ZTEST Announces Closing of Over-Subscribed Non-Brokered Private Placement for $1.26 Million
ZTEST Electronics Inc. has closed an oversubscribed non-brokered private placement, raising $1.26 million by issuing 5,040,000 working capital units at $0.25 per unit. The placement includes common shares and warrants, with a finder's fee of $54,845 paid. Proceeds will be used for general working capital purposes. ZTEST Electronics Inc., operating through its subsidiary Permatech Electronics Corp., offers Electronic Manufacturing Services (EMS) specializing in complex circuit board production for various industries.
ZTEST Electronics Inc. successfully closed an oversubscribed non-brokered private placement, raising $1.26 million for general working capital purposes.
The company issued 5,040,000 working capital units at $0.25 per unit, demonstrating investor confidence in the business.
The placement includes common shares and warrants, providing flexibility and potential for future growth and expansion.
ZTEST Electronics Inc., through its subsidiary Permatech Electronics Corp., offers Electronic Manufacturing Services (EMS) to diverse industries, catering to high-quality, rapid-turnaround production needs.
The statutory hold period for all securities issued expires on September 9, 2024, potentially limiting immediate liquidity for investors.
A finder's fee of $54,845 was paid, increasing the overall cost of the private placement for the company.
NORTH YORK, ON / ACCESSWIRE / May 9, 2024 / ZTEST Electronics Inc. ("ZTEST" or the "Company") (CSE:ZTE) is pleased to announce that, further to its press release dated April 5, 2024, the Company has closed its non-brokered private placement with an oversubscription of
Each WC Unit consists of one (1) common share of the Company priced at
A finder's fee of
All securities issued pursuant to the Offering are subject to a statutory hold period expiring September 9, 2024.
Proceeds from the Offering will be used for general working capital purposes.
About ZTEST Electronics Inc.
ZTEST Electronics Inc., through 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 and Testing services. Permatech operates from a 20,000 square foot, ISO 9001:2015 certified facility in North York, Ontario, Canada. Permatech is a contract manufacturer of complex circuit boards, serving customers in the Medical, Power, Computer, Telecommunications, Wireless, Industrial, Trucking, Wearables and Consumer Electronics markets. It specializes in servicing customers who are looking for high yield and require high quality and rapid-turnaround on low and mid-volume production of high complexity products.
For more information contact:
Steve Smith, CEO
(604) 837-3751
email: stevesmith15@shaw.ca
The CSE has neither approved nor disapproved the contents of this press release. The CSE does not accept responsibility for the adequacy or accuracy of this release.
FORWARD LOOKING STATEMENTS: This press release contains forward-looking statements, which relate to future events or future performance and reflect management's current expectations and assumptions. Such forward-looking statements reflect management's current beliefs and are based on assumptions made by and information currently available to the Company. Investors are cautioned that these forward-looking statements are neither promises nor guarantees and are subject to risks and uncertainties that may cause future results to differ materially from those expected. These forward-looking statements are made as of the date hereof and, except as required under applicable securities legislation, the Company does not assume any obligation to update or revise them to reflect new events or circumstances. All of the forward-looking statements made in this press release are qualified by these cautionary statements and by those made in our filings with SEDAR in Canada (available at www.sedarplus.com).
SOURCE: ZTEST Electronics Inc.
View the original press release on accesswire.com
FAQ
How much did ZTEST Electronics Inc. raise in the recent private placement?
ZTEST Electronics Inc. raised $1.26 million in the recent oversubscribed non-brokered private placement.
What are the details of the working capital units issued by ZTEST Electronics Inc.?
ZTEST Electronics Inc. issued 5,040,000 working capital units at $0.25 per unit, comprising common shares and warrants.
What is the purpose of the proceeds from the private placement?
The proceeds from the private placement will be used for general working capital purposes by ZTEST Electronics Inc.
What services does Permatech Electronics Corp. offer through ZTEST Electronics Inc.?
Permatech Electronics Corp., a subsidiary of ZTEST Electronics Inc., provides Electronic Manufacturing Services (EMS) specializing in complex circuit board production for various industries.
How can one contact ZTEST Electronics Inc. for more information?
For more information, one can contact Steve Smith, CEO of ZTEST Electronics Inc., at (604) 837-3751 or via email at stevesmith15@shaw.ca.