ZTEST ANNOUNCES CLOSING OF EQUIPMENT FINANCING
NORTH YORK, May 4, 2009 - ZTEST Electronics Inc. ("ZTEST" or the "Corporation") (TSXVE - "ZTE") is pleased to announce that further to its press release of April 2, 2009, its operating subsidiary, Permatech Electronics Corp. ("Permatech"), has acquired production equipment comprised of surface mount assembly machinery including Siemens F5 and S27 SMT placement systems (the "Equipment"). The new Equipment has been installed and is fully operational.
The acquisition was funded pursuant to a Loan Agreement dated April 23, 2009. ZTEST issued 2 debentures secured against the Equipment in the amount of $997,500 at a blended interest rate of 8.8%. One of the lenders was granted an option to acquire 24% of Permatech from ZTEST for $200,000. ZTEST issued 2,800,000 bonus common shares to one of the lenders subject to resale restriction until September 2, 2009.
About ZTEST Electronics Inc.
For more information contact:
Ted Drzazga, CEO
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