Mr. Tyler Dunn reports

ZENTEK PROVIDES UPDATE ON COMMERCIAL PARTNERSHIPS

Zentek Ltd. has provided the following updates on its commercial agreements relating to its proprietary ZenGUARD anti-microbial coating.

EkoMed Global Inc.

On April 12, 2022, the company announced that it had entered into a reciprocal supply agreement dated March 31, 2022, with EkoMed, a globally integrated manufacturer and distributor of personal protective equipment, pursuant to which: (i) the company will sell quantities of ZenGUARD coated material to EkoMed for use initially on EkoMed's surgical masks and potentially other PPE in the future; and (ii) the company will purchase surgical masks with ZenGUARD manufactured by EkoMed and resold by the company.

Trebor

The company entered into a licence and supply agreement with Trebor Rx Corp. dated Sept. 24, 2021, pursuant to which Trebor would manufacture surgical masks and potentially other personal protective equipment coated with ZenGUARD. The Trebor agreement was the company's first revenue-generating agreement, and the company relied on Trebor to sell the product based on Health Canada authorization received on Sept. 22, 2021, under interim order No. 2 -- No. 329587 -- respecting the importation and sale of medical devices for use in relation to COVID-19.

Since then, Zentek has announced that it has been issued a medical device establishment licence (MDEL) from Health Canada (licence No. 18823) for the manufacture and distribution of any Class I medical devices, including any such devices with or without the ZenGUARD technology. The MDEL allows the company to work with other manufacturers and distributors (such as EkoMed) inside and outside of Canada, as well as to produce and sell its own Class I medical device PPE products, rather than relying on the Trebor agreement.

Effective July 29, 2022, Trebor has entered into receivership, and, in connection therewith, the Trebor agreement has terminated. Based on the EkoMed agreement, in addition to the company being able to contract with other manufacturers and distributors pursuant to its MDEL, the company does not expect any material loss from the termination of the Trebor agreement or Trebor's receivership. The company continues to seek new partnerships with other manufacturers and distributors, and will announce such partnerships when appropriate. The company also continues to work with regulators, including the Food and Drug Administration in the United States, to expand the market for PPE with ZenGUARD.

About Zentek Ltd.

Zentek is an intellectural property development and commercialization company focused on next-generation health care solutions in the areas of prevention, detection and treatment. Zentek is currently focused on commercializing ZenGUARD, a patent-pending coating shown to have 99-per-cent anti-microbial 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 exclusive commercializing partner for a newly developed aptamer-based rapid pathogen detection technology.

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