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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 | ||||||||||||||
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