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Zecotek Announces $2 Million Divisional Equity Financing Based on $100 Million Valuation

Zecotek Photonics Inc. (“Zecotek” or the “Company”) (TSX-V: ZMS) (Frankfurt: W1I), a developer of leading-edge photonics technologies for healthcare, industrial and scientific markets, is pleased to announce that the same group which made the $5 million investment in Zecotek Imaging China, announced in January 2018, has invested an additional $2 million to acquire another 2% interest in the Company’s wholly owned subsidiary, Zecotek Imaging Systems Pte. Ltd. The divisional financing was based solely on the appraised pre-commercialized value of approximately $100 million.

“With recent M&A activity in the photo detector manufacturing marketplace, we have observed a significant increase of interest in our patented high dynamic range photo-detectors,” said Dr. A.F. Zerrouk, Chairman, President, and CEO of Zecotek Photonics Inc. “The funds raised in this divisional equity financing will be used to initiate the manufacturing of the new generation series of solid-state micro-pixel avalanche photo diodes and transistors (MAPD/T) by our associates at the Malaysian Institute of Microelectronics Systems. We are moving to full production and commercialization to meet the increasing demand for medical imaging, high energy physics and other industrial applications, such as LIDAR and autonomous cars, and leverage the significant performance advantages of our MAPD/T.”

Zecotek’s patented MAPD/T offers significant performance-cost advantages over competing photomultiplier tubes (PMT) and other solid-state, silicon based photo detectors known as SiPM. The new generation MAPD/T have low manufacturing cost, excellent timing resolution and photon detection efficiency – key characteristics for the new configurations of high resolution PET medical scanners. Solid-state MAPD/T also offer superior recovery time, unique radiation hardness and display of the highest possible linearity making them prime components for the improved detector designs required in high energy experiments at the Chinese Institute of High Energy Physics (IHEP) and CERN. Zecotek’s pioneering MAPD technology can also be used to manufacture two-dimensional arrays of solid-state photo detectors, which allows for the manufacture and implementation of both very large-area detectors and compact position-sensitive arrays.