Calgary, February 20, 2020 -
Zenith Energy Ltd., ("Zenith" or the "Company"), (LSE:ZEN); (TSXV:ZEE); (OSE:ZENA-ME), the international oil & gas production company, announces that its Chief Executive Officer & President, Mr. Andrea Cattaneo, has advised the Company that he purchased a total of 350,000 common shares of no par value ("Common Shares") in the capital of the Company at an average price of GBP0.0141 (approximately CAD$0.024) per Common Share on the London Stock Exchange.
Following the aforementioned dealings, Mr. Cattaneo is directly beneficially interested in a total of 41,509,115 Common Shares in the capital of the Company, representing 7.19 per cent of the total issued and outstanding common share capital of the Company admitted to trading on the TSX Venture Exchange and Merkur Market of the Oslo Bors.
Mr. Cattaneo is also indirectly interested in a total of 480,000 Common Shares, today representing 0.08 per cent of the Company's issued and outstanding common share capital admitted to trading on the TSX Venture Exchange and Merkur Market of the Oslo Bors.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as such term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Further Information:
| Zenith Energy Ltd. | |
| Andrea Cattaneo, Chief Executive Officer | Tel: +1 (587) 315 9031 |
| E-mail: info@zenithenergy.ca |
| |
| Novum Securities Limited - Broker | Tel: + 44 (0) 207 399 9400 |
| Charlie Brook-Partridge | |
| Hugh McAlister | |
Notes to Editors :
Zenith Energy Ltd. is an international oil and gas production company, listed on the TSX Venture Exchange (TSXV: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 Bors (ZENA:ME) on November 8, 2018. The Merkur Market is a multilateral trading facility owned and operated by the Oslo Bors.
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. 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.
