ZTE gets new machinery
Ztest unit acquires surface-mount assembly machinery
2009-05-05 05:32 ET - News Release
Mr. Ted Drzazga reports
ZTEST ANNOUNCES CLOSING OF EQUIPMENT FINANCING
ZtestElectronics Inc.'s operating subsidiary, Permatech Electronics Corp.,further to its press release issued in Stockwatch dated April 2, 2009,has acquired production equipment comprising surface-mount assemblymachinery including Siemens F5 and S27 SMT placement systems. The newequipment has been installed and is fully operational.
Theacquisition was financed pursuant to a loan agreement dated April 23,2009. Ztest issued two debentures secured against the equipment in theamount of $997,500 at a blended interest rate of 8.8 per cent. One ofthe lenders was granted an option to acquire 24 per cent of Permatechfrom Ztest for $200,000. Ztest issued 2.8 million bonus common sharesto one of the lenders subject to resale restriction until Sept. 2, 2009.
We seek Safe Harbor.