ZTEST Electronics Inc. Announces Formation of Board Committee to Lead CEO Search and Grant of Stock Options
Rhea-AI Summary
ZTEST Electronics (OTC:ZTSTF) reported that President and CEO Steve Smith has resigned and the Board has formed a special committee to lead the executive search. The committee will identify and recommend candidates. ZTEST also granted 100,000 stock options to Stephen Harpur at $0.385 per share, exercisable for five years.
Positive
- Board forms special committee to manage CEO search process
- Grant of 100,000 stock options at $0.385 to Stephen Harpur aligns compensation with share price
- Five-year option term may support longer-term commitment from option recipient
Negative
- Resignation of President and CEO Steve Smith creates leadership transition
- Issuance of 100,000 stock options introduces potential future share dilution
News Market Reaction – ZTSTF
In the Jun 23 session, ZTSTF gained 13.64%, reflecting a significant positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
AI-generated analysis. How Rhea-AI works. Not financial advice.
NORTH YORK, ON / ACCESS Newswire / June 23, 2026 / ZTEST Electronics Inc. ("ZTEST" or the "Company") (CNSX:ZTE)(OTCID:ZTSTF) announces that its Board of Directors has established a special committee to oversee the executive search process following the resignation of Steve Smith as President and Chief Executive Officer.
The committee has been mandated to identify, evaluate, and recommend qualified candidates to lead the Company through its next phase of growth and development. The Board is committed to conducting a thorough and disciplined search process and will provide further updates as appropriate.
The Company also announces that it has granted 100,000 stock options to Stephen Harpur pursuant to the Company's stock option plan. The options are exercisable at a price of
About ZTEST Electronics Inc.
ZTEST Electronics Inc., through its wholly owned subsidiary Permatech Electronics Corporation ("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 an ISO 9001:2015 certified facility in North York, Ontario, Canada. Permatech is a contract assembler 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: Dave Barnett 604-897-9663 email: davebarnett@ztest.com
Neither the Canadian Securities Exchange nor its Market Regulator (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.
FORWARD LOOKING STATEMENTS: This press release contains forward looking statements, which relate to future events or future performance and reflect management's current expectations and assumptions. Such forward looking statements reflect management's current beliefs and are based on assumptions made by and information currently available to the Company. Investors are cautioned that these forward-looking statements are neither promises nor guarantees and are subject to risks and uncertainties that may cause future results to differ materially from those expected. These forward looking statements are made as of the date hereof and, except as required under applicable securities legislation, the Company does not assume any obligation to update or revise them to reflect new events or circumstances. All of the forward-looking statements made in this press release are qualified by these cautionary statements and by those made in our filings with SEDAR+ in Canada (available at www.sedarplus.com).
SOURCE: ZTEST Electronics Inc.
View the original press release on ACCESS Newswire