22nd Mar 2021 14:15
Zenith Energy Ltd - oil & gas production company focused on Africa - Completes a private placement in Norway. The company issues 75 million new shares for a total of NOK8.6 million - about GBP725,000. The subscription price of NOK0.115 represents a discount of 8.7% in respect of the closing price of the company's shares admitted to trading on the Euronext Growth of the Oslo Stock Exchange on Friday last week.
Zenith says proceeds from the Offering will be deployed to fund planned field development activities to be performed in the Ezzaouia concession following the acquisition of Ecumed Petroleum Zarzis Ltd, as well as providing additional general working capital to support Zenith's development activities.
Current stock price: 1.07 pence, down 2.5% on Monday
Year-to-date change: down 19%
By Evelina Grecenko; [email protected]
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