Zenith Energy Ltd Closing of Private Placement in Canada (5475B)
January 10 2018 - 3:14PM
UK Regulatory
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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