Zentek (TSE:ZEN) has released an update.
Zentek Ltd. has successfully completed a non-brokered private placement, raising $3,069,950 through the issuance of over 2.3 million units at $1.30 each. Each unit consists of one common share and a half warrant, which allows the holder to purchase an additional share at $3.00 within 24 months. The funds raised will boost the company’s general working capital, and the offering is subject to a four-month hold period and final approval by the TSX Venture Exchange.
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