Zentek announces sale of corporate office for $2.5M

Zentek (ZTEK) announced that, as part of a strategic review of its portfolio and assets, it has entered into an agreement of purchase and sale dated for the sale of its property located at 24 Corporate Court, Guelph, Ontario which houses Zentek’s corporate office and laboratory space. Under the terms of the agreement, the buyer will pay the company an aggregate purchase price of $2.5M. The company will lease back the property from the buyer until January 31, 2026, allowing for a transition period and uninterrupted operations. The company does not anticipate any disruption to its day-to-day operations or staff as a result of the sale. Relocation planning beyond the leaseback period is currently underway and will be communicated at a later date. Completion of the sale of the property is expected to occur on or around May 15.