Zentek Announces Non-Brokered Private Placement of Units for up to $3 Million

Company Overview - Zentek Ltd. is an intellectual property development and commercialization company focused on research, development, and commercialization of novel products aimed at providing commercial partners with a competitive advantage by enhancing product quality, safety, and environmental sustainability [13]. Technology and Product Development - Zentek's patented technology platform, ZenGUARD™, demonstrates 99% anti-microbial activity and significantly improves viral filtration efficiency for surgical masks, with plans to extend this capability to HVAC systems [1]. Financial Activities - The company has announced a non-brokered private placement of units for up to $3 million, issuing up to 2,307,692 units at a price of $1.30 per unit. The gross proceeds will be allocated for working capital and general corporate purposes [6]. - Each unit consists of one common share and one-half of one common share purchase warrant, with each whole warrant allowing the purchase of one common share at a price of $3.00 for a period of 24 months from the closing date of the offering [14]. Regulatory Compliance - The closing of the offering is contingent upon receiving all necessary corporate and regulatory approvals, including approval from the TSX Venture Exchange [12].