July 24, 2014Zecotek Display Systems and the Institute of Chemical Physics Develop Metal Alloys for 3D Printing
March 29, 2011Joint Institute for Nuclear Research for CERN COMPASS Experiment to Use Solid-State Photo Detectors
February 10, 2010Prestigious University to use Zecotek's LFS Crystals for Next-Generation PET Program
April 15, 2009Zecotek Establishes Ongoing Relationship with CERN with Initial Order of MAPD photo detectors
March 03, 2009Zecotek Closes Financing and Receives Grant Money from the Gov't of Malaysia and Singapore
December 03, 2007Demonstration of 32 inch 3D Display and Insight Media to Advise with 3D Market Entry
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Loewen, Ondaatje, McCutcheon Limited Raises Institutional Funds
December 20, 2007
Zecotek Closes $3.4 Million Private Placement
Vancouver, BC – December 20, 2007 - Zecotek Photonics Inc. (TSX-V: ZMS; Frankfurt- W1I.F), formerly Zecotek Medical Systems Inc., today announced that it has closed a previously announced private placement by issuing a total of 2,156,300 units at a price of $1.60 per unit for gross proceeds of $3,450,080. Each unit consists of one common share and one-half of one common share purchase warrant. Each whole warrant entitles the holder to acquire one common share at an exercise price of $2.10 per common share for a period of 24 months.
Net proceeds from the funds raised will be used for working capital purposes and for ongoing projects presently underway at its operating facilities in Singapore, Malaysia and Vancouver: 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, and 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.
Loewen, Ondaatje, McCutcheon Limited acted as lead agent for the private placement. Zecotek paid to Loewen a cash commission equal to 7% of the gross proceeds from the private placement. Zecotek also issued 150,941 non-transferable agent’s warrants to Loewen, Ondaatje, McCutcheon Limited. Each agent's warrant will entitle the holder to purchase one common share at an exercise price of $1.60 per common share for a period of 24 months.
The common shares and warrants issued pursuant to the private placement are subject to a four-month hold period expiring on April 21, 2008.
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Zecotek Photonics Inc. (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. The company has three distinct operating divisions: imaging, lasers and 3D display and labs located in Canada, USA, 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 www.zecotek.com.
This news release does not constitute an offer to sell or a solicitation of an offer to sell any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act�?) or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.
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 Photonics Innc., MICHAEL MINDER, CFO; VP Corporate Development, T: (604) 827-5203
Caliber Capital Partners, TIM MCNULTY, T: (778) 327-6678, E: [email protected]
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.