EMS Firm ZTEST Offers Private Placement
NORTH YORK, ONTARIO – EMS firm ZTEST Electronics is offering shares in the company in an effort to raise funds.
The placement will be for up to 1.8 million units at $0.075 per unit, or $135,000 total. Each unit is comprised of one common share and one-half a share purchase warrant, with each full share purchase warrant entitling the holder to acquire a common share of the corporation at $0.10 for five years following closing.
ZTEST will pay a 4% cash finder’s fee on the gross proceeds raised in the offering.
J.T. Risty Ltd., an insider of the corporation, intends to subscribe for up to one million units of the offering for proceeds of up to $75,000. Risty currently owns 745,790 common shares, 14.2% of the firm. As a result of this proposed transaction, Risty will hold up to 27.88% of outstanding capital of nearly 6.3 million common shares.
Insiders other than Risty may subscribe for up to 800,000 units for up to $60,000.
