| | | Zentek Announces Upsizing of Non-Brokered Private Placement to up to $2,500,000 October 20, 2025 10:30 AM EDT | Source: Zentek Ltd. Guelph, Ontario--(Newsfile Corp. - October 20, 2025) - Zentek Ltd. (NASDAQ: ZTEK) (TSXV: ZEN) ("Zentek" or the "Company"), an intellectual property development and commercialization company is pleased to announce, further to its press release dated October 1, 2025, its previously announced non-brokered private placement of units (each, a "Unit") at a price of $1.06 per Unit (the "Offering") has been increased to up to 2,358,490 Units for gross proceeds of up to $2,500,000. Proceeds of the Offering will be used for working capital and general corporate purposes.
Each Unit consists of (i) one common share in the capital of the Company (each, a "Common Share"); (ii) one-half of one Common Share purchase warrant (each, a "Series A Warrant"); and (iii) one-half of one Common Share purchase warrant (each, a "Series B Warrant").
Each whole Series A Warrant entitles the holder thereof to purchase one Common Share at a price of $1.50 for a period of 24 months from the closing date of the Offering (the "Series A Expiry Date"). If at any time between the date that is four months and one day from the closing date of the Offering and the Series A Expiry Date, the closing price of the Common Shares on the TSX Venture Exchange ("TSXV") is at least $2.00 for a period of 10 consecutive trading days, the Series A Expiry Date can be accelerated to such day that is no less than thirty days from the date notice is given by the Company of such accelerated expiry.
Each whole Series B Warrant entitles the holder thereof to purchase one Common Share at a price of $2.00 for a period of 36 months from the closing date of the Offering (the "Series B Expiry Date"). If at any time between the date that is six months from the closing date of the Offering and the Series B Expiry Date, the closing price of the Common Shares on the TSXV is at least $3.00 for a period of 10 consecutive trading days, the Series B Expiry Date can be accelerated to such day that is no less than thirty days from the date notice is given by the Company of such accelerated expiry.
Closing of the Offering is subject to receipt of all necessary corporate and regulatory approvals, including the approval of TSXV. All securities issued in connection with the Offering will be subject to a hold period of four months plus a day from the date of issuance and the resale rules of applicable securities legislation.
This news release does not constitute an offer to sell or a solicitation of an offer to sell any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.
About Zentek Ltd.
Zentek is an ISO 13485:2016 certified intellectual property technology company focused on the research, development and commercialization of novel products seeking to give the Company's commercial partners a competitive advantage by making their products better, safer, and greener.
Zentek's patented technology platform ZenGUARD™ is shown to have enhanced viral filtration efficiency for surgical masks and HVAC (heating, ventilation, and air conditioning) systems. Zentek's ZenGUARD™ production facility is in Guelph, Ontario.
Zentek has a global exclusive license to the Aptamer-based platform technology developed by McMaster University which is being jointly developed Zentek and McMaster for both the diagnostic and therapeutic markets.
For further information:
investorrelations@zentek.com
Ryan Shacklock
Senior VP, Strategy and Business Development
Tel: (306) 270-9610
Email: rshacklock@zentek.com |
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