Maison Placements assists in selling 7,142,857 units at C$0.35 apiece
By Devika Patel
Knoxville, Tenn., Oct. 23 – Zecotek Photonics Inc. said it has negotiated a C$2.5 million private placement of units. Maison Placements Canada Inc. is the agent.
The company will sell 7,142,857 units of one common share and one warrant at C$0.35 per unit on a best-efforts basis.
Each warrant will be exercisable at C$0.50 for two years. The strike price is a 51.52% premium to the Oct. 22 closing share price of C$0.33.
Proceeds will be used for general working capital and to commercialize the company`s portfolio of photonic technologies.
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 one warrant
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| Amount: | C$2.5 million
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| Units: | 7,142,857
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| Price: | C$0.35
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| Warrants: | One warrant per unit
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| Warrant expiration: | Two years
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| Warrant strike price: | C$0.50
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| Agent: | Maison Placements Canada Inc.
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| Pricing date: | Oct. 23
|
| Stock symbol: | TSX Venture: ZMS
|
| Stock price: | C$0.33 at close Oct. 22
|
| Market capitalization: | C$30.64 million
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