By Devika Patel
Knoxville, Tenn., Aug. 19 - Zecotek Photonics Inc. announced it arranged a C$1.22 million private placement of units.
The company will sell 1.94 million units at C$0.63 apiece. Each unit consists of one common share and a warrant, with each warrant exercisable at C$1.00 for two years.
The warrants may expire earlier if the company's shares trade above C$1.50 for 10 consecutive trading days.
Proceeds will be used for general working capital purposes.
Based in Vancouver, B.C., Zecotek 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.
| Issuer: | Zecotek Photonics Inc.
|
| Issue: | Units of one common share and a warrant
|
| Amount: | C$1,222,200
|
| Units: | 1.94 million
|
| Price: | C$0.63
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$1.00
|
| Pricing date: | Aug. 19
|
| Stock symbol: | TSX Venture: ZMS
|
| Stock price: | C$0.72 at close Aug. 18
|
| Market capitalization: | C$34.4 million
|
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