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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Private Placement Increased and $1.5 Million Closed
October 12, 2012
Zecotek Increases Non-Brokered Private Placement to $1.8 Million and Closes First Tranche of $1.5 Million
The Company also announces it has closed on the first tranche of the non-brokered private placement announced on September 18, 2012. The Company has sold 4,280,000 units of the Company at a price of $0.36 per unit for gross proceeds of $1,540,000.
Each unit consists of one common share and one-half of one common share purchase warrant. Each whole warrant entitles the holder to acquire one common share at an exercise price of $0.50 per common share at any time on or before the 24-month anniversary of the closing of the offering. The Warrant’s exercise period will automatically accelerate if the common shares of the Company trade above $1.00 for a period of
Net proceeds from the funds raised will be used to complete licensing agreements and technology transfer for commercialization in the Company’s three operating division, to build and maintain patents of the IP portfolio and for general working capital purposes. All shares and warrants are subject to a four-month hold period.
Pursuant to the financing, the Company will pay finder's fees of $126,000 and issued 350,000 non-transferable finder's warrants. Each finder's warrant entitles the holder to purchase one Share at $0.50 for a period of 24 months after the date the private placement closes. All shares and warrants are subject to a four-month hold period expiring on February 11, 2012.
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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.
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