Zecotek Announces Non-Brokered Private Placement
March 27 2013 - 7:59PM
Access Wire
Singapore, March 27, 2013 - Zecotek Photonics Inc. (TSX-V: ZMS;
Frankfurt: W1I), a developer of leading-edge photonics technologies
for medical, industrial and scientific markets, today announced
that the Company has arranged for a non-brokered private placement
of 3,611,111 units of the Company at a price of $0.36 per unit for
gross proceeds of $1,300,000.
Each unit consists of one common share and one-half of one
common share purchase warrant. Each whole warrant entitles the
holder to acquire one common share at an exercise price of $0.50
per common share at any time on or before the 24-month anniversary
of the closing of the offering. The Warrant's exercise period will
automatically accelerate if the common shares of the Company trade
above $1.00 for a period of 10 consecutive trading days.
Net proceeds from the funds raised will be used to complete
licensing agreements and technology transfer for commercialization,
to build and maintain patents of the Company's IP portfolio and for
general working capital purposes. Pursuant to the financing, the
Company may pay a finder's fee. All shares and warrants are subject
to a four-month hold period.
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About Zecotek
Zecotek Photonics Inc (TSX-V: ZMS; Frankfurt: W1I) is a
photonics technology company developing high-performance
scintillation crystals, photo detectors, positron emission
tomography scanner technologies, 3D auto-stereoscopic displays,
fiber lasers and waveguide micro lasers for applications in
medical, high-tech and industrial sectors. Founded in 2003, Zecotek
operates three divisional companies: Zecotek Imaging (medical,
industrial and research), Zecotek Lasers (industrial and research)
and Zecotek 3D (monitors for multimedia, entertainment, industrial
and medical). The Company has labs located in Canada, Singapore and
Russia, with affiliated R&D and production facilities in USA,
China, and South Korea. Zecotek commercializes its novel, patented
and patent-pending photonic technologies directly and through
strategic alliances with multinational OEMs, distributors and other
industry leaders. For more information, visit www.zecotek.com.
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 Minder T: (604)| |
|783-8291 ir@zecotek.com| |
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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.
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