Zecotek Signs Letter of Intent with a Japanese Electronics Major to Complete the Development and Manufacture of its 3D / 2D Display
Vancouver, BC – March 26, 2007 – Zecotek Medical Systems Inc. (TSX-V: ZMS; Frankfurt- W1I.F) today announced that it has signed a letter of intent with a Japanese electronics major for its Real-Time 3D2D Display.
Recently, Zecotek officials met with senior representatives of the company at their Strategic R&DCenter in Japan. This meeting followed an earlier visit by their experts and officials to Zecotek’s Singapore facilities during which they participated in a live demonstration of the 3D2D Display. The first outcome of this meeting is the conclusion of a non-binding joint venture letter of intent (LOI).
The LOI calls for both parties to lay the groundwork for a joint relationship whereby Zecotek and the company would collaborate on an ongoing basis in the development, manufacture and commercialization of the 3D2D Display. Under terms to be agreed, the company would contribute investment, technical support and manufacturing know-how and where the product or products could be licensed for manufacture and/or commercialization either directly or under a joint venture arrangement. Under the LOI, the identity of the company remains confidential pending terms of an agreement.
Dr. A. F. Zerrouk, Chairman, President and CEO of Zecotek said, “We consider that our 3D / 2D Display is presently the best in the world and we are very pleased that this well known Japanese company shares our enthusiasm. They have extensive experience in image processing and image compression for medical imaging and other applications, as well as technologies which complement our own 3D / 2D display system. In addition, they have deep manufacturing experience, both under their own well-known brand and as an OEM to other Japanese electronics majors. We believe for all these reasons that they represent the optimal partner for Zecotek to address the full spectrum and multi-billion dollar potential of the emerging 3D market.”
A senior executive of the Electronics company said, “The scientific and technological leadership of Dr. Zerrouk and his team are well known to us. We see great promise in Zecotek’s 3D2D system and look forward to working with Zecotek’s team to achieve the project’s full commercial potential.”
ZMS signed the LOI through its Singapore subsidiary, Zecotek Display Systems Singapore Pte. Ltd.
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Zecotek Medical Systems (TSX-V: ZMS; Frankfurt- W1I.F) is a bio-photonics technology company developing high-performance crystals, photo detectors, medical lasers, optical imaging and 3D display technologies for commercial applications in the medical diagnostics and high-tech industry. Founded in 2003, the company has three distinct operating divisions: medical imaging, medical lasers and 3D display and labs located in Canada, Singapore and Russia. Zecotek commercializes its novel, patented and patent-pending bio-photonic technologies directly and through strategic alliances and joint ventures with multinational OEMs, distributors and other industry leaders.
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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