Zentek Announces Normal Course Issuer Bid

Guelph, ON / ACCESSWIRE / August 14, 2024 - Zentek Ltd. ("Zentek" or the "Company") (Nasdaq: ZTEK) (TSXV: ZEN) has announced its plan to conduct a normal course issuer bid (the "Bid"), pending regulatory approval. This move will allow Zentek to purchase up to 5,084,319 common shares, roughly 5% of its issued and outstanding shares, over a one-year period beginning August 16, 2024, and ending August 15, 2025, or until the maximum number of shares is acquired.

Management of Zentek believes the current market price of its shares does not fully reflect the company's business value and future prospects. As a result, the company intends to increase long-term shareholder value by buying back its shares. Purchases will occur through the facilities of the TSX Venture Exchange at market prices during the acquisition.

Integral Wealth Securities Limited has been appointed as the broker for these transactions. The Bid allows for the purchase of up to 2,033,727 shares within any 30-day period, constituting 2% of the company's outstanding shares at present.