Zenith Energy Ltd Exercise of Warrants (2526X)
April 30 2021 - 5:32AM
UK Regulatory
TIDMZEN
RNS Number : 2526X
Zenith Energy Ltd
30 April 2021
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES
OF REGULATION 11 OF THE MARKET ABUSE (AMENDMENT) (EU EXIT)
REGULATIONS 2019/310.
April 30, 2021
ZENITH ENERGY LTD.
("Zenith" or the "Company")
Exercise of Warrants
Zenith Energy Ltd. ("Zenith" or the "Company") (LSE: ZEN; OSE:
ZENA), the listed international oil & gas production company
focused on pursuing African development opportunities, is pleased
to announce that an investor in the Company has exercised warrants
to acquire a total of 45,000,000 new common shares of no par value
(the "Warrant Shares") in the capital of the Company with an
exercise price of NOK 0.12 (approximately GBP0.01) for a total
consideration of 5,400,000 NOK (approximately GBP450,000).
Admission of the Warrant Shares to the Euronext Growth of the
Oslo Stock Exchange is expected to take place today, May 3, 2021.
The Warrant Shares will rank pari passu in all respects with the
existing common shares of the Company.
A n application for the Warrant 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 date.
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 issuance of the
Warrant Shares.
Class of share Total number Number Total number of
of shares of voting voting rights
rights per class of share
per 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 Euronext Growth
Market of the Oslo
Børs - representing
the total outstanding
common share capital
of the Company 1,208,889,331 1 1,208,889,331
--------------- ------------ ---------------------
Andrea Cattaneo, Chief Executive Officer of Zenith,
commented:
"We are pleased to see sustained investor confidence in Zenith
as we deliver on our development objectives.
The Company is currently developing a number of alternative
financing avenues, including the sale and pre-financing of future
oil production from our newly acquired Tunisian production assets,
to ensure that we do not need to raise additional capital via
private placements until the end of Q2 and potentially beyond."
Further Information:
Zenith Energy Ltd
Andrea Cattaneo, Chief Executive Officer Tel: +1 (587) 315 9031
-----------------------------
E-mail: info@zenithenergy.ca
-----------------------------
Allenby Capital Limited - Financial Adviser
& Broker
-----------------------------
Nick Harriss Tel: + 44 (0) 203 328
Nick Athanas 5656
-----------------------------
Notes to Editors :
Zenith Energy Ltd. is an international oil and gas production
company, listed on the London Stock Exchange (LSE:ZEN) and the
Euronext Growth Market of the Oslo Stock Exchange (OSE:ZENA).
Zenith's development strategy is to identify and rapidly seize
value-accretive hydrocarbon production opportunities in the oil
& gas sector, specifically in Africa.
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END
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