ZTEST Announces Grant Of Stock Options

Rhea-AI Summary

ZTEST Electronics Inc. (CSE:ZTE) has granted 800,000 stock options to its Directors and Officers, exercisable at $0.30 per share for 5 years. The options vest 50% after 6 months and the remainder after 1 year. The company also announced the resignation of Derrick Strickland as a director, with Dave Barnett appointed to the Audit Committee to fill the vacancy. ZTEST, through its subsidiary Permatech Electronics Corp., offers Electronic Manufacturing Services (EMS) including PCB Assembly, Materials management, and Testing services from its 21,000 square foot, ISO 9001:2015 certified facility in North York, Ontario. Permatech serves various industries, specializing in low and mid-volume production of high complexity products.

Positive

• Granted 800,000 stock options to Directors and Officers, potentially aligning their interests with shareholders
• Operates from a 21,000 square foot, ISO 9001:2015 certified facility, indicating quality standards
• Specializes in high-yield, high-quality, rapid-turnaround production for complex products

Negative

• Resignation of a director, potentially impacting board composition and expertise

News Market Reaction

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1 alert

% News Effect

On the day this news was published, ZTSTF declined NaN%, reflecting a moderate negative market reaction.

Data tracked by StockTitan Argus on the day of publication.

NORTH YORK, ON / ACCESSWIRE / August 16, 2024 / ZTEST Electronics Inc. ("ZTEST" or the "Company") (CSE:ZTE) is pleased to announce that it has granted 800,000 stock options to the Directors and Officers of the Company, exercisable at $0.30 per share for 5 years vesting as to 50% after 6 months and the balance after 1 year.

The Company also wishes to announce that Derrick Strickland has resigned as a director of the Company. Dave Barnett has been appointed to the Audit Committee to fill the vacancy created by the resignation of Mr. Strickland. Steve Smith, President and CEO of the Company, stated "On behalf of the Board of Directors, I would like to thank Derrick for his service to the Company as a director and wish him the best in his future endeavours".

ZTEST Electronics Inc.

ZTEST Electronics Inc., through its wholly owned subsidiary Permatech Electronics Corp. ("Permatech"), offers Electronic Manufacturing Services (EMS) to a wide range of customers. Permatech's offering includes Printed Circuit Board (PCB) Assembly, Materials management and Testing services. Permatech operates from a 21,000 square foot, ISO 9001:2015 certified facility in North York, Ontario, Canada. Permatech is a contract manufacturer of complex circuit boards, serving customers in the Medical, Power, Computer, Telecommunications, Wireless, Industrial, Trucking, Wearables and Consumer Electronics markets. It specializes in servicing customers who are looking for high yield and require high quality and rapid-turnaround on low and mid-volume production of high complexity products.

For more information contact: Steve Smith, CEO (604) 837-3751 email: steves@ztest.com

The CSE has neither approved nor disapproved the contents of this press release. The CSE does not accept responsibility for the adequacy or accuracy of this release.

SOURCE: ZTEST Electronics Inc.

View the original press release on accesswire.com

FAQ

What stock options did ZTEST Electronics Inc. (ZTSTF) grant on August 16, 2024?

ZTEST Electronics Inc. granted 800,000 stock options to its Directors and Officers, exercisable at $0.30 per share for 5 years. The options vest 50% after 6 months and the remaining 50% after 1 year.

Who resigned from ZTEST Electronics Inc.'s (ZTSTF) board of directors?

Derrick Strickland resigned as a director of ZTEST Electronics Inc. Dave Barnett was appointed to the Audit Committee to fill the vacancy created by Strickland's resignation.

What services does ZTEST Electronics Inc. (ZTSTF) offer through its subsidiary Permatech?

ZTEST Electronics Inc., through Permatech Electronics Corp., offers Electronic Manufacturing Services (EMS) including Printed Circuit Board (PCB) Assembly, Materials management, and Testing services. They specialize in low and mid-volume production of high complexity products.

What industries does ZTEST Electronics Inc. (ZTSTF) serve?

ZTEST Electronics Inc. serves customers in the Medical, Power, Computer, Telecommunications, Wireless, Industrial, Trucking, Wearables, and Consumer Electronics markets.