Zentek Announces Grant of Stock Options

Rhea-AI Summary

Zentek Ltd. (ZTEK) grants 400,000 options to a director and officer, exercisable at $1.75 per share, with vesting over three to five years.

GUELPH, ON / ACCESSWIRE / November 30, 2023 / Zentek Ltd. ("Zentek" or the "Company") (NASDAQ:ZTEK);(TSXV:ZEN), an intellectual property technology development and commercialization company announces the granting of 400,000 options total to a director and to an officer of the company exercisable at a price of $1.75 per common share with a term of three years for the officer and five years for the director from the date of the grant. The options will vest one-third on the date of grant, one-third after six months of the date of grant and one-third after 12 months of the date of grant.

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 bacterial and viral filtration efficiency of both surgical masks and HVAC (heating, ventilation, and air conditioning) systems. Zentek's ZenGUARD™ production facility is located in Guelph, Ontario. Zentek's patent pending ZenARMOR™ technology platform is focused on corrosion protection applications.

Zentek has a global exclusive license to the Aptamer-based platform technology developed by McMaster University which is being jointly developed by Zentek and McMaster for both the diagnostic and therapeutic markets.

For further information:
Investorrelations@zentek.com

Francis Dube
Tel: (289) 821-2820
Email: fdube@zentek.com

To find out more about Zentek, please visit our website at www.Zentek.com. A copy of this news release and all material documents in respect of the Company may be obtained on Zentek's SEDAR+ profile at http://www.sedarplus.ca/.

Forward-Looking Statements
This news release contains forward-looking statements. Since forward-looking statements address future events and conditions, by their very nature they involve inherent risks and uncertainties. Although Zentek believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. Zentek disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

SOURCE: Zentek

View source version on accesswire.com:
https://www.accesswire.com/812113/zentek-announces-grant-of-stock-options

FAQ

What is the recent announcement from Zentek Ltd. (ZTEK)?

Zentek Ltd. (ZTEK) has announced the granting of 400,000 options to a director and an officer of the company, exercisable at a price of $1.75 per common share, with a vesting period of three to five years.

How many options were granted by Zentek Ltd. (ZTEK)?

Zentek Ltd. (ZTEK) granted a total of 400,000 options to a director and an officer.

What is the exercise price for the options granted by Zentek Ltd. (ZTEK)?

The exercise price for the options granted by Zentek Ltd. (ZTEK) is $1.75 per common share.

How long is the vesting period for the options granted by Zentek Ltd. (ZTEK)?

The options granted by Zentek Ltd. (ZTEK) will vest one-third on the date of grant, one-third after six months, and one-third after 12 months.

Who are the recipients of the granted options by Zentek Ltd. (ZTEK)?

The options were granted to a director and an officer of Zentek Ltd. (ZTEK).