Zentek Secures C$15M Oversubscribed Financing to Advance Albany Graphite and ZenGUARD
Zentek raised C$15 million through an oversubscribed offering of 15 million units priced at C$1.00 each, plus an option to issue up to 3 million additional units. Proceeds will fund a new Preliminary Economic Assessment for its Albany Graphite Project, advance ZenGUARD commercialization and support working capital.
1. Offering Structure
Zentek launched a brokered private placement of 15 million units at C$1.00 per unit, raising C$15 million, and granted Red Cloud Securities an option to sell up to 3 million additional units for C$3 million, reflecting strong institutional demand.
2. Warrant Terms
Each unit comprises one common share and one warrant exercisable at C$1.50 per share for 36 months following closing, creating potential future dilution if full warrant exercise occurs.
3. Use of Proceeds
Net proceeds are earmarked for the Albany Graphite Project’s development and derisking—including completion of a new Preliminary Economic Assessment—continued commercialization of the ZenGUARD platform, and general working capital and corporate purposes.
4. Closing Details
The offering is expected to close on or about May 27, 2026, subject to TSX Venture Exchange approval and other customary closing conditions.