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Zentek Announces Closing of Fully Subscribed Brokered LIFE Offering for Gross Proceeds of C$18 Million
Guelph, Ontario--(Newsfile Corp. - May 27, 2026) - Zentek Ltd. (TSXV: ZEN) (NASDAQ: ZTEK) ("Zentek" or the "Company") is pleased to announce the closing of its previously announced "best efforts" private placement (the "Offering") for gross proceeds of C$18,000,000, which includes the exercise in full of the agent's option. Pursuant to the Offering, the Company sold 18,000,000 units of the Company (the "Units") at a price of C$1.00 per Unit (the "Offering Price"). Red Cloud Securities Inc. ("Red
About this update from Zentek Ltd.
Guelph, Ontario--(Newsfile Corp. - May 27, 2026) - Zentek Ltd. (TSXV: ZEN) (NASDAQ: ZTEK) ("Zentek" or the "Company") is pleased to announce the closing of its previously announced "best efforts" private placement (the "Offering") for gross proceeds of C$18,000,000, which includes the exercise in full of the agent's option. Pursuant to the Offering, the Company sold 18,000,000 units of the Company (the "Units") at a price of C$1.00 per Unit (the "Offering Price"). Red Cloud Securities Inc. ("Red Cloud") acted as sole agent and bookrunner in connection with the Offering. "Closing this financing reflects confidence in the value-creation path we have built across Albany Graphite, ZenGUARD™, and Triera since December," said Mohammed Jiwan, Chief Executive Officer of Zentek. "With the financing in place, we are well-capitalized to advance our near-term priorities, the Albany Preliminary Economic Assessment, ZenGUARD™ commercialization, and our critical minerals development work, with discipline and focus." Each Unit consists of one common share of the Company (each, a "Common Share") and one common share purchase warrant (each, a "Warrant"). Each Warrant entitles the holder thereof to purchase one Common Share (a "Warrant Share") at a price of C$1.50 at any time on or before May 27, 2029. The Company intends to use the net proceeds from the Offering for (i) the development and derisking of the Albany Graphite Project, including the completion of a new Preliminary Economic Assessment currently being prepared by Micon International Limited, the advancement of subsequent preliminary feasibility study work, and business development activities targeting small modular reactor developers, national defence end-users, and other high-intensity end-user markets for which Albany ultra-high-purity graphite is suited; (ii) the continued commercialization of the Company's ZenGUARD™ platform; (iii) payment obligations; and (iv) general working capital and corporate purposes. In accordance with National Instrument 45-106 – Prospectus Exemptions ("NI 45-106"), the Units were issued to Canadian purchasers pursuant to the listed issuer financing exemption under Part 5A of NI 45-106, as amended by Coordinated Blanket Order 45-935 –&nbs...