Zentek CEO Greg Fenton resigns to accept new position

Zentek (ZTEK) announced that Greg Fenton has resigned as CEO and as a member of the Board of Directors, to become the full-time CEO of Altek Advanced Materials, a Nevada incorporated private company focused on the commercialization of advanced material technologies in the U.S., of which Greg Fenton owns more than a 50% beneficial equity interest. The company has entered into a non-arm’s length, binding letter of intent effective September 3 with Altek to negotiate one or more non-exclusive licensing agreements relating to Zentek’s various technologies, including ZenGUARD, in order to accelerate Zentek’s efforts and opportunities for commercialization in the U.S. The LOI provides for an initial licensing term for ZenGUARD of five years, with an option to renew the term for an additional five years. The LOI also includes royalties of between 5% and 8% of net sales of ZenGUARD or ZenGUARD) products based on certain net sales thresholds. Altek will be responsible for manufacturing and commercializing the products in the United States, and Zentek will retain ownership of all of its intellectual property. Fenton will be immediately appointed to Zentek’s Advisory Board, where he will continue to serve out the remainder of his Consulting Agreement with Zentek by providing strategic guidance and expertise to the Zentek Board of Directors and continue to support key relationships for the company. Upon the expiration of his Consulting Agreement on March 31, 2026, he will remain on the Advisory Board. Zentek’s Board of Directors has initiated a comprehensive search for a new CEO. In the interim, the Board has appointed the company’s CFO, Wendy Ford as the interim CEO, and the company’s senior executive team along with the Board of Directors will work to ensure a seamless transition.