TheNewswire / January 23, 2018 - 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, announces that the Company has agreed to issue 1,598,579 common shares (“New Common Shares”) at a deemed price of CAD$0.14 to settle a debt of US$180,000 owed by the Company (the “Share Settlement”).

The New Common Shares issued pursuant to the Share Settlement will be subject to

a contractual hold period of one year, inclusive of a four-month hold period under the rules and regulations of the TSX Venture Exchange and applicable Canadian securities laws.

 

The Share Settlement is subject to the final approval of the TSX Venture Exchange.

The Company wishes to announce, in accordance with the Financial Conduct Authority's Disclosure Guidance and Transparency Rules, the following information following Admission of the New Common Shares:

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 TSXV	149,798,698	1	149,798,698

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.

 

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 (0) 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