IN BRIEF: Zenith Energy closes GBP2.9 million placement, settles debts
Zenith Energy Ltd - Oil and gas company focused on assets in Africa and Italy - Completes private placement in Norway and a debt settlement. Notes participation of Chief Executive Officer Andrea Cattaneo, Chief Financial Officer Luca Benedetto and Non-Executive Director Sergey Borovskiy. Raises approximately GBP2.9 million through issuing 30.3 million shares at NOK1.34, about 0.095 pence. Says this represents a 22% discount to closing price on Euronext Growth Oslo on Friday. Says the proceeds will be used for working capital purposes and any potential funding needs in relation to its international legal arbitrations against the Republic of Tunisia. Says that following admission of the shares Cattaneo, Benedetto and Borovskiy will own 11%, 3.1% and 1.3% of firm's share capital respectively. Read More