Zecotek Photonics amends warrants sold in C$3.73 million units sale

Strike price reduced to C$0.65; expiration extended to April 23, 2012

By Devika Patel

Knoxville, Tenn., Sept. 23 - Zecotek Photonics Inc. said it amended the terms of the 5,925,000 warrants it sold in a C$3.73 million private placement of units. The offering settled on Oct. 23, 2009.

The company will reduce the strike price to C$0.65 from C$1.00 and extend the warrants' expiration to April 23, 2012 from Oct. 23, 2011.

Zecotek also said it issued 2,255,000 stock options to directors, employees and consultants for rendered services. The five-year options, too, are exercisable at C$0.65, which is a 58.54% premium to the Sept. 22 closing share price of C$0.41.

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.

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