Subject:
Stockwatch: ZTEST Electronics Inc - News Release
Date:
Wed, 09 Apr 1997 09:57:41 -0700
From:
newsout@canada-stockwatch.com
To:
adjuster@hawk.igs.net
Just a note to share! Note: Apr 8, 1997 the close was $ 1.00 today, MAY 1, 1997 $ 1.60
There is much happening to create interest. It's new, it's fresh and it's got a lot more steam based on good solid management and future earnings.
Here is a copy of a recent release
Final manufacturing agreement reached with Nexsys
ZTEST Electronics Inc ZTST
Shares issued Apr 8 close $1.00
Wed 9 Apr 97 News Release
Mr Ted Drzazga reports
The company has reached a final agreement on key points of a manufacturing
agreement with Nexsys Commtech International of Waterloo, Ontario whereby
the company has been appointed the exclusive prime contractor and
coordinator of the manufacturing requirements of Nexsys for an initial term
of two years, which agreement is renewable thereafter annually. These
manufacturing requirements will initially include all components of Nexsys'
automated meter reading product line. The company reserves the right to
manufacture all parts itself or subcontract various components to ZTest
suppliers where applicable.
The company looks forward to prospect of increasing revenues from this
manufacturing agreement, as Nexsys seeks to expand its customer base along
the lines of a recently announced contract with the City of Waterloo. In
its press release of March 3 1997, the City of Waterloo announced that it
has signed a joint venture agreement with Nexsys for a project that could
save taxpayers money while it makes the city's 23,000 homes and businesses
safer, smarter and even more energy efficient. The total cost of the pilot
project is estimated at $450,000. The ultimate goal, as planned, of
connecting every Waterloo household would cost about $8 million.
The company, the largest single shareholder of Nexsys, currently holds
9,264,067 shares of Nexsys representing 43.8% of the issued shares of
Nexsys. The company also holds 793,733 class A warrants to purchase common
shares of Nexsys at $0.10 until November 30 1998 and 1,337,047 class B
warrants to purchase shares of Nexsys at $0.36 until November 30 1999.
The company offers strategic partner services in electronic design and
manufacturing to emerging high tech companies in return for long-term
manufacturing contracts together with a combination of fees and equity
positions.
(c) Copyright 1997 Canjex Publishing Ltd. canada-stockwatch.com |
