (South Korea), the University of Washington (United
States), and National NanoFab Center (South Korea). For more
information visit www.zecotek.com and follow @zecotek on
Twitter.
This press release may contain forward-looking statements that
are based on management’s expectations, estimates, projections and
assumptions. These statements are not guarantees of future
performance and involve certain risks and uncertainties, which are
difficult to predict. Therefore, actual future results and trends
may differ materially from what may have been stated.
For Additional Information Please
Contact:Zecotek Photonics Inc.Michael MinderT: (604)
783-8291ir@zecotek.com
Neither the TSX Venture Exchange nor its Regulation Service
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of the content of this news release. If you would like to
receive news from Zecotek in the future please visit the corporate
website at www.zecotek.com
Zecotek Photonics (TSXV:ZMS)
Historical Stock Chart
From Jun 2024 to Jul 2024
Zecotek Photonics (TSXV:ZMS)
Historical Stock Chart
From Jul 2023 to Jul 2024