VANCOUVER, Jan. 30 /CNW/ - Zecotek Medical Systems Inc. (TSX-V: ZMS;
Frankfurt: W1I.F) is pleased to announce an increase to its non-brokered
private placement, announced on January 25, 2007, to $3,000,000, consisting of
up to 2,608,695 shares (the "Shares") at a price of $1.15 per share.
Pursuant to the financing, the Company will pay a finder's fee equal to
8% of the gross proceeds of the sale of the Shares and issue non-transferable
finder's warrants to purchase Shares equal in number to 7% of the Shares sold
under the private placement. Each finder's warrant will entitle the holder to
purchase one Share at $0.90 for a period of 24 months after the date the
private placement closes.
The private placement is subject to acceptance for filing with the TSX
Venture Exchange. All Shares and finder's warrants will be subject to a four
month hold period.
Zecotek Medical Systems Inc. has granted 100,000 stock options to an
officer of the company for his contribution to the Company. The exercise price
is set at $1.20 and will expire on January 30, 2012. The stock options are
subject to regulatory approval.
Additional company information may be found at www.zecotekmed.com or for
corporate filings, visit www.SEDAR.com.
The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of the content of this news
release. If you would like to receive news from Zecotek in the future,
please email email@example.com and mention ZMS News in the subject
heading or visit the corporate website at www.zecotekmed.com
For further information:
For further information: MICHAEL MINDER, CFO, VP Corporate Development,
T: (604) 827-5203, E: firstname.lastname@example.org; CHF Investor Relations, JAN C.
MOIR, Vice President, T: (416) 868-1079 x237, E: email@example.com