GUELPH, IN / ACCESS CABLE / August 5, 2022 / Zentek Ltd. (“zentek” or the “Company“) (NASDAQ:ZTEK)(TSXV:ZEN), an intellectual property development and commercialization company, provides the following updates on its business dealings related to its proprietary ZenGUARD™ antimicrobial coating.
On April 12, 2022, the Company announced that it had entered into a Reciprocal Supply Agreement (the “Ekomed Agreement“) dated March 31, 2022, with EkoMed Global Inc. (“EkoMed“), a globally integrated manufacturer and distributor of personal protective equipment (“PPE“), pursuant to which (i) the Company will sell quantities of ZenGUARD™ coated material to EkoMed for initial use in EkoMed’s surgical masks and potentially other PPE in the future, and (ii) the Company purchase surgical masks with ZenGUARD™ manufactured by EkoMed and resold by the Company.
The Company entered into a license and supply agreement with Trebor Rx Corp. (“clover“) dated September 24, 2021 (the “Trebor Agreement“) under 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 authorization from Health Canada received on September 22, 2021, pursuant to Interim Order No. 2 – #329587 – Respect for the importation and sale of medical products. Devices for use in connection with COVID-19.
Zentek has since announced that it has been issued a Medical Device Establishment License (“CDM“) of Health Canada (license number 18823) for the manufacture and distribution of any Class I medical device, including such devices with or without ZenGUARD™ technology. The MDEL allows the company to work with other manufacturers and distributors (such as Ekomed) in and outside of Canada, as well as to produce and sell its own Class I medical device PPE products, instead of relying on the Trebor Agreement.
Effective July 29, 2022, Trebor has entered into receivership and, in connection therewith, the Trebor Agreement has been terminated. Under the Ekomed Agreement, in addition to the fact that the Company may 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 FDA in the United States, to expand the PPE market with ZenGUARD™.
About Zentek Ltd.
Zentek is an IP development and marketing company focused on next-generation health solutions in the areas of prevention, detection and treatment. Zentek is currently focused on the commercialization of ZenGUARD™, a patent-pending coating that has been shown to have 99% antimicrobial activity, including against COVID-19, and the potential to use similar compounds as infectious disease products. The company also has an exclusive agreement to be the worldwide exclusive trading partner for a newly developed aptamer-based rapid pathogen detection technology.
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Email: [email protected]
For more information about Zentek Ltd., please visit our website at www.zentek.com. A copy of this press release and all material documents regarding the Company may be obtained on ZEN’s SEDAR profile at http://www.sedar.com/.
This press release contains forward-looking statements. Since forward-looking statements refer to 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, such information should not be unduly relied upon, which only applies as of the date of this news release, and is not can guarantee. provided that such events will occur within the disclosed timeframes or not 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, except 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.
FONT: zentek ltd.
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