Zentek Announces Binding Letter of Intent with GMAF Circular Medico for ZENGuard™-Enhanced Circular PPE™

Guelph, ON

Zentek Ltd. (“ZEN” or the “Company”) (TSX-V:ZEN and OTC:ZENYF), a Canadian IP development and commercialization company focused on next-gen healthcare solutions, is pleased to announce that it has entered into a binding letter of intent (the “LOI”) with GMAF Circular Medico ApS (“GMAF”) to produce and sell ZENGuard™-enhanced GMAF trademarked recyclable surgical masks (“Circular PPETM”).

As previously announced in its press release dated November 29, 2021, ZEN’s Medical Device Establishment License (“MDEL”) allows the Company to work with other manufacturers and distributors around the world to sell Class I PPE products in the Canadian market. Pursuant to the terms of the LOI, ZEN and GMAF have agreed to negotiate in good faith with a view to entering into a definitive agreement to bring Circular PPETM coated with ZENGuard™ to the Canadian market while also evaluating regulatory requirements in other target markets. Commercial sales of Circular PPETM with ZENGuard™ outside of Canada will be subject to applicable regulatory approvals.

Denmark-based GMAF has successfully established a recycling program to collect and disinfect surgical masks and convert them into polypropylene pellets to be re-used in their production of surgical masks and other personal protective equipment. ZEN and GMAF intend to cooperate to incorporate ZENGuard™ into GMAF’s Circular PPETM surgical masks. GMAF’s manufacturing facility is located in Randers, Denmark. ZEN and GMAF will seek to optimize logistics by considering a number of delivery options, including, without limitation, ZEN shipping ZENGuard™ to be applied to materials at the facility in Germany from which GMAF currently sources its raw materials for surgical masks.

Greg Fenton, CEO of ZEN, commented, “Improved PPE is an important part of limiting the spread of infections globally, and we believe deactivating pathogens and enhancing bacterial and viral filtration efficiency of surgical masks with our ZENGuard™ technology can help accomplish that. While the pandemic has greatly heightened awareness of the importance of infection control, it has also highlighted the need for sustainable solutions that reduce waste, pollution and our carbon footprint. Zentek’s vision is a healthier and safer world through nanotechnology and by partnering with GMAF we believe we can help to achieve this by protecting both people and the environment.”

Ingo Walterscheid and Lars Thomas Kristensen, co-founders of GMAF, commented, “We are both thrilled to work together with Zentek’s highly professional team, combining their strength on their nanotechnology ZENGuard™ with our Circular PPE™ surgical masks. We look forward to working with Zentek to provide our circular take-back solution, to eliminate waste and significantly lower CO2 emissions in the healthcare sector of Canada and other target markets.”

About Zentek Ltd.

Zentek is a nanotechnology company developing and commercializing next-gen healthcare solutions in the areas of prevention, detection and treatment. Zentek is currently focused on commercializing ZENGuard™, a patent-pending coating shown to have 99% antimicrobial activity, including against COVID-19, and the potential to use similar compounds as products against infectious diseases. The company also has an exclusive agreement to be the global commercializing partner for a newly developed aptamer-based rapid pathogen detection technology.

About GMAF Circular Medico ApS

GMAF Circular Medico ApS was established on April 6, 2020 as a subsidiary of the Global Material & Asset Fond, a commercial Danish foundation supporting the UN Sustainable Development Goals using Circular Economy models. In the middle of the coronavirus pandemic Global Material & Asset Fond initiated a PPP collaboration with the Capital Region of Denmark on behalf of the Danish Emergency Task Force to ensure rapid development of sustainable protective equipment and production of national contingencies for the Danish healthcare system.

For further information:

Matt Blazei
Tel: (212) 655-0924
Email: mattb@coreir.com

GMAF Circular Medico ApS
Ingo Walterscheid
Tel: +45 30214773
Email: info@circularmedico.com

To find out more about Zentek Ltd., 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 ZEN’s SEDAR profile at www.sedar.com.

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.

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About Zentek Ltd.

Zentek is an IP development and commercialization company focused on next-gen healthcare solutions in the areas of prevention, detection and treatment. Zentek is currently focused on commercializing ZenGUARD™, a patent-pending coating with 99% antimicrobial activity, including against COVID-19, and the potential to use similar compounds as pharmaceutical products against infectious diseases. The company also has an exclusive agreement to be the global commercializing partner for a newly developed, highly scalable, aptamer-based rapid pathogen detection technology.

To find out more about Zentek Ltd., 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 www.sedar.com.

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.

For further information:

Matt Blazei

CORE IR

(212) 655-0924

mattb@coreir.com

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