Zentek Announces Non-Brokered Private Placement of Units for up to $2,000,000

Core Viewpoint - Zentek Ltd. announces a non-brokered private placement to raise up to $2,000,000 through the issuance of units priced at $1.06 each, aimed at funding working capital and general corporate purposes [1]. Group 1: Private Placement Details - The offering will consist of up to 1,886,792 units, each unit comprising one common share, one-half of a Series A warrant, and one-half of a Series B warrant [2]. - Series A warrants allow the purchase of one common share at $1.50 for 24 months, with potential acceleration if the share price exceeds $2.00 for 10 consecutive trading days [3]. - Series B warrants permit the purchase of one common share at $2.00 for 36 months, with acceleration possible if the share price exceeds $3.00 for 10 consecutive trading days [4]. Group 2: Regulatory and Approval Information - The closing of the offering is contingent upon receiving necessary corporate and regulatory approvals, including from the TSX Venture Exchange [5]. - All securities issued will be subject to a four-month hold period from the date of issuance [5]. Group 3: Stock Options and Restricted Share Units - The company has granted stock options to certain officers, directors, and employees to acquire a total of 979,000 common shares at $1.06 per share, with a vesting schedule over five years [7]. - Additionally, 779,000 restricted share units have been granted, vesting on October 1, 2026 [7]. Group 4: Company Overview - Zentek is an intellectual property development and commercialization company focused on creating novel products that enhance the safety and efficiency of commercial partners' offerings [8][9]. - The company holds a global exclusive license for an Aptamer-based platform technology developed by McMaster University, targeting diagnostic and therapeutic markets [10].