Zecotek Increases Non-Brokered Private Placement to $3 Million
Vancouver, January 30, 2007 - Zecotek Medical Systems Inc. (TSX-V: ZMS; Frankfurt: W1I.F) is pleased to announce an increase to its non-brokered private placement, announced on January 25, 2007, to $3,000,000, consisting of up to 2,608,695 shares (the “Shares”) at a price of $1.15 per share.
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 100,000 stock options to an officer of the company for his contribution to the Company. The exercise price is set at $1.20 and will expire on January 30, 2012. The stock options are subject to regulatory approval.
About Zecotek
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 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.
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
MICHAEL MINDER
CFO; VP Corporate Development
T: (604)-827-5203
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