ZTEST ANNOUNCES EQUIPMENT FINANCING
NORTH YORK, April 2, 2009 - ZTEST Electronics Inc. ("ZTEST" or the "Corporation") (TSXVE - "ZTE") wishes to announce that it has signed a Term Sheet to obtain a $997,500 loan from two arm's length lenders. The proceeds from the loan will be used for the acquisition of production equipment (the "Equipment") to be installed at Permatech Electronics Corp. ("Permatech"). ZTEST will issue two (2) debentures secured against the Equipment repayable on standard commercial terms. As part of the transaction, ZTEST has agreed to grant to one of the lenders an option to acquire 24% of Permatech from ZTEST for $200,000. ZTEST will issue 2,800,000 bonus common shares to one of the lenders as consideration for the loan, subject to regulatory approval. This transaction is scheduled to close on May 1, 2009.
The acquisition of the Equipment, comprised of surface mount assembly machinery including Siemens F5 and S27 SMT placement systems, will significantly increase Permatech's production capacity. "With this addition to our production capabilities, we will be able to enter market segments and to service customers previously not accessible to us" commented Mr. John Perreault, President of Permatech.
About ZTEST Electronics Inc.
For more information contact:
Ted Drzazga, CEO
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