11:25:11 EDT Fri 29 Mar 2024
Enter Symbol
or Name
USA
CA



Ztest Electronics Inc (2)
Symbol ZTE
Shares Issued 17,473,696
Close 2018-01-10 C$ 0.86
Market Cap C$ 15,027,379
Recent Sedar Documents

Ztest to increase interest in Conversance to 19.91%

2018-01-10 18:26 ET - News Release

Mr. Ted Drzazga reports

ZTEST AGREES TO EXERCISE OPTION TO ACQUIRE FURTHER INTEREST IN CONVERSANCE

Ztest Electronics Inc. has agreed to exercise an option to expand its equity ownership in Conversance Inc. by 4.86 per cent to 19.91 per cent by investing a further $140,000 in cash and issuing 275,000 common shares of Ztest. Ztest has a pre-emptive right to maintain its equity interest by participating in further financing of Conversance.

Ztest acquired a 15.05-per-cent equity interest in Conversance in December, 2016 (see press release dated Dec. 13, 2016). Conversance is a Waterloo-based private company focused on developing and marketing proprietary Al supported distributed ledger technologies. Joseph Chen is the founder and chief executive officer of Conversance.

Mr. Chen is an electrical engineer with a strong background in radio frequency, digital signal processing, VLSI, complex systems, chemistry and physics. Mr. Chen joined Research In Motion (now BlackBerry) in 1999, becoming a senior member of the office of the chief technology officer, where he was instrumental in many of Blackberry's key telephony innovations and patents. While at BlackBerry, the office of the CTO first began looking into blockchain in 2008. Since leaving Blackberry in 2012, Mr. Chen has focused much of his personal research on the state of the art in machine learning, cryptography and quantum computing, and their implications and applications in digitizing and automating finance, and the protection of personal information and trust in a digital world.

About Ztest Electronics Inc.

Ztest Electronics, through its wholly owned subsidiary, Permatech Electronics Corp., offers electronic manufacturing services (EMS) to a wide range of customers. Permatech's offering includes materials management, printed circuit board (PCB) assembly, testing and design services. Permatech operates from a 20,000-square-foot, ISO 9001:2008-certified facility in North York, Ont., Canada. The company serves customers in the medical, power, computer, telecommunication, wireless, industrial and consumer electronics markets requiring high-quality, quick-turn, small- and medium-size production runs.

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