GREY:ZMSPF - Post by User
Post by
bitcoinruson May 21, 2017 1:20pm
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Post# 26268968
New to ZMS
New to ZMSreading old releases.
How does the financing of ZMS subsidiary Zecotec Imaging system in October 2016 affect shareholders of ZMS?
SINGAPORE, SINGAPORE--(Marketwired - Oct. 20, 2016) - Zecotek Photonics Inc. (TSX VENTURE:ZMS)(FRANKFURT:W1I)(OTC PINK:ZMSPF), a developer of leading-edge photonics technologies for healthcare, industrial and scientific markets, is pleased to announce that it has signed a cooperation agreement with the Shanghai Creation Investment Management Company (SCI) to initiate a US$5 million financing into its wholly owned subsidiary, Zecotek Imaging Systems Pte Ltd. The agreement calls for a maximum equity position of 10% of Zecotek Imaging stake, with the final valuation contingent upon the execution of the previously announced MOU, with a Chinese PET manufacturer. The investment in Zecotek Imaging Systems will be used to build out the necessary organizational and operational infrastructure, and add China based management to deliver its patented imaging technologies to the Chinese medical PET industry.
Read more at https://www.stockhouse.com/news/press-releases/2016/10/20/zecotek-signs-cooperation-agreement-for-5-million-equity-stake-in-zecotek#OCrCtqA51EstEEI7.99