Zenith Energy Ltd - oil & gas production company focused on Africa - Says it has entered into a loan agreement with Winance, a Dubai registered single-family office, for a total amount of EUR2.1 million. The loan agreement has a duration of six months and does not attract interest.
"We are very pleased to have concluded our first financing agreement with Winance. This is fruit of the considerable effort made by Zenith's management team in developing our funding strategy with emphasis towards Arab and Middle Eastern financial markets," says Chief Executive Officer Andrea Cattaneo.
"The company will use the funds obtained from the Loan to commence its near-term operational objectives in Tunisia, as well as providing additional capital for potential acquisitions that the Company may seek to complete. We shall update the market in due course regarding our operational programme in Tunisia," adds Cattaneo.
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By Arvind Bhunjun; arvindbhunjun@alliancenews.com
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Zenith Energy (ZEN)