Zenith Energy : Completion of Financing

July 10, 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 Financing has raised an aggregate total amount of approximately NOK
3,120,000 (approximately £260,000)
  
Issue Price
 
The issue price of the Financing was NOK 0.08, equivalent to approximately
£0.007 (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 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	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 Officer	Tel: [phone]
 	E-mail: [e-mail]
 
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.

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