Zecotek Announces Non-Brokered Private Placement
Vancouver, January 25, 2007 - Zecotek Medical Systems Inc. (TSX-Venture -
ZMS; Frankfurt- W1I.F) today announced that the Company has arranged for a
non-brokered private placement of 1,739,130 shares (the “Shares”) at $1.15 per
share for gross proceeds of $2,000,000.
Pursuant to the financing, the Company will pay a finder’s fee equal to
8% of the gross proceeds of the sale of the Shares and issue non-transferable
finder’s warrants to purchase Shares equal in number to 7% of the Shares sold
under the private placement. Each finder’s warrant will entitle the holder to
purchase one Share at $0.90 for a period of 24 months after the date the
private placement closes.
The private placement is subject to acceptance for filing with the TSX
Venture Exchange. All Shares and finder’s warrants will be subject to a four
month hold period.
Zecotek Medical Systems Inc. has granted 250,000 stock options to
consultants for their contribution to the Company. The exercise price is set
at $1.10 and will expire on January 25, 2012. The stock options are subject to
Zecotek Medical Systems 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 commercialises 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.
For additional information on Zecotek Medical Systems and our technologies please see our website at Zecotek Photonics.
For additional information please contact:
Zecotek Medical Systems
CFO; VP Corporate Development
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 email [email protected] and mention ZMS News in the subject heading or visit the corporate website at Zecotek Photonics