July 17, 2000 - ZTEST COMPLETES NINE PRIVATE PLACEMENTS
ZTEST Electronics Inc., ZTST - CDN, ("ZTEST") wishes to announce that it has completed nine private placements for a total of $1,689,600 with nine arm’s-length parties. The private placees subscribed for a total of 1,056,000 Units of the Corporation. Each Unit of the Corporation consists of one (1) common share of the Corporation priced at $1.60 per share and one-half (1/2) of a share purchase warrant with each full warrant entitling the holder to acquire one (1) additional common share of the Corporation at a price of $2.10 for two years from closing and $2.60 for a third year from closing.
The funds received from this private placement were applied to working capital.
ZTEST offers Strategic Partner services in electronic design, development and manufacturing to emerging high tech companies in return for long-term manufacturing contracts, fees for services and equity positions.
For further information, please contact Mr. James E. Lalonde, Manager, Corporate Development, at (905) 569-3344 or visit our website at http://www.ztest.com.
The outstanding capital of ZTEST including the shares issued pursuant to this private placement is 20,274,831 common shares.
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 Company’s disclosure documents.