Zentek Ltd. (ZTEK, Financial) has revealed plans to sell its property situated at 24 Corporate Court in Guelph, Ontario, which serves as the company's headquarters and laboratory facility. This move comes as part of a broader strategic review of the company's assets and portfolio.
According to the purchase and sale agreement, Zentek will receive a total of $2.5 million from the buyer for the property. Notably, the agreement includes a leaseback provision, allowing Zentek to continue using the premises without disruption until January 31, 2026. This arrangement ensures the company's operations and staff will remain unaffected in the immediate future.
Looking ahead, Zentek is in the process of planning its relocation strategy for the period following the leaseback agreement and will provide further details in due course. The transaction is projected to be finalized on or around May 15.
