July 30, 1999 - ZTEST Arranges Private Placement
TORONTO, ONTARIO--ZTEST Electronics Inc., ZTST - CDN, ("ZTEST") wishes to announce that it has arranged one private placement for $180,200 with an arm's-length party. The private placee will subscribe for 170,000 Units of the Corporation. Each unit of the Corporation consists of one (1) common share of the Corporation priced at $1.06 per share and eight-tenths (8/10ths) 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 $1.32 for a period of two (2) years following the closing of the transaction.
The funds received from this private placement will be 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.
The outstanding capital of ZTEST following the closing of this transaction will be 15,546,316 common shares.