Zenith Energy Ltd Conditional Approval of Canadian Financing (4905V)
April 08 2019 - 11:45AM
UK Regulatory
TIDMZEN
RNS Number : 4905V
Zenith Energy Ltd
08 April 2019
April 8, 2019
ZENITH ENERGY LTD.
("Zenith" or the "Company")
Conditional Approval of Canadian Financing
Zenith Energy Ltd. ("Zenith" or the "Company") (LSE: ZEN; TSX.V:
ZEE; OSE: ZENA-ME) the listed international oil & gas
production company operating the largest onshore oilfield in
Azerbaijan, is pleased to announce that it has received conditional
approval from the TSX-V for the issue of equity in Canada (the
"Canadian Financing"), announced on April 2, 2019.
The Company can confirm that the common shares ("New Common
Shares") associated with the Canadian Financing were issued on
April 5, 2019 following submission of the necessary
documentation.
The Canadian Financing remains subject to final approval from
the TSX-V.
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as such term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
Further Information:
Zenith Energy Ltd Tel: +1 (587) 315 9031
Andrea Cattaneo, Chief Executive E-mail: info@zenithenergy.ca
Officer
-----------------------------
Optiva Securities - Joint Broker Tel: + 44 (0) 203 981
4179
-----------------------------
Christian Dennis
-----------------------------
Jonathan Brown
-----------------------------
Peterhouse Capital - Joint Broker Tel: + 44 (0) 207 469
0930
-----------------------------
Lucy Williams
-----------------------------
Charles Goodfellow
-----------------------------
Allenby Capital Limited - Financial Tel: + 44 (0) 203 328
Adviser 5656
-----------------------------
Nick Harriss
-----------------------------
Nick Athanas
-----------------------------
IFC Advisory - Financial PR & IR Tel: + 44 (0) 203 934
6630
-----------------------------
Graham Herring
-----------------------------
Miles Nolan
-----------------------------
Zach Cohen
-----------------------------
Notes to Editors:
Zenith Energy Ltd. is an international oil and gas production
company, listed on the TSX Venture Exchange (TSX.V:ZEE) and London
Stock Exchange (LSE:ZEN). In addition, the Company's common share
capital was admitted to trading on the Merkur Market of the Oslo
Børs (ZENA:ME) on November 8, 2018. The Merkur Market is a
multilateral trading facility owned and operated by the Oslo
Børs.
The Company was assigned a medium to long-term issuer credit
rating of "B+ with Positive Outlook" on October 8, 2018 by Arc
Ratings, S.A.
The Company operates the largest onshore oilfield in Azerbaijan
following the signing of a 25-year REDPSA, (Rehabilitation,
Exploration, Development and Production Sharing Agreement), with
SOCAR, State Oil Company of the Republic of Azerbaijan, in
2016.
The Company's primary focus is the development of its Azerbaijan
operations by leveraging its technical expertise and financial
resources to maximise low-cost oil production via a systematic
field rehabilitation programme intended to achieve significantly
increased revenue. Zenith also operates, or has working interests
in, a number of natural gas production concessions in Italy. The
Company's Italian operations produce natural gas, condensate and
electricity.
Zenith's development strategy is to identify and rapidly seize
value-accretive hydrocarbon production opportunities in the onshore
oil & gas sector. 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
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