NORTH YORK, ONTARIO--(Marketwired - Feb. 29, 2016) - ZTEST Electronics Inc. (the "Company") (CSE:ZTE) wishes to announce that it is placing 2,000,000 units at $0.05 per unit (the "Offering"). Each unit comprises one (1) common share and one-half (1/2) of a share purchase warrant with each full share purchase warrant entitling the holder to acquire a common share of the Company at $0.05 for five (5) years (a "Unit") following closing. There is no finder's fee payable for the Offering. The funds raised in this offering will be used to expand the business of Permatech Electronics Corp., the Company's operating subsidiary, into a wider geographic area.
The Offering is subject to regulatory approval.
One subscriber for 1,000,000 WC Units is a corporation controlled by Joanna Drzazga, the wife of ZTEST's CEO Ted Drzazga. The other subscriber for 1,000,000 WC Units is the President of ZTEST John Perreault. The insider private placements are exempt from the valuation and minority shareholder approval requirements of Multilateral Instrument 61-101 ("MI 61-101") by virtue of the exemptions contain in sections 5.5(a) and 5.7(1)(a) of MI 61-101 in that the fair market value of the consideration for the securities of the Company issued to insiders does not exceed 25% of its market capitalization.
About ZTEST Electronics Inc.
ZTEST Electronics Inc., thru its wholly owned subsidiary Permatech Electronics Corp. ("Permatech"), offers Electronic Manufacturing Services (EMS) to a wide range of customers. Permatech's offering includes Materials Management, Printed Circuit Board (PCB) Assembly, Testing and Design services. Permatech operates from a 20,000 square foot, ISO 9001:2008 certified facility in North York, Ontario, Canada. The company serves customers in the Medical, Power, Computer, Telecommunication, Wireless, Industrial and Consumer Electronics markets requiring high quality, quick-turn, small and medium size production runs.
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