NORTH YORK, ONTARIO -- The parent company of EMS firm Permatech closed a private placement that netted $135,000, primarily to insider J.T. Risty Ltd.

Risty acquired 1 million units of ZTEST Electronics and now holds 1.75 million common shares, or about 25% of outstanding capital, plus 500,000 warrants that,, if exercised, would raise its stake to 29.7%.

Permatech, a wholly owned subsidiary of ZTEST, is a provider of electronics manufacturing services. It has annual sales of about $3.8 million. The corporation currently has 7.1 million common shares issued.