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Beskrivning

LandKanada
ListaEuronext Growth Oslo
SektorRåvaror
IndustriOlja & gas
Zenith Energy är verksamma inom olje- och gassektorn. Bolaget är specialiserade inom prospektering samt vidare utvinning av olja- och naturgas. Störst andel av förnödenheterna består av råolja. Verksamhet återfinns inom Mellanöstern samt inom Azerbajdzjan där bolaget förfogar över större produktionsanläggningar. Kunderna består huvudsakligen av stora industriella aktörer runtom den globala marknaden.
2020-06-09 18:59:54
June 9, 2020
 
 
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 Company is pleased to confirm that the Financing has been fully subscribed.
 
The Financing has attracted the participation of existing private and
institutional investors, to raise an aggregate total amount of approximately NOK
7,600,000 (approximately £645,000)
  
Issue Price
 
The issue price of the Financing was NOK 0.095, equivalent to approximately
£0.008 (0.8 pence).
 
Use of Proceeds
 
The proceeds of the Financing will be used to fund 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 80,000,000 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 of shares	 
Number of voting rights per share	 
Total number of voting rights per class of 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	792,072,921	1	792,072,921
 


Debt Issuer Credit Rating 

Rating-Agentur Expert RA ("RAEX") has assigned Zenith a downgraded "B-" with
Developing Outlook debt issuer credit rating in view of the recent volatility in
oil prices as a result of the COVID-19 pandemic, as well as the pending
completion of Zenith’s publicly announced acquisitions. 


Further Information:
 
Zenith Energy Ltd. 	
Andrea Cattaneo, Chief Executive Officer	Tel: +1 (587) 315 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.