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To: Goose94 who wrote (15283)8/23/2013 8:38:57 PM
From: Goose94  Read Replies (1) of 49402
 
Zecotek Photonics (ZMS-V) increases private placement to $3.2-million from $2.2-million.

Aug 23, 2013 - News Release

Zecotek Photonics Inc. has increased the previously announced non-brokered private placement by $1-million. The company is offering 5,517,241 units of the company at a price of 58 cents per unit for gross proceeds of $3.2-million.Each unit consists of one common share and one-half of one common share purchase warrant. Each whole warrant entitles the holder to acquire one common share at an exercise price of 75 cents per common share at any time on or before the 24-month anniversary of the closing of the offering. The warrant exercise period will automatically accelerate if the common shares of the company trade above $1.25 for a period of 10 consecutive trading days.

Net proceeds from the funds raised will be used to complete the transfer of technology for the purpose of immediate commercialization, strengthen and maintain patents of the company's Internet protocol portfolio, for purchase order financings, and for general working capital purposes. Pursuant to the financing, the company may pay a finder's fee. All shares and warrants are subject to a four-month hold period.

We seek Safe Harbor.
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