Zentek Ltd. announced the closing of its non-brokered private placement, raising gross proceeds of $2,479,227.
The company issued 2,338,893 units at a price of $1.06 per unit. Each unit consisted of one common share, one-half of a Series A warrant, and one-half of a Series B warrant.
The Series A warrants are exercisable at $1.50 until October 22, 2027, and Series B warrants at $2.00 until October 22, 2028. Proceeds will be used for general and administrative corporate purposes, with certain directors participating in the offering.
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