April 2, 2002 - ZTEST ANNOUNCES COMPLETION OF DEBT SETTLEMENTS
NORTH YORK, April 2, 2002 - Further to its press release dated February 28, 2002, ZTEST Electronics Inc. ("ZTEST" or the "Corporation") (CDNX - "YZT") wishes to announce that it has settled a total of $91,106 of outstanding bona fide debt on the issuance of 379,607 common shares priced at $0.24 per share with three arm's-length creditors. The shares issued will be legended and restricted from trading until March 28, 2003.
ZTEST also wishes to announce that it has renewed its Investor Relations contract with Alphus Inc. for a further period of 12 months commencing April 1, 2002. Alphus Inc. will receive a fee of $2,500 a month and is to be granted 120,000 stock options exercisable at $0.21 per share for a period of three years.
For more information contact Investor Relations:
Flora Wood and Philip Williams
The Canadian Venture Exchange has neither approved nor disapproved of the contents of this press release.