Zenith Energy Ltd - Africa and Italy-focused oil and gas company - Completes private placement in the UK and Norway. Raises GBP1.3 million in total, resulting in the issue of 37.9 million shares. Shares are priced at GBP0.03 for the UK financing and NOK0.42 for Norwegian financing.
"The proceeds of the financings will be used to fund the company's publicly announced acquisition campaign in the US, to provide additional funding for Zenith's existing production and development portfolio in Italy, as well as for general working capital purposes," Zenith says.
Current stock price: 2.80 pence
12-month change: down 61%
By Sophie Rose, Alliance News senior reporter
Comments and questions to newsroom@alliancenews.com
Copyright 2024 Alliance News Ltd. All Rights Reserved.
Zenith Energy (ZEN)