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ZENA 27.02.2023 kl 22:06 54952

https://newsweb.oslobors.no/message/583710

Institutional investment in Zenith

February 27, 2023
ZENITH ENERGY LTD.

("Zenith" or the "Company")

Institutional investment in Zenith

Zenith Energy Ltd. (LSE: ZEN; OSE: ZENA), the energy company with proven revenue generating production, exploration and development assets in Africa, the Middle East and Europe, is pleased to announce that it has completed a fundraise in the United Kingdom (the "UK Financing"), and in Norway (the "Norwegian Financing", collectively, the "Financings").

The Financings have attracted the participation of existing institutional investors, including Premier Miton Investors, as well as Directors and employees of the Company, to raise an aggregate total amount of approximately £2,300,000 or NOK 28,484,580, resulting in the issuance of 437,728,088 new common shares.

Issue Price

The issue price of the Financings was £0.0054 for the UK Financing and NOK 0.067 for the Norwegian Financing.

Use of Proceeds

The proceeds of the Financings will be used to provide additional funding for the following:

• Negotiation and planned finalisation of a Production Sharing Contract for Block 1, Sèmè oilfield in Benin
• Technical and managerial appointments in view of planned operations in Yemen
• Additional funding for the development of Zenith’s Tunisian oil and Italian natural gas production portfolio
• Business development activities in Africa and the Middle East
• General working capital

Norwegian Financing

Zenith has issued a total of 378,931,792 new common shares of no-par value in the capital of the Company (“Norwegian Financing Common Shares"), to be admitted to trading on the Euronext Growth Oslo (the "Norwegian Financing Admission”) raising gross proceeds of NOK 25,388,430 (approximately £2,050,000).

An application for the Norwegian Financing Common Shares to also 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 Norwegian Financing Common Shares.

The Norwegian Financing Common Shares will rank pari passu in all respects with the existing common shares of the Company.

The Company has issued 113,679,538 share purchase warrants exercisable at a price NOK 0.094 for a duration of 3 years from the date of issue in connection with the Norwegian Financing.


UK Financing

Zenith has issued a total of 46,296,296 common shares of no-par value in the capital of the Company on the London Stock Exchange (the "UK Financing Common Shares") to raise gross proceeds of £250,000 (approximately NOK 3,096,150).

An application will be made for the UK 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 (the "UK Financing Admission").

It is expected that the UK Financing Admission will become effective and that unconditional dealings in the UK Financing Common Shares will commence on or around 8.00 a.m. (GMT) on approximately March 3, 2023.

An application will also be made for the UK Financing Shares to be admitted to trading on the Euronext Growth Oslo.
The UK Financing Shares will rank pari passu in all respects with the existing common shares of the Company.

The Company has issued 13,888,889 share purchase warrants exercisable at a price £0.0076 for a duration of 3 years from the date of issue in connection with the UK Financing.

Debt Settlement

The Company has allotted 12,500,000 Common Shares (“Debt Settlement Shares”) to a service provider in lieu of cash settlement for services provided to Zenith for a total value of £67,500.

An application will be made for the Debt Settlement 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 (the "Debt Settlement Admission"). An application will also be made for the Debt Settlement Shares to be admitted to trading on the Euronext Growth Oslo.

The Debt Settlement Shares will rank pari passu in all respects with the existing common shares of the Company.
It is expected that the Debt Settlement Admission will become effective and that unconditional dealings in the Debt Settlement Shares will commence on or around 8.00 a.m. (GMT) on approximately March 3, 2023.

Director Dealing/ PDMR Shareholding

Mr. Andrea Cattaneo, Chief Executive Officer & President of Zenith, has subscribed for 64,695,672 common shares of no-par value in the capital of the Company in connection with the Norwegian Financing.

Upon the Norwegian Financing Admission, Mr. Cattaneo will be directly beneficially interested in a total of 167,163,912 Common Shares in the capital of the Company, representing 7.24% percent of the total issued and outstanding common share capital of the Company.

Mr. Luca Benedetto, Chief Financial Officer of Zenith has subscribed for 27,726,716 common shares of no-par value in the capital of the Company in connection with the Norwegian Financing.

Upon the Norwegian Financing Admission, Mr. Benedetto will be directly beneficially interested in a total of 27,726,716 common shares in the capital of the Company, representing 1.20% percent of the total issued and outstanding common share capital of the Company.

Total Voting Rights

The Company wishes to announce, in accordance with the Financial Conduct Authority's Disclosure Guidance and Transparency Rules and section 3.10 of the Euronext Growth Oslo Rule Book Part II, the following revised information resulting from completion of the Financings.

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 upon the UK Financing Admission. 1,931,370,745 1 1,931,370,745
Common Shares in issue and admitted to trading on the Euronext Growth Market of the Oslo Børs, representing the newly enlarged outstanding share capital of the Company.
2,310,302,537 1 2,310,302,537

Andrea Cattaneo, Chief Executive Officer, commented:

“We are pleased to have attracted the continued support of long-term institutional investors, including Premier Miton, to the fundraise.

Our confidence in the Company’s future successful development remains unchanged and is evidenced by the material commitment made by management to the fundraise.

There are various potentially transformational value catalysts during the course of 2023. To this end, the Zenith team is working tirelessly towards successfully achieving our objectives for the benefit of all shareholders.”
Redigert 27.02.2023 kl 22:07 Du må logge inn for å svare
Pessimist1
05.03.2023 kl 13:15 3652

Minner også om at det har vært mange avtaler på trappene når ting har blitt utsatt tidligere også. Har dog ikke materialisert seg.
BMU
05.03.2023 kl 13:24 3637

There is funny thing have destiny plays in to our life. It will be if it was meant too be. I always say to myself,, some lessons are only meant to teach ", ,, You baked the cake and somebody else is eating" or ,,Like dog chasing the tir or whel".I strongly believe that this is not the case with zenith. I believe more that,, Man does everything he can until he's dasteny is fulffilled". And that's it's good enough for me.
Redigert 05.03.2023 kl 13:42 Du må logge inn for å svare
Slettet bruker
05.03.2023 kl 17:41 3516

Fortsatt er kistne ved enden av regnbuen neste tomme ...

Redigert 05.03.2023 kl 17:41 Du må logge inn for å svare
Viking_I
06.03.2023 kl 09:34 3193

Its all about dates, Tilapia II also come as per prediction but other way. Every time it cant be negative result Yemen is totally different story as per leaks and Benin is as per schedule. I am not asking to buy but don't sell at this price wait until 1 more week.

New shareholders at this stage can double to fivefold the money in coming weeks with Yemen.
Redigert 06.03.2023 kl 09:36 Du må logge inn for å svare
jantt
06.03.2023 kl 12:00 3051

Nu må faldet gerne snart stoppe !!
Sia
06.03.2023 kl 12:15 3002

Kursraset stopper ikke før det kommer noe positivt fra AC, så hold deg fast;-)
jantt
06.03.2023 kl 12:23 2974

Bare han så kommer med noget mega positivt meget snart
Viking_I
06.03.2023 kl 12:26 3005

Wait until next until week 15th March for Benin may be Yemen come before Benin. As per news from Yemen news OMV correspondent they will close deal as early as possible.
Also possible oil sale news in future also can make change everything. .......................will take course to kr 0.1
Redigert 06.03.2023 kl 12:28 Du må logge inn for å svare
jantt
06.03.2023 kl 12:54 2964

Vi ved ikke om der kommer positivt fra Benin eller Yemen eller om hvornår det kommer.
HVIS der kommer positivt håber jeg at vi kommer over 0,15
uritse
06.03.2023 kl 13:10 2942

Komme over 0,15??? Vet du hvor mange aksjer det er i ZENA??? Vet du historien om ZENA???
jantt
06.03.2023 kl 13:16 2934

Ja og sidste efterår var den i 0,14, så HVIS Benin eller Yemen kommer så skal den da derop
Viking_I
06.03.2023 kl 13:23 2988

Yemen with only S2 field is kr 0.29 worth (if considered only market announcement 2P reserve 30MMbbls ) if go with Geologist it is worth kr 1.79 (2P - 160MMbbls) with 2.31 billion shares.

Yemen - kr 0.29 or 1.79 (S2 only ) - $11 million investment
Tunisia is kr 0.136 -- $3.5 million investment
Italy is kr 0.11 - $2 million investment
Benin is kr 1.5 - $15 million investment
Redigert 06.03.2023 kl 13:26 Du må logge inn for å svare
Viking_I
06.03.2023 kl 13:53 3067

Nice and cheap chance to enter for new one upt0 0.07 ..................5 fold chance to increase with Yemen and Benin in Easter.
Redigert 06.03.2023 kl 13:54 Du må logge inn for å svare
Barneskirenn
06.03.2023 kl 13:57 3096

Hva var det egentlig AC forsøkte å formidle/formidlet angående Congo?

1. At det er et krav der de forfølger, og at det potensielt kan bidra til å diskutere PSA for et annet felt i landet..? (dvs. sikkert 1-3år før det blir done deal)
2. At de allerede har diskutert andre felt (uavhengig av tlp2), og muligens har signert PSA som venter på å bli vedtatt av parlamentet (decret)?

For omtrent 2 år siden, så hadde AC møte i Congo. Og da skrev han på twitter at Zenith følger opp/jakter muligheten for ytterligere lisenser i landet (som det har blitt diskutert på forumet tidligere). Noen som vet?
Barneskirenn
06.03.2023 kl 14:01 3114

https://www.zenithenergy.ca/about/strategy/

Zenith har oppdatert nettsiden ser jeg.
Viking_I
06.03.2023 kl 14:03 3111

Wild guessing, but around 30 field passed in August/Sep in parliament they are announcing 4 to 5 field each ministerial meeting.
As per AC after Tilapia chapter he will announce it after final announcement like Tilapia.
https://www.lse.co.uk/rns/ZEN/joint-venture-agreement-for-acquisition-ivfwy2cq5d39h7k.html
Redigert 06.03.2023 kl 14:14 Du må logge inn for å svare
Sia
06.03.2023 kl 15:47 2991

Vel vel være merkelig om han holder på i Congo fortsatt, ettersom congo ble øyeblikkelig fjernet fra nettsiden, da TLP2 gikk i vasken.
Viking_I
06.03.2023 kl 16:01 2970

14 days of cooling period ends at 14th March and 90 days finish for Benin on 15th March.
large hidden order of 5 million to buy of 25000 -0.0633
moved to 0.0601 to avoid detection .................
Redigert 06.03.2023 kl 16:24 Du må logge inn for å svare
Slettet bruker
06.03.2023 kl 16:03 3001

Jeg tviler sterkt på om Zenith får igjennom noe krav i Congo
Viking_I
06.03.2023 kl 16:05 3069

Here is hidden order owner ............all selling order to create pressure but it ......its cheaper Congo money is worth kr 0.065 per share price.
Money is not going through ACs pocket so he let it go to SNPC..............
AC will get field of 1000 to 2000 bopd in Congo soon..........keep eye on ministerial meeting summary.
Redigert 06.03.2023 kl 16:22 Du må logge inn for å svare
Sia
06.03.2023 kl 16:12 3111

Enig det er i så fall langtidsplan, men at han ikke klarer å formidle hvorfor det ikke blir satt borr i bakken på ROB lisensen er meg en gåte .At det ikke blir informert hvorfor etter 2 utsettelser gjør jo bare at usikkerheten vokser og det synes på kursen.
Galv
06.03.2023 kl 18:03 2976

Jantt

Congo still 15 m us or like viking say -new field with 2000-3000 barrels- good news coming 🛢🤙💵
jantt
06.03.2023 kl 18:14 3068

The 15 mil they will never get. Talking about new field in Congo is something they should stay away from after the stunt in Talipia.
Hektor
06.03.2023 kl 18:33 3028

Oppdatert nettside, men ikke fjernet Congo under operation. Page not found :)
kurthelg
06.03.2023 kl 20:06 2861

Congo siden var borte et par dager, er som du sier kommet tilbake nå. Men «Page not found» Hva det betyr at de har lagt til Congo på nettsiden igjen er det vel ingen som vet.
Hektor
06.03.2023 kl 20:14 2831

Tror den bare er fjernet på home Page. Er muligens noen som har gjort en slett jobb. Tok meg ihvertfall noen sekunder og sjekke etter feil på nettsiden. Ellers fin design.
tsu for all
07.03.2023 kl 04:02 2531

Andrea Cattaneo eier nå 167.163.912 aksjer , som er 7,24 % av alle aksjer = verdi 10,6 millioner - kurs a 0,064
Redigert 07.03.2023 kl 04:09 Du må logge inn for å svare
jantt
07.03.2023 kl 05:32 2509

Han må jo tro på det
tsu for all
07.03.2023 kl 07:41 2408

Åpner på 0,08 minst
Viking_I
07.03.2023 kl 09:08 2290

Robot trading will take place soon .............few buys course will cross 0.07
yesterdays seller placing bid at 0.0502 - 25000 upto 5 million hidden volume
Redigert 07.03.2023 kl 09:10 Du må logge inn for å svare
tsu for all
07.03.2023 kl 09:17 2250

Hvem selger nå, utrolg ! AC har gjennom kjøp av mye aksjer, fasitt for framtiden
Fikk solgt på tap og fikk 5 % mer aksjer på 0,642 :)...konto tom nå....låner aldri for kjøp av aksjer
Hold på aksjene, 2023 blir kanon år, viss alt stemmer av opplysninger, vi har fått
tsu for all
07.03.2023 kl 09:17 2313

Hvem selger nå, utrolg ! AC har gjennom kjøp av mye aksjer, fasitt for framtiden
Fikk solgt på tap og fikk 5 % mer aksjer på 0,642 :)...konto tom nå....låner aldri for kjøp av aksjer
Hold på aksjene, 2023 blir kanon år, viss alt stemmer av opplysninger, vi har fått