ZTEST ELECTRONICS INC. ANNOUNCES PROPOSED PRIVATE PLACEMENT
MISSISSAUGA, December 21, 2000 - ZTEST Electronics Inc., YZT-CDNX, ZTSTF-OTC BB, ("ZTEST"), wishes to announce that it is in the process of negotiating several new private placements with arms-length parties for a total of $576,000. The private placees will subscribe for up to 1,200,000 Units of ZTEST. Each Unit of ZTEST consists of one (1) common share of ZTEST priced at $0.48 per share and one (1) share purchase warrant with each warrant entitling the holder to acquire one (1) additional common share of ZTEST at a price of $0.55 for a period of two (2) years following the closing of the transaction. The placements are expected to close upon the receipt of conditional approval from the Canadian Venture Exchange.
The funds from the private placements will be used for working capital.ZTEST offers Strategic Partner services in electronic design, development and manufacturing capabilities to emerging high tech companies in return for long-term manufacturing contracts, fees for services and equity positions.
The current outstanding capital of ZTEST is 21,537,834 common shares.
For further information, contact:
Mr. James E. Lalonde
This news release may include statements that constitute forward-looking statements. Please be cautioned that any such forward-looking statements are not guarantees of future performance and involve significant risks and uncertainties, and that actual results may vary materially from those in the forward-looking statements as a result of any number of factors, including risk factors contained in the Companys disclosure documents.
CDNX HAS NEITHER APPROVED OR DISAPPROVED OF THE CONTENTS OF THIS PRESS RELEASE.
- 30 -