July 24, 2014Zecotek Display Systems and the Institute of Chemical Physics Develop Metal Alloys for 3D Printing
March 29, 2011Joint Institute for Nuclear Research for CERN COMPASS Experiment to Use Solid-State Photo Detectors
February 10, 2010Prestigious University to use Zecotek's LFS Crystals for Next-Generation PET Program
April 15, 2009Zecotek Establishes Ongoing Relationship with CERN with Initial Order of MAPD photo detectors
March 03, 2009Zecotek Closes Financing and Receives Grant Money from the Gov't of Malaysia and Singapore
December 03, 2007Demonstration of 32 inch 3D Display and Insight Media to Advise with 3D Market Entry
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$2.5 Million Private Placement Announced
October 23, 2014
Zecotek Announces $2.5 Million Private Placement
NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMENATION IN THE UNITED STATES.
Singapore, October 23, 2014 - Zecotek Photonics Inc. (TSX-V: ZMS; Frankfurt: W1I), (the “Company”) a developer of leading-edge photonics technologies for industrial, healthcare and scientific markets, today announced that it has engaged Maison Placements Canada Inc. (“Maison”) of Toronto, to conduct a best efforts brokered private placement offering of equity units of up to $2.5 million through issue of up to 7,142,857 units of the Company (each, a “Unit”) at a price of $0.35 per Unit.
Each Unit will consist of one common share of the Company (“Common Share”) and one common share purchase warrant. Each common share purchase warrant entitles the holder to acquire one additional Common Share at an exercise price of $0.50 per Common Share for a period of 24 months after the date the private placement closes. The Common Shares and warrants issued pursuant to the private placement will be subject to a four-month hold period.
Pursuant to the financing, the Company will pay to Maison 7% of the proceeds of the sale of the Units and issue non-transferable agent’s warrants to purchase Common Shares equal in number to 7% of the Units sold to investors found by Maison, at an exercise price of $0.50 per share for a period of 24 months.
Net proceeds from the funds raised will be used for general working capital and to commercialize the Company`s portfolio of photonic technologies. The financing remains subject to the approval of the TSX Venture Exchange.
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This press release may contain forward-looking statements that are based on management’s expectations, estimates, projections and assumptions. These statements are not guarantees of future performance and involve certain risks and uncertainties, which are difficult to predict. Therefore, actual future results and trends may differ materially from what may have been stated.For Additional Information Please Contact: