TIDMZEN

RNS Number : 5475B

Zenith Energy Ltd

10 January 2018

January 10, 2018

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")

Zenith Announces Closing of Private Placement

Zenith Energy Ltd., ("Zenith" or the "Company") (LSE: ZEN; TSX.V: ZEE), the dual listed international oil & gas production company operating the largest onshore oilfield in Azerbaijan, is pleased to announce that, as a result of market demand, the Company has closed a private placement to raise gross proceeds of CAD$500,000 (approximately GBP296,800) through the issue of 4,000,000 new common shares of no par value in the capital of the Company ("New Common Shares") at a price of CAD$0.125 (approximately GBP0.0742) per New Common Share with Canadian investors (the "Private Placement"). The proceeds of the Private Placement will be used to purchase equipment for the development of the Company's oil production operations in Azerbaijan.

The New Common Shares were issued yesterday, January 9, 2018, by the registrars in Canada following the submission of final documentation and approval from the TSX Venture Exchange.

The New Common Shares may not be resold in Canada, or to a resident of Canada, for a period of four months and one day. An application is expected to be made for the New Common Shares to be admitted to trading on the Main Market of the London Stock Exchange, and for them to be listed on the Standard Segment of the UK Offical List, with effect from May 10, 2018 ("Admission").

Total Voting Rights

Following the issue of the New Common Shares, the Company will have 148,200,119 common shares in issue and admitted to trading on the Toronto Stock Exchange Venture Exchange.

Zenith currently has 144,200,119 common shares in issue and admitted to trading on the Main Market of the London Stock Exchange. The above figure 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 change to their interest in, the share capital of the Company under the Financial Conduct Authority's Disclosure Guidance and Transparency Rules. A further announcement will be made closer to Admission in relation to the Total Voting Rights of the Company's common shares admitted to trading on the Main Market of the London Stock Exchage.

For further information please contact:

Zenith Energy Ltd.

Andrea Cattaneo

Chief Executive Officer

Email: info@zenithenergy.ca

Telephone: +1 (587) 315 9031

Optiva Securities - (Joint Broker)

Christian Dennis

Telephone: + 44 (0) 203 137 1903

Beaufort Securities Limited - (Joint Broker)

Jon Belliss

Telephone: +44 207 382 8300

Allenby Capital Limited - (Financial Adviser)

Nick Harriss

Nick Athanas

   Telephone:   + 44 (0) 203 328 5656

Yellow Jersey (Financial PR/IR)

Tim Thompson

Telephone: +44 (0) 203 735 8825

This information is provided by RNS

The company news service from the London Stock Exchange

END

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January 10, 2018 16:13 ET (21:13 GMT)

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