Zecotek Photonics Proposes To Reprice Warrants
Vancouver, BC, August 5, 2009 - Zecotek Photonics Inc. (TSX-V: ZMS; Frankfurt: W1I.F), a developer of leading-edge photonics technologies for medical, industrial and scientific markets, today announced that it proposes to amend the terms of 1,078,150 warrants issued to subscribers of a private placement which closed December 20, 2007. The Company proposes to reprice the exercise price of the subscriber warrants to $0.75 per common share from the initial exercise price of $2.10, and the expiry date of December 20, 2009 will remain the same.
The amended warrants will contain an acceleration provision, such that, if, for a period of ten consecutive trading days (the “Premium Trading Days”), the closing price of the Company’s shares is $1.00 per share or higher, the warrant exercise period will be shortened to a period of 30 days. This 30-day period will commence seven calendar days after the tenth Premium Trading Day.
The proposed amendments are subject to required regulatory approval.
Zecotek Photonics Inc. (TSX-V: ZMS; Frankfurt: W1I) is a photonics technology company developing leading-edge products: crystals, photo detectors, lasers, imaging and 3D display technologies, for medical, biotech, industrial, nanotech and atomic/molecular science applications. Founded in 2003, the company has three distinct operating divisions: Laser Systems, Imaging Systems and 3D Display Systems and labs located in Canada, the United States, Singapore, Malaysia 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 www.zecotek.com.
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 product and technical information please contact:
Zecotek Photonics Inc.
SUSANA MENDEZ ALCALA
T: (604) 827-5232
For investor information please contact:
Caliber Capital & Communications
E: [email protected]
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 visit the corporate website at www.zecotek.com.