NORTH YORK, ONTARIO -- The parent company of EMS firm Permatech Electronics raised more than $530,000 from the first tranche of its non-brokered private placement.

ZTest Electronics announced on Jan. 11 the sale of 625,000 working capital units at $0.85 per unit. It generated gross proceeds of $531,250 from the offering, which will remain open until all units are sold or Feb. 23, whichever comes first.

Each unit consists of one common share and one-half of a common share purchase warrant.

Permatech is a Tier IV EMS in North York, Ontario, Canada.

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