TIDMZEN
RNS Number : 2398A
Zenith Energy Ltd
20 January 2020
January 20, 2020
The information contained within this announcement is deemed by
the Company to constitute inside information as stipulated under
the Market Abuse Regulation (EU) No. 596/2014 ("MAR"). Upon
publication of this announcement via a regulatory information
service ("RIS"), the inside information contained in this document
is now considered to be in the public domain.
ZENITH ENERGY LTD.
("Zenith" or the "Company")
EUR 25 million EMTN Programme
Zenith Energy Ltd., ("Zenith" or the "Company"), (LSE: ZEN;
TSX.V: ZEE; OSE: ZENA-ME), the international oil & gas
production company, is pleased to announce the upcoming issuance of
the following unsecured, multi-currency Euro Medium Term Notes at
par value (the "Notes"):
-- EURO 1,000,000 bearing an interest of 10.125 per cent per year (the "EUR-Notes")
-- GBP 1,000,000 bearing an interest of 10.50 per cent per year (the "GBP-Notes")
-- USD 1,000,000 bearing an interest of 10.375 per cent per year (the "USD-Notes")
-- CHF 1,000,000 bearing an interest of 10.00 per cent per year (the "CHF-Notes")
The subscription period will commence on January 21, 2020. The
intended issue date of the Notes is January 27, 2020.
The Notes will be issued under Zenith's EUR 25,000,000
multi-currency Euro Medium Term Notes Programme, as announced by
the Company on November 6, 2019, and will be due on January 27,
2024. The Notes will be admitted to trading on the Third Market
(MTF) of the Vienna Stock Exchange ("Wiener Borse AG").
The Notes are governed by Austrian law and, since the Notes are
not convertible into equity of Zenith, the issuance of the Notes is
not subject to the approval of the TSX Venture Exchange in
Canada.
The issue of the Notes is aligned with the Company's strategy of
diversifying its financing towards non-equity dilutive funding to
support its successful development.
Important note: This press release does not, and shall not, in
any circumstances constitute a public offering by ZENITH ENERGY LTD
of the Notes nor an invitation to the public in connection with any
offer. No communication and no information in respect of the
issuance of the Notes may be distributed to the public in any
jurisdiction where a registration or approval is required. No steps
have been or will be taken in any jurisdiction where such steps
would be required. The offering or purchase of the Notes may be
subject to specific legal or regulatory restrictions in certain
jurisdictions. ZENITH ENERGY LTD takes no responsibility for any
violation of any such restrictions by any person.
This press release is an advertisement and not a prospectus
within the meaning of Regulation (EU) 2017/1129 of the European
Parliament and of the Council of 14 June 2017 on the prospectus to
be published when securities are offered to the public or admitted
to trading on a regulated market (the "Prospectus Regulation").
The Notes will be offered on the basis of the base prospectus
for the EUR 25,000,000 Euro Medium Term Note Program of ZENITH
ENERGY LTD dated 5 November 2019 and its supplements which together
constitute a base prospectus (the "Base Prospectus") and the final
terms prepared by the Issuer in connection with the issuance of the
respective Notes. A public offer of the Notes may take place only
in countries to which the Base Prospectus has been passported. The
Base Prospectus has been approved by the Austrian Financial Market
Authority FMA and passported to Germany, Italy, Luxembourg, France,
United Kingdom of Great Britain, Belgium, Netherlands, Spain,
Sweden, Ireland and Malta. The sales restrictions as described in
the Base Prospect shall apply.
This press release does not constitute an offer to sell or a
solicitation of an offer to purchase any securities in the United
States. The Notes have not been and will not be registered under
the U.S. Securities Act of 1933, as amended (the "Securities Act")
or the laws of any state within the U.S., and may not be offered or
sold in the United States or to or for the account or benefit of
U.S. Persons, except in a transaction not subject to, or pursuant
to an applicable exemption from, the registration requirements of
the Securities Act or any state securities laws. This press release
and the information contained herein may not be distributed or sent
into the United States, or in any other jurisdiction in which
offers or sales of the Notes would be prohibited by applicable laws
and should not be distributed to United States persons or
publications with a general circulation in the United States. No
offering of the Notes has been made or will be made in the United
States.
Further Information:
Zenith Energy Ltd
Andrea Cattaneo, Chief Executive Officer Tel: +1 (587) 315 9031
-----------------------------
E-mail: info@zenithenergy.ca
-----------------------------
Novum Securities Limited - Joint Broker Tel: + 44 (0) 20 7399
9400
-----------------------------
Charlie Brook-Partridge
-----------------------------
Hugh McAlister
-----------------------------
IFC Advisory Limited - Financial PR Tel: + 44 (0) 20 3934
& IR 6630
-----------------------------
Graham Herring
-----------------------------
Zach Cohen
-----------------------------
Notes to Editors:
Zenith Energy Ltd. is an international oil and gas production
company, listed on the TSX Venture Exchange (TSX.V:ZEE) and London
Stock Exchange(LSE:ZEN). In addition, the Company's common share
capital was admitted to trading on the Merkur Market of the Oslo
Børs (ZENA:ME) on November 8, 2018. The Merkur Market is a
multilateral trading facility owned and operated by the Oslo
Børs.
The Company was assigned a medium to long-term issuer credit
rating of "B+ with Positive Outlook" on October 9, 2019 by Arc
Ratings, S.A. On November 18, 2019, the Company was assigned a "B+"
with Stable Outlook debt issuer credit rating by Rating-Agentur
Expert RA.
The Company operates the largest onshore oilfield in Azerbaijan
by cumulative acreage following the signing of a 25-year REDPSA,
(Rehabilitation, Exploration, Development and Production Sharing
Agreement), with SOCAR, State Oil Company of the Republic of
Azerbaijan, in 2016.
The Company's primary focus is the development of its Azerbaijan
operations by leveraging its technical expertise and financial
resources to maximise low-cost oil production via a systematic
field rehabilitation programme intended to achieve significantly
increased revenue. Zenith also operates, or has working interests
in, a number of natural gas production concessions in Italy. The
Company's Italian operations produce natural gas, condensate and
electricity.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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