Zentek Announces Grant of Stock Options

Rhea-AI Summary

Zentek (NASDAQ: ZTEK) has announced the grant of stock options to directors, officers, and employees. The grant includes a total of 1,935,000 common shares, priced at $1.52 per share, exercisable over the next five years.

For directors and officers, the options will vest in three installments: one third on the date of the grant, one third on the first anniversary, and one third on the second anniversary. Employees will see their options vest in four installments: one quarter on the date of the grant and one quarter annually thereafter.

Positive

• New stock options granted to key personnel could incentivize performance.
• Options vesting structure suggests a long-term commitment to company growth.

Negative

• Potential shareholder dilution with the issuance of 1,935,000 new shares.
• Stock options exercisable at $1.52 may indicate current stock price weakness.

GUELPH, ON / ACCESSWIRE / June 21, 2024 / Zentek Ltd. ("Zentek" or the "Company") (NASDAQ:ZTEK)(TSXV:ZEN) announces the granting of options to acquire an aggregate of 1,935,000 common shares to certain directors, officers and employees of the Company, exercisable at a price of $1.52 per common share for a period of five years from the date of the grant. For directors and officers, the options will vest one third on the date of grant, one third on the first anniversary of the grant, and one third on the second anniversary of the grant. For employees, the options will vest one quarter on the date of grant, and one quarter on each anniversary thereafter.

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, Ontario.

For further information on Zentek:

investorrelations@zentek.com
Ryan Shacklock
Senior VP, Strategy & Business Development
Email: rshacklock@zentek.com
Phone: 306-270-9610

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 Ltd.

View the original press release on accesswire.com

FAQ

What was announced in Zentek's latest press release on June 21, 2024?

Zentek announced the grant of stock options for a total of 1,935,000 common shares to its directors, officers, and employees.

What is the exercise price for the new stock options granted by Zentek?

The exercise price for the newly granted stock options is $1.52 per common share.

How long are the new stock options granted by Zentek valid for?

The new stock options granted by Zentek are valid for a period of five years from the date of the grant.

What are the vesting periods for Zentek's new stock options for directors and officers?

For directors and officers, the options will vest one third on the date of the grant, one third on the first anniversary, and one third on the second anniversary.

How do the new stock options granted by Zentek vest for employees?

The options granted to employees will vest one quarter on the date of the grant and one quarter on each anniversary thereafter.