Zenith Energy Ltd Completion of Financing (7218S)
July 10 2020 - 11:31AM
UK Regulatory
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
IOEURUVRRWUBAAR
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