ZTEST Announces Results of Annual Meeting and Grant of Stock Options

Rhea-AI Summary

ZTEST Electronics Inc. announced the re-election of its Board of Directors and the re-appointment of its auditors at the annual shareholder meeting held on September 30, 2022. The company also granted 1,275,000 stock options to its directors and officers, exercisable at $0.10 per share for a period of five years. ZTEST operates through its subsidiary, Permatech Electronics Corp., providing electronic manufacturing services from its 20,000 sq ft facility in Ontario, Canada, catering to various industrial sectors.

Positive

• Re-election of the Board of Directors indicating stability.
• Granting of 1,275,000 stock options aligns management incentives with shareholder interests.

Negative

• None.

NORTH YORK, ON / ACCESSWIRE / September 30, 2022 / ZTEST Electronics Inc. ("ZTEST" or the "Company") (CSE:ZTE) is pleased to announce that the existing Board of Directors was re-elected and the existing auditors were re-appointed at the annual meeting of shareholders held on Friday, September 30, 2022. The Company also wishes to announce that it has granted 1,275,000 stock options to directors and officers of the Company and its wholly-owned subsidiary, Permatech Electronics Corp., exercisable at $0.10 per share for 5 years.

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, Testing and Design services. Permatech operates from a 20,000 square foot, ISO 9001:2015 certified facility in North York, Ontario, Canada. The company serves customers in the Medical, Power, Computer, Telecommunications, Wireless, Industrial and Consumer Electronics markets requiring high quality, quick-turnaround, small and medium size production runs.

About Conversance Inc.

Conversance, a private company based in Waterloo, Ont., founded by Mr. Chen, is focused on developing and marketing proprietary artificial-intelligence supported distributed ledger technologies. Mr. Chen is an electrical engineer with a strong background in radio frequency, digital signal processing, VLSI (very-large-scale integration), complex systems, chemistry and physics. Mr. Chen joined Research in Motion (now BlackBerry) in 1999, becoming a senior member of the office of the chief technology officer, where he was instrumental in many of Blackberry's key telephony innovations and patents. Mr. Chen's interest in blockchains began in 2009.

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.sedar.com).

SOURCE: ZTEST Electronics Inc.

View source version on accesswire.com:
https://www.accesswire.com/718401/ZTEST-Announces-Results-of-Annual-Meeting-and-Grant-of-Stock-Options

FAQ

What was announced at ZTEST Electronics' annual meeting on September 30, 2022?

At the annual meeting, ZTEST Electronics announced the re-election of its Board of Directors and the re-appointment of its auditors.

How many stock options did ZTEST grant to its directors and officers?

ZTEST granted 1,275,000 stock options to its directors and officers.

What is the exercise price for the stock options granted by ZTEST Electronics?

The stock options granted by ZTEST have an exercise price of $0.10 per share.

How long are the stock options valid for ZTEST Electronics?

The stock options granted by ZTEST Electronics are exercisable for a period of five years.

What services does ZTEST Electronics provide through its subsidiary?

ZTEST, through its subsidiary Permatech, provides Electronic Manufacturing Services (EMS) including PCB assembly, testing, and design services.