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Zenith Energy Ltd. (“Zenith” or the “Company”) announced on Tuesday, April 28, 2026, that the Company has completed two parallel private placements in the United Kingdom and Norway, raising gross proceeds of approximately GBP 3.1m (equivalent to NOK 38.8m or USD 4.2m) through the issuance of 44,609,603 new common shares. The Norwegian placement was completed at NOK 0.87 per share and the UK placement at GBP 0.069 per share, with participation from both new and existing institutional investors as well as CEO Andrea Cattaneo and CFO Luca Benedetto. In parallel, the Company has settled outstanding debts of NOK 18.2m through the issuance of 20,964,527 shares, and entered into a new convertible loan facility of up to GBP 2m with a 12-month term. Following Admission, expected on or around May 5, 2026, the Company will have 714,756,457 common shares in issue.
Analyst Group views the financing package as a well-timed and strategically coherent event that reinforces Zenith's position across all three core value pillars: the ICSID arbitration, solar construction, and uranium development. The notably modest discount, the substantially higher issue price relative to the previous fundraise, the parallel debt settlement, and the premium-priced convertible facility together constitute a clear endorsement of the Company's strategic direction. In Analyst Group's assessment, the transaction meaningfully strengthens the capital structure, materially limits near-term dilution risk, and enhances the Company's credibility, supporting a more robust long-term equity narrative as Zenith advances through a transformative period.
Read Analyst Group’s full comment here
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This is a press release from Analyst Group regarding the publication of a comment on Zenith Energy. Readers may assume that Analyst Group has received compensation for making the comment. The Company has not been given an opportunity to influence the parts where Analyst Group has had opinions about the Company, future valuation or anything else that could be considered a subjective assessment.