September
18, 2024
ZENITH ENERGY
LTD.
("Zenith" or the
"Company")
Payment of Outstanding Notes
of 2024 Bond - Update
Zenith Energy
Ltd. (LSE: ZEN; OSE:
ZENA; OTCQB: ZENAF), the international energy
production and development company, is pleased to provide an update
following the regulatory news announcement dated August 20, 2024,
regarding the payment of Outstanding Notes of 2024 Bond, in
relation to the successful conclusion of the last Bond
Exchange Offer announced on April 22, 2024 (the "Bond Exchange"), preceded by the first
Bond Exchange Offer announced on January 25, 2024, both
attracting significant support and investor participation
(collectively, the "Exchanges").
By way of background, the Exchanges
were directed to Noteholders (the "Noteholders") of the following
unsecured debt instruments that matured on January 27,
2024 (the "Outstanding
Notes"):
· Euro
10.125% Notes due on 27 January
2024 (XS2108546735)
· USD
10.300% Notes due on 27 January
2024 (XS2108546651)
· GBP
10.375% Notes due on 27 January
2024 (XS2108546578)
Payment in cash to Noteholders who did not participate in the
Exchanges
Those Noteholders who did not
participate in the Exchanges will receive settlement of the
Outstanding Notes and accrued interest by way of cash (the
"Remaining Outstanding
Notes").
The Company gives notice that
the Remaining Outstanding Notes will be paid as follows:
·
October 31, 2024, in the amount of 20% (twenty
percent) of the Remaining Outstanding Notes,
·
December 28, 2024, in the amount of 20% (twenty
percent) of the Remaining Outstanding Notes, and
·
February 28, 2025, payment of the balance of the
Remaining Outstanding Notes and all the accrued interest, until
this date.
Further Information:
|
Zenith Energy Ltd
Andrea Cattaneo, Chief Executive Officer
|
Tel: +1 (587) 315 1279
E: info@zenithenergy.ca
|
Notes to Editors:
Zenith Energy Ltd. is a revenue
generating, independent energy company with energy production,
exploration and development assets in North Africa, the US
and Europe. The Company is listed on the London Stock Exchange
Main Market (LSE: ZEN), the Euronext Growth of the Oslo Stock
Exchange (OSE: ZENA) and the Venture Market of
the OTCQB (OTCQB: ZENAF).
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
Twitter: @zenithenergyltd
LinkedIn: https://bit.ly/3A5PRJb