SINGAPORE, SINGAPORE / CRWEPRESSRELEASE / August 19, 2015 / Zecotek Photonics Inc. (CVE:ZMS) (FRA:W1I.F),a developer of leading-edge photonics technologies for industrial, healthcare and scientific markets, today announced that it proposes to amend the terms of an aggregate of 2,983,469 warrants issued to subscribers of a private placement which closed on September 5, 2013. The Company proposes to re-price the exercise price of the subscriber warrants to $0.55 per common share from the initial exercise price of $0.75, and extend the expiry date from September 5, 2015 to March 5, 2016.
The amended warrants exercise period will automatically accelerate if the common shares of the Company trade above $0.75 per common share for a period of ten consecutive trading days.
The proposed amendment is subject to approval by the TSX Venture Exchange.
Zecotek Photonics Inc (CVE:ZMS) (FRA:W1I) is a photonics technology company developing high-performance scintillation crystals, photo detectors, positron emission tomography scanning technologies, 3D auto-stereoscopic displays, and lasers for applications in medical, high-tech and industrial sectors. Founded in 2004, Zecotek operates three divisions: Imaging Systems, Optronics Systems and 3D Display Systems with labs located in Canada, Korea, Russia, Singapore and U.S.A. The management team is focused on building shareholder value by commercializing over 50 patented and patent pending novel photonic technologies directly and through strategic alliances and joint ventures with leading industry partners including Hamamatsu Photonics (Japan), the European Organization for Nuclear Research (Switzerland), Beijing Opto-Electronics Technology Co. Ltd. (China), NuCare Medical Systems (South Korea), the University of Washington (United States), and National NanoFab Center (South Korea). For more information visit www.zecotek.com, follow @zecotek on Twitter.
This press release may contain forward-looking statements that are based on management’s expectations, estimates, projections and assumptions. These statements are not guarantees of future performance and involve certain risks and uncertainties, which are difficult to predict. Therefore, actual future results and trends may differ materially from what may have been stated.
For Additional Information Please Contact:
Zecotek Photonics Inc.
T: (604) 783-8291
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SOURCE: Zecotek Photonics Inc.