Zenith Energy

Share Issue/Capital Change • Apr 6, 2020

National Storage Mechanism | Additional information

RNS Number : 8624I

Zenith Energy Ltd

06 April 2020

April 6, 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")

Financing of up to CAD$921,000 by private placement

Zenith Energy Ltd., ("Zenith" or the "Company"), (LSE: ZEN; TSX.V: ZEE; OSE: ZENA-ME), the international oil & gas production company, is pleased to announce that it is seeking approval to issue up to 75,000,000 new common shares ("Private Placement") to a selection of high net-worth private investors to raise gross proceeds of up to approximately £525,000 or NOK 6,750,000 or CAD$921,000.

The issue price of the Private Placement is £0.007 (0.7 pence), NOK0.09 or CAD$0.0125.

The Private Placement is subject to TSXV approval.

Use of Proceeds

The proceeds of the Private Placement will be used to provide increased funding for the development of its production portfolio (up to £100,000), business development expenses for the identification of new oil & gas production assets (up to £300,000), as well as for general working capital purposes (up to £125,000).

Further Information:

Zenith Energy Ltd
Andrea Cattaneo, Chief Executive Officer	Tel: +1 (587) 315 9031
	E-mail: info@zenithenergy.ca
Novum Securities Limited - Broker
Colin Rowbury	Tel: + 44 (0) 207 399 9400

Notes to Editors:    

Zenith Energy Ltd. is an international oil and gas production company, listed on the TSX Venture Exchange (TSX.V:ZEE) and London Stock Exchange (LSE:ZEN). In addition, the Company's common share capital was admitted to trading on the Merkur Market of the Oslo Børs (ZENA:ME) on November 8, 2018. The Merkur Market is a multilateral trading facility owned and operated by the Oslo Børs. 

The Company was assigned a medium to long-term issuer credit rating of "B+ with Positive Outlook" on October 9, 2019 by Arc Ratings, S.A. On November 18, 2019, the Company was assigned a "B+" with Stable Outlook debt issuer credit rating by Rating-Agentur Expert RA.

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.

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