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Share Name Share Symbol Market Type Share ISIN Share Description
Zenith Energy Ltd. LSE:ZEN London Ordinary Share CA98936C1068 COM SHS NPV (DI)
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  -0.05 -7.41% 0.625 0.60 0.65 0.70 0.625 0.675 7,536,538 13:39:56
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Oil & Gas Producers 3.8 -5.6 -2.3 - 2

Zenith Energy Ltd Completion of Financing

10/07/2020 4:31pm

UK Regulatory (RNS & others)


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TIDMZEN

RNS Number : 7218S

Zenith Energy Ltd

10 July 2020

July 10, 2020

The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulation (EU) No. 596/2014 ("MAR"). Upon publication of this announcement via a regulatory information service ("RIS"), the inside information contained in this document is now considered to be in the public domain.

ZENITH ENERGY LTD.

("Zenith" or the "Company")

Completion of Financing

Zenith Energy Ltd. ("Zenith" or the "Company") (LSE: ZEN; OSE: ZENA-ME), the listed international oil & gas production company focused on pursuing African development opportunities, announces that it has completed a private placement in Norway (the "Financing").

The Financing has raised an aggregate total amount of approximately NOK 3,120,000 (approximately GBP260,000)

Issue Price

The issue price of the Financing was NOK 0.08, equivalent to approximately GBP0.007 (0.7 pence).

Use of Proceeds

The proceeds of the Financing will be used to provide additional funding for the Company's publicly announced acquisition campaign in Africa, as well as for general working capital purposes.

Financing Overview

Zenith has issued a total of 60,000,000 common shares of no-par value in the capital of the Company in connection with the Financing (the "Financing Common Shares").

An application for the Financing Common Shares to be listed on the standard segment of the FCA Official List and to be admitted for trading on the London Stock Exchange Main Market for listed securities will be made within 12 months of the issue of the Financing Common Shares.

Total Voting Rights

The Company wishes to announce, in accordance with the Financial Conduct Authority's Disclosure Guidance and Transparency Rules, the following revised information resulting from the issue of the Financing Common Shares.

 
 
   Class of share            Total number     Number        Total number 
                             of shares        of voting     of voting rights 
                                              rights        per class of 
                                              per share     share 
 Common Shares in 
  issue and admitted 
  to trading on the 
  Main Market of the 
  London Stock Exchange       313,400,824        1               313,400,824 
                          ---------------  ------------  ------------------- 
 Common Shares in 
  issue and admitted 
  to trading on the 
  Merkur Market of 
  the Oslo Børs          852,072,921        1               842,072,921 
                          ---------------  ------------  ------------------- 
 

Zenith holds 25,395,828 Common Shares in treasury. The above figure for total number of Common Shares may be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the Company under the Financial Conduct Authority's Disclosure Guidance and Transparency Rules.

Further Information:

 
 Zenith Energy Ltd. 
 Andrea Cattaneo, Chief Executive   Tel: +1 (587) 315 
  Officer                            9031 
                                   ----------------------------- 
                                    E-mail: info@zenithenergy.ca 
                                   ----------------------------- 
 

Notes to Editors :

Zenith Energy Ltd. is an international oil and gas production company, listed on the London Stock Exchange (LSE:ZEN) and the Merkur Market of the Oslo Stock Exchange (ZENA:ME).

Zenith's development strategy is to identify and rapidly seize value-accretive hydrocarbon production opportunities in the onshore oil & gas sector, specifically in Africa. The Company's board of directors and senior management team have the experience and technical expertise to develop the Company successfully.

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

END

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July 10, 2020 11:31 ET (15:31 GMT)

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