Mr. Ryan Shacklock reports

ZENTEK ANNOUNCES UPSIZE TO NON-BROKERED PRIVATE PLACEMENT OF UNITS

Further to Zentek Ltd.'s press release of July 31, 2024, its previously announced non-brokered private placement of units at a price of $1.30 per unit has been upsized to 2,361,538 units for aggregate gross proceeds of up to $3.07-million.

Net proceeds of the offering will be used for working capital and general corporate purposes.

Each unit consists of one common share and one-half of one common share purchase warrant. Each whole warrant entitles the holder thereof to purchase one common share at a price of $3.00 for a period of 24 months from the closing date of the offering.

The company may pay certain eligible persons (the finder) a cash commission equal to 5 per cent of the gross proceeds of the offering raised from subscribers introduced to the company by such finder.

Closing of the offering is subject to receipt of all necessary corporate and regulatory approvals, including the approval of TSX Venture Exchange. 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.

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 99-per-cent anti-microbial activity and to significantly increase the viral filtration efficiency for surgical masks and aims to do the same for HVAC (heating, ventilation and air conditioning) systems. Zentek's ZenGUARD production facility is located in Guelph, Ont.

We seek Safe Harbor.