Zecotek Raises Additional $2,000,000; Engages Caliber Capital Partners.
Vancouver, BC – April 2, 2007 - Zecotek Medical Systems Inc. (TSX-V: ZMS; Frankfurt- W1I.F) is pleased to announced that it has raised an additional $2,000,000 from the exercise of share purchase warrants and options. The Company has now raised an aggregate of $5.5 million through the $3.5 million non-brokered private placement completed in February 2007 and through the exercise of warrants and options.
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 initializing commercial production of the Zecotek’s solid-state MAPD photo-detector, completion of a 32″ commercial prototype of the 2D3D display, the transfer of production of the Company’s new 456 and 488 nm lasers from its Moscow labs to its Singapore labs, and to initiate commercial production of the Company’s high performance RFO vanadate laser crystals. Furthermore, Zecotek has established a new marketing and production team, based in Singapore, for the sales and marketing of its lasers and laser products.
Zecotek Medical Systems Inc. also announced today that it has retained the services of Caliber Capital Partners of Vancouver, to provide investor relations and capital market advisory services.
Commencing immediately, Caliber will develop and manage Zecotek’s investor relations program for a term of twelve months to March 31, 2008. Services will continue on a monthly basis whereby either party may terminate the agreement upon tendering three months written notice. Caliber will receive a monthly retainer of $6,000, plus approved expenses.
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About Caliber Capital Partners
Caliber Capital Partners is a British Columbia-based capital market advisory firm assisting emerging companies to achieve their growth potential, brand recognition and establish a fair market value within the financial marketplace. Caliber Capital has a history of providing strategic financial advice to emerging private and publicly traded companies and has established a reputation for dedication and excellence. Visit us at www.CaliberCapitalPartners.com.
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.
For additional information on Zecotek Medical Systems and our technologies please see our website at Zecotek Photonics.
For additional information please contact:
MICHAEL MINDER TIM MCNULTY
CFO; VP Corporate Development Caliber Capital Partners
T: (604) 827-5203 T: (778) 327-6678
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.