Mr. Ryan Shacklock reports

ZENTEK ANNOUNCES CLOSING OF NON-BROKERED PRIVATE PLACEMENT OF UNITS

Zentek Ltd. has closed its non-brokered private placement of units through the issuance of 2,361,500 units at a price of $1.30 per unit for gross proceeds of $3,069,950. Net proceeds of the offering will be used for working capital and general corporate purposes.

Zentek's chief executive officer, Greg Fenton, commented: "We would like to thank all those who participated in the offering. This funding will allow us to immediately allocate resources to our international market expansion strategy, where ZenGuard-coated HVAC filters can play a meaningful role in an entity's sustainability objectives."

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 for a period of 24 months from the closing date of the offering.

In connection with the closing of the offering, the company paid certain eligible persons a cash commission of $29,499.40 in the aggregate.

Closing of the offering remains 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 are 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.