April 13, 2006 - ZTEST ANNOUNCES PROPOSED PRIVATE PLACEMENT AND RESIGNATIONS OF DIRECTORS
NORTH YORK, April 13, 2006 - ZTEST Electronics Inc. ("ZTEST" or the "Corporation") (TSXVE - "ZTE") wishes to announce that it is seeking $1,440,000 in financing through the sale of units of the Corporation. Each unit will be priced at $0.16 and will be comprised of one (1) common share and one half (½) of a common share purchase warrant. Each full warrant entitles the holder to acquire a further common share at the price of $0.24 for a period of two (2) years from closing. The Corporation will pay a finder's fee of up to 6% of the value of the units in cash. The proceeds of the placement will be used for future acquisitions and working capital. Completion of this transaction is subject to the approval of the TSX Venture Exchange.
ZTEST also wishes to announce that William Brown and Cal Haverstock have tendered their resignation as directors of the Corporation. Mr. Brown's resignation is effective April 11, 2006 and Mr. Haverstock's is effective April 12, 2006. ZTEST wishes to thank Mr. Brown and Mr. Haverstock for their contributions to the Corporation and wishes them well in their future endeavours.
About ZTEST Electronics Inc.
ZTEST Electronics Inc., thru its wholly owned subsidiary Permatech Electronics Corp. ("Permatech"), offers Electronic Manufacturing Services (EMS) to a wide range of customers. Permatech's offering includes Materials Management, Printed Circuit Board (PCB) Assembly, Testing and Design services. Permatech operates from a 20,000 square foot, ISO 9001:2000 certified facility in North York, Ontario, Canada. The company serves customers in the Medical, Power, Computer, Telecommunication, Wireless, Industrial and Consumer Electronics markets requiring high quality, quick-turn, small and medium size production runs.
For more information contact:
Ted Drzazga, CEO
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.