Zecotek Raises Additional $2,300,000
Vancouver, BC – November 21, 2007 – Zecotek Medical Systems Inc. (TSX-V: ZMS; Frankfurt- W1I.F) is pleased to announced that it has raised an additional $2,300,000 from the exercise of share purchase warrants and options in the first and second quarter of fiscal 2008. The Company has now raised an aggregate of $4.8 million through the $2.5 million non-brokered private placement completed in September 2007 and through the exercise of warrants and options since August 1, 2007.
Net proceeds from the funds raised will be used for working capital purposes and for projects presently underway at its Singapore operating facilities. The projects include; finalizing the commercial production of the Zecotek’s solid-state MAPD photo-detector, addressing growing requests for the Company’s fiber and solid-state lasers, initiating commercial scale production of the Company’s high performance RFO vanadate laser crystals and establishing a strategic manufacturing and distribution partnership for the Company’s 3D display system.
Zecotek Medical Systems (TSX-V: ZMS; Frankfurt: W1I) is a photonics technology company developing high-performance crystals, photo detectors, 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: imaging, lasers and 3D display and labs located in Canada, Singapore and Russia. Zecotek commercializes its novel, patented and patent-pending photonic technologies directly and through strategic alliances and joint ventures with multinational OEMs, distributors and other industry leaders. For more information, please visit Zecotek Photonics.
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:
Zecotek Medical Systems, Inc.
MICHAEL MINDER, CFO; VP Corporate Development, T: (604) 827-5203
Caliber Capital Partners
TIM MCNULTY, T: (778) 327-6678, E: firstname.lastname@example.org
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the content of this news release. If you would like to receive news from Zecotek in the future please visit the corporate website at Zecotek Photonics.