InvestmentMay 27, 2026, 11:42 AM
Zentek Closes C$18M Brokered LIFE Offering, Fully Subscribed
AI Summary
Zentek Ltd. announced the closing of its fully subscribed brokered Listed Issuer Financing Exemption (LIFE) offering, raising gross proceeds of C$18,000,000. The offering involved the sale of 18,000,000 units at C$1.00 each, with each unit comprising one common share and one common share purchase warrant. The company intends to use the net proceeds to advance the Albany Graphite Project, commercialize its ZenGUARD platform, meet payment obligations, and for general working capital.
Key Highlights
- Zentek closed a brokered LIFE offering for gross proceeds of C$18,000,000.
- The company sold 18,000,000 units at C$1.00 per unit, including the agent's option.
- Each unit includes one common share and one common share purchase warrant.
- Warrants are exercisable at C$1.50 per share until May 27, 2029.
- Proceeds will fund Albany Graphite Project development, ZenGUARD commercialization, and working capital.
- Red Cloud Securities Inc. received a C$1,197,360 cash fee and 1,197,360 Broker Warrants.
- Certain directors and officers participated, purchasing 695,000 units.
Price Impact
More from ZTEK