Zentek Announces Resignation of CEO - Greg Fenton to take New Strategic Leadership Role in U.S.-Based Venture
Zentek (Nasdaq:ZTEK) announced the immediate resignation of CEO Greg Fenton, who will transition to lead Altek Advanced Materials, a U.S.-based private company where he holds over 50% equity interest. The company has entered into a non-exclusive licensing agreement LOI with Altek for commercializing Zentek's technologies, including ZenGUARD™, in the United States.
The LOI includes a 5-year initial term with a 5-year renewal option and royalties between 5-8% of net sales. CFO Wendy Ford will serve as interim CEO while the board conducts a comprehensive search for a permanent replacement. Fenton will join Zentek's Advisory Board and continue providing strategic guidance through his Consulting Agreement until March 31, 2026.
Zentek (Nasdaq:ZTEK) ha annunciato le dimissioni immediate del CEO Greg Fenton, che passerà a dirigere Altek Advanced Materials, una società privata statunitense della quale detiene oltre il 50% del capitale. La società ha stipulato una lettera d'intenti per un accordo di licenza non esclusiva (LOI) con Altek per la commercializzazione delle tecnologie di Zentek, inclusa ZenGUARD™, negli Stati Uniti.
La LOI prevede un termine iniziale di 5 anni con opzione di rinnovo per altri 5 anni e royalty comprese tra il 5% e l'8% sulle vendite nette. La CFO Wendy Ford assumerà il ruolo di CEO ad interim mentre il consiglio avvierà una ricerca completa per un sostituto permanente. Fenton entrerà a far parte del consiglio consultivo di Zentek e continuerà a fornire indicazioni strategiche tramite un accordo di consulenza fino al 31 marzo 2026.
Zentek (Nasdaq:ZTEK) anunció la renuncia inmediata del CEO Greg Fenton, quien asumirá la dirección de Altek Advanced Materials, una empresa privada con sede en Estados Unidos en la que posee más del 50% del capital. La compañía ha firmado una carta de intenciones para un acuerdo de licencia no exclusivo (LOI) con Altek para comercializar las tecnologías de Zentek, incluida ZenGUARD™, en Estados Unidos.
La LOI establece un plazo inicial de 5 años con opción de renovación por 5 años y regalías entre el 5% y el 8% sobre las ventas netas. La directora financiera Wendy Ford asumirá la función de CEO interina mientras la junta realiza una búsqueda exhaustiva de un reemplazo permanente. Fenton se unirá al Consejo Asesor de Zentek y seguirá aportando asesoramiento estratégico mediante un contrato de consultoría hasta el 31 de marzo de 2026.
Zentek (Nasdaq:ZTEK)는 최고경영자(CEO) 그렉 펜튼의 즉시 사임을 발표했으며, 펜튼은 지분 50% 이상을 보유한 미국의 비상장 회사인 Altek Advanced Materials의 대표로 자리를 옮깁니다. 회사는 Zentek의 기술(예: ZenGUARD™)을 미국에서 상용화하기 위해 Altek와 비독점 라이선스 계약에 관한 양해각서(LOI)를 체결했습니다.
해당 LOI는 초기 기간 5년과 5년 연장 옵션을 포함하며, 순매출의 5–8%에 해당하는 로열티를 규정합니다. 재무책임자(CFO) 웬디 포드는 이사회가 영구적인 후임을 찾는 동안 임시 CEO를 맡습니다. 펜튼은 Zentek 자문위원회에 합류하고 2026년 3월 31일까지 컨설팅 계약을 통해 전략적 자문을 계속 제공합니다.
Zentek (Nasdaq:ZTEK) a annoncé la démission immédiate du PDG Greg Fenton, qui prendra la direction d'Altek Advanced Materials, une société privée américaine dont il détient plus de 50 % des parts. La société a conclu une lettre d'intention (LOI) pour un accord de licence non exclusif avec Altek afin de commercialiser les technologies de Zentek, y compris ZenGUARD™, aux États-Unis.
La LOI prévoit une durée initiale de 5 ans avec une option de renouvellement de 5 ans et des redevances comprises entre 5 et 8 % du chiffre d'affaires net. La directrice financière Wendy Ford assurera l'intérim en tant que PDG pendant que le conseil d'administration mène une recherche approfondie d'un successeur permanent. Fenton rejoindra le conseil consultatif de Zentek et continuera d'apporter des conseils stratégiques dans le cadre d'un contrat de conseil jusqu'au 31 mars 2026.
Zentek (Nasdaq:ZTEK) gab den sofortigen Rücktritt des CEO Greg Fenton bekannt. Fenton wird die Leitung von Altek Advanced Materials übernehmen, einem US-Privatunternehmen, an dem er über 50 % beteiligt ist. Das Unternehmen hat mit Altek eine LOI für eine nicht-exklusive Lizenzvereinbarung zur Vermarktung von Zenteks Technologien, einschließlich ZenGUARD™, in den Vereinigten Staaten abgeschlossen.
Die LOI sieht eine anfängliche Laufzeit von 5 Jahren mit einer Verlängerungsoption um weitere 5 Jahre sowie Lizenzen von 5–8 % des Nettoumsatzes vor. CFO Wendy Ford wird als Interims-CEO fungieren, während der Vorstand eine umfassende Suche nach einem dauerhaften Nachfolger durchführt. Fenton wird dem Beratenden Ausschuss von Zentek beitreten und bis zum 31. März 2026 im Rahmen eines Beratungsvertrags weiterhin strategische Beratung leisten.
- Strategic U.S. market entry through licensing agreement with minimal resource investment
- Royalty structure of 5-8% of net sales provides potential revenue stream
- Maintains ownership of intellectual property while expanding market reach
- Former CEO remains involved through Advisory Board role ensuring continuity
- Sudden departure of CEO creates leadership uncertainty
- Related party transaction with former CEO's new company poses potential conflicts of interest
- Non-exclusive licensing agreement may limit competitive advantages
- Execution risk in U.S. market commercialization under new leadership
GUELPH, ON / ACCESS Newswire / September 3, 2025 / Zentek Ltd. ("Zentek" or the "Company") (Nasdaq:ZTEK)(TSXV:ZEN), an intellectual property technology development and commercialization company, today announces that Greg Fenton has resigned as Chief Executive Officer ("CEO") and as a member of the Board of Directors, effective immediately, to become the full-time CEO of Altek Advanced Materials Inc. ("Altek"), a Nevada incorporated private company focused on the commercialization of advanced material technologies in the United States, of which Greg Fenton owns more than a
The Company has entered into a non-arm's length, binding letter of intent ("LOI") effective September 3, 2025, 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 United States. 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
Mr. Fenton's departure follows a tenure where he played a pivotal role in building a strong foundation and team at Zentek that advanced the Company's mission to develop cutting-edge nanotechnology solutions for healthcare, environmental, and industrial applications. His strategic vision and leadership have positioned Zentek as a frontrunner in the nanotechnology sector.
Altek will support efforts to license and commercialize certain of Zentek's proprietary technologies, including its ZenGUARD™ platform and potentially other advanced nanomaterials, and seek to gain access to the U.S. market. This strategic move is aimed to accelerate the adoption of Zentek's innovations across key industries, creating new opportunities for growth and collaboration and could provide access to the U.S. markets with minimal additional resources from Zentek, consistent with its business model.
Mr. 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.
"Greg's contributions to Zentek have been invaluable, and we are excited about the potential of this new venture seeking to amplify Zentek's impact in the United States," said Chair of the Board of Directors, Eric Wallman. "This new collaboration fits our strategy of monetizing our intellectual property portfolio."
Zentek's Board of Directors has initiated a comprehensive search for a new CEO to guide the Company through its next phase of growth as it continues to transition from development to commercialization. In the interim, the Board of Directors has appointed the Company's Chief Financial Officer, 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 and the continued execution of Zentek's strategic objectives.
"I am immensely proud of what we have achieved at Zentek and I remain deeply committed to the Company's mission," said Greg Fenton. "The team at Zentek is second to none in the nanotechnology space and will continue to execute on this mission. This new opportunity allows me to continue championing Zentek's transformative technologies while building a platform to accelerate their commercialization in the U.S. market. I have never been more confident in Zentek's future and look forward to supporting its success in this new capacity. I want to thank all the stakeholders that have supported our vision for the transformation of Zentek from a mining company to a leading developer of innovative nanotechnology solutions."
Zentek remains committed to its core mission of developing and delivering nanotechnology-based solutions that address global challenges in health, safety, and sustainability. The Company will provide further updates on the CEO transition and strategic developments as they become available.
Greg Fenton, the former CEO and director of Zentek, is also the CEO, director, and controlling beneficial shareholder of Altek, which results in the LOI constituting a "related party transaction" under Multilateral Instrument 61‐101 - Protection of Minority Security Holders in Special Transactions MI 61-101 ("MI 61-101"). Zentek is relying on section 5.5(a) of MI 61-101 for an exemption from formal valuation requirements, and section 5.7(a) of MI 61-101 for an exemption from minority approval requirements, as a committee of independent directors of Zentek has determined that neither the fair market value of the transactions contemplated in the LOI, nor the fair market value of the consideration to be payable to Zentek under the LOI, exceeds
About Zentek Ltd.
Zentek is an ISO 13485:2016 certified intellectual property technology company focused on the research, development and commercialization of novel products seeking to give the Company's commercial partners a competitive advantage by making their products better, safer, and greener.
Zentek's patented technology platform ZenGUARD™ is shown to have enhanced viral filtration efficiency for surgical masks and HVAC (heating, ventilation, and air conditioning) systems. Zentek's ZenGUARD™ production facility is in Guelph, Ontario.
Zentek has a global exclusive license to the Aptamer-based platform technology developed by McMaster University which is being jointly developed Zentek and McMaster for both the diagnostic and therapeutic markets.
For further information:
investorrelations@zentek.com
Ryan Shacklock
Tel: (306) 270-9610
Email: rshacklock@zentek.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.
SOURCE: Zentek Ltd.
View the original press release on ACCESS Newswire
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