Guelph, ON Zentek Ltd. (“Zentek” or the “Company”) (Nasdaq: ZTEK; TSX-V: ZEN), a graphene technology development and commercialization company is pleased to announce the execution of a property purchase agreement (the “Agreement”) with its recently incorporated and currently wholly-owned subsidiary Albany Graphite Corp. (“Albany”) to transfer the Albany Graphite Project, and the intention of Albany to complete a non-brokered private placement financing (the “Offering”). The Agreement: Pursuant to the terms of the Agreement, Zentek intends to transfer to Albany the ownership of the Albany Graphite Project, including the mining claims and all related chattel, drill core, and applicable contracts, in consideration for the issuance by Albany to Zentek of 59,999,900 common shares of Albany. Completion of the property transfer is subject to standard closing conditions such as receipt of all required regulatory and third-party approvals (including the approval of the TSX Venture Exchange). The Offering: Albany intends to raise proceeds by ...

Guelph, ON Zentek Ltd. (“Zentek”) (Nasdaq: ZTEK; TSX-V: ZEN), an intellectual property development and commercialization company, and 1329307 BC Ltd. are pleased to announce that they have signed a non-binding letter of intent dated February 13, 2023 (the “LOI”), pursuant to which the parties have agreed to negotiate a transaction (the “Transaction”) involving the transfer of Zentek’s Albany Graphite Deposit in northern Ontario to an entity (“SpinCo”) to be listed on a recognized Canadian stock exchange. The definitive structure of the Transaction will be determined following consultation with tax, securities and corporate advisors, provided that the parties currently intend that, following completion of the Transaction, Zentek shall retain a majority direct equity interest in SpinCo. Zentek believes that transferring the Albany Graphite Deposit asset to a separate entity will enable the Albany Graphite project to move forward with the second year of environmental baseline and hydrogeology studies, with the aim to ...