REG - Zenith Energy Ltd - Debt repayment

Zenith Energy (CA)Announcement

04/03/2022 10:45

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RNS Number : 6920D  Zenith Energy Ltd  04 March 2022

March 4, 2022

ZENITH ENERGY LTD.

("Zenith" or the "Company")

Debt repayment

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 it has now
fully repaid an unsecured convertible loan facility with a consortium of
lenders (the "Convertible Loan"), first announced on January 7, 2019,
subscribed for a total principal amount of approximately £647,500 (equivalent
to NOK 7,700,000).

Luca Benedetto, Chief Financial Officer of Zenith, commented:

"Our significantly increased revenue generation and associated profitability
has enabled the Company to progressively reduce its exposure to debt and
improve its balance sheet.

We shall look to continue this exercise as we generate additional financial
resources by maximising our energy production activities across the
portfolio."

Further Information:

 

 Zenith Energy Ltd

Andrea Cattaneo, Chief Executive Officer       Tel: +1 (587) 315 9031

                                                 E:  info@zenithenergy.ca (mailto:info@zenithenergy.ca)
 Allenby Capital Limited - Financial Adviser

Nick Harriss                                   Tel: + 44 (0) 203 328 5656

 Nick Athanas
 Alternative Resource Capital - Broker

Alex Wood                                      Tel: +44 (0) 207 186 9004

 Keith Dowsing                                   Tel: + 44 (0) 207 186 9005
 Celicourt Communications (Financial PR)         Tel: +44 (0) 208 434 2643

Mark Antelme                                   E:  zenithenergy@celicourt.uk (mailto:zenithenergy@celicourt.uk)

 Jimmy Lea

 

 

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 complete
value-accretive hydrocarbon production opportunities in the oil & gas
sector, specifically in Africa.

Follow us on LinkedIn: https://www.linkedin.com/company/zenith-energy-limited/

 

Market Abuse Regulation (MAR) Disclosure

The information contained within this announcement is deemed by the Company to
constitute inside information as stipulated under the Market Abuse Regulations
(EU) No. 596/2014 as it forms part of UK domestic law by virtue of
the European Union (Withdrawal) Act 2018 (" MAR "). Upon the publication of
this announcement via a Regulatory Information Service ("RIS"), this inside
information is now considered to be in the public domain.

 

 

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