Zentek Ltd. Announces Successful Closing of $2,000,000 Private Placement
On April 9, 2025, Zentek Ltd. (NASDAQ: ZTEK) (TSXV: ZEN) (“Zentek” or the “Company”), a leading technology company based in Guelph, Ontario, announced the successful closing of a non-brokered private placement (the “Offering”) of debenture units (the “Debenture Units”). The Offering raised gross proceeds of $2,000,000 through the issuance of 2,000 Debenture Units.
Details of the Private Placement
Each Debenture Unit consists of one debenture of the Company with a principal amount of $1,000 and a maturity date of April 9, 2028. The debentures bear interest at a rate of 5.0% per annum, payable semi-annually in arrears on October 31 and April 30 of each year. The Debenture Units were offered at a price of $1,000 per Debenture Unit.
Use of Proceeds
The net proceeds of the Offering will be used by Zentek for working capital and general corporate purposes. The Company intends to use a portion of the proceeds to fund the ongoing development of its proprietary Graphene-Aluminum Composite Material (GACM) and to continue the commercialization of its products.
Impact on Zentek
The successful closing of the private placement is a significant milestone for Zentek as it provides the Company with additional financial resources to continue its research and development efforts and to expand its commercial operations. With the proceeds from the Offering, Zentek will be able to accelerate its product development and bring new innovations to market more quickly.
Impact on the World
Zentek’s advancements in GACM technology have the potential to revolutionize various industries, including transportation, construction, and energy. The Company’s lightweight and strong composite material can be used to manufacture more fuel-efficient vehicles, reduce the carbon footprint of buildings, and improve the efficiency of renewable energy systems. The success of Zentek’s private placement is a positive sign for the future of this technology and its potential to make a significant impact on the world.
Conclusion
Zentek’s successful closing of a $2,000,000 private placement is an important step forward for the Company as it continues to develop its proprietary Graphene-Aluminum Composite Material and commercializes its products. With the additional financial resources from the Offering, Zentek is well-positioned to accelerate its research and development efforts and bring new innovations to market more quickly. The potential impact of Zentek’s technology on various industries, including transportation, construction, and energy, is significant, and the successful private placement is a positive sign for the future of this technology.
- Zentek Ltd. has successfully closed a $2,000,000 private placement of debenture units.
- The proceeds will be used for working capital and general corporate purposes, including the ongoing development of GACM technology.
- The successful closing is a positive sign for the future of Zentek’s technology and its potential to make a significant impact on various industries.
