Update on Previous Debt for Equity Announcement

RNS Number : 3689Z

Zenith Energy Ltd

14 March 2017

 

Update on Previous Debt for Equity Announcement of March 1, 2017

Calgary, Alberta, March 14, 2017, Zenith Energy Ltd. ("Zenith" or the "Company") (LSE: ZEN; TSX.V: ZEE) the dual listed international oil & gas production company is pleased to announce that the Corporation has now issued 505,263 common shares in the capital of the Corporation ("Common Shares") at a deemed price of $0.1425 per Common Share, to settle certain debts owing by the Corporation (the "Share Settlement"). The Share Settlement was previously announced by the Corporation on March 1, 2017, and indicated the Corporation had agreed to issue 675,000 Common Shares, but due to recent increases in the price of the Common Shares the Company was only permitted, under the rules of the TSX Venture Exchange, to issue 505,263 Common Shares. The Company further confirms that the debts have been fully paid, with the balance being settled in cash.

The Common Shares issued pursuant to the Share Settlement are subject to a four-month hold period.
 

For further information, please contact:

José Ramón López-Portillo                 Chairman

Andrea Cattaneo                                CEO & President

Email: [e-mail]

Telephone:  [phone]

Telefax:      [phone]

 

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