REG - Zenith Energy Ltd - Acquisition of US listed company

Zenith EnergyAnnouncement

29/08/2023 07:00

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RNS Number : 5505K  Zenith Energy Ltd  29 August 2023

August 29, 2023

ZENITH ENERGY LTD.

("Zenith" or the "Company")

Acquisition of US listed company

Zenith Energy Ltd. (LSE: ZEN; OSE: ZENA), the international energy
production and development company, is pleased to announce that it has
acquired control of Cyber Apps World Inc. ("CYAP") by way of a Securities
Purchase Agreement ("SPA") signed with Janbella Group LLC ("Seller").

Highlights

·    Zenith has acquired 100,000 Series A Preferred Shares in CYAP from
the Seller, representing 99.87% of its current total voting rights.

·    The purchase price agreed under the terms of the SPA is US$398,319.97
in cash (the "Consideration").

·    CYAP is listed on the US OTC Markets' Pink Open Market segment under
the ticker "CYAP".

·    Zenith intends to rename CYAP, will appoint a new Board of Directors
reflecting its new ownership, and will utilise CYAP for the purpose of
acquiring energy production and development opportunities in the US.

·    CYAP is currently engaged in software development. However, it is
Zenith's intention to exit this activity at the appropriate time.

 

Andrea Cattaneo, Chief Executive Officer, commented:

"We are pleased to have acquired control of a listed company in the US. Our
intention is to complete various potential acquisitions currently under review
in the US by way of CYAP, as well as attracting investment from North American
investors to finance their acquisition and future development.

We are confident that the value upside presented by a listed company in the US
newly pursuing a high-growth acquisition campaign targeting proven, revenue
generating energy production assets will resonate with North American
investors, and, at the same time, give Zenith shareholders significant
exposure to a compelling new growth story."

 

 

 

Further Information:

 Zenith Energy Ltd

Andrea Cattaneo, Chief Executive Officer     Tel: +1 (587) 315 1279

                                               E:  info@zenithenergy.ca (mailto:info@zenithenergy.ca)
 BlytheRay - Financial PR/IR                   Tel: +44 207 138 3204

 Tim Blythe, Megan Ray, Matt Bowld             E:  zenith@blytheray.com (mailto:zenith@blytheray.com)

 Allenby Capital Limited - Financial Adviser   Tel: + 44 (0) 203 328 5656

 Nick Harriss

 Daniel Dearden-Williams
 Miriad Limited - Media Enquiries              Tel: +44 7867527659

 Zak Mir                                       E: zak@zakmir.com (mailto:zak@zakmir.com)

 

 

Notes to
Editors:

Zenith Energy Ltd. is a revenue generating, independent energy company with
production, exploration and development assets in Africa, the Middle East and
Europe, including electricity generation in Italy. The Company is listed on
the London Stock Exchange Main Market (LSE: ZEN) and the Euronext Growth of
the Oslo Stock Exchange (OSE: ZENA).

Zenith's strategic focus is on pursuing development opportunities through the
development of proven revenue generating energy production assets, as well as
low-risk exploration activities in assets with existing production.

For more information, please visit:  www.zenithenergy.ca
(http://www.zenithenergy.ca)

Twitter: @zenithenergyltd

LinkedIn:  https://bit.ly/3A5PRJb (https://bit.ly/3A5PRJb)

 

 

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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