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The countdown is approaching... Let’s see if Zenith can deliver on the initial arbitration.....gla

Https://www.proactiveinvestors.co.uk/companies/news/1059668/emmerson-to-seek-compensation-from-morocco-over-potash-project-rejection-1059668.html

Seems like a common theme amongst North African companies.............sigh

AC has some deep pockets......him and his director financial officer Luca Benedetto have piled in a lot of cash.............there is no way they would risk that much money if they didn't believe the arbitration was going to be a success..........IMO & Dyor

Mr. Luca Benedetto, Chief Financial Officer of Zenith, participated in the Placement by subscribing for 7,361,011 New Common Shares of no-par value in the capital of the Company.

Following the Placement, Mr. Benedetto will be directly beneficially interested in a total of 11,055,706 common shares in the capital of the Company, representing 3.02% percent of the total issued and outstanding common share capital of the Company.

Mr. Sergey Borowskiy, Director of Zenith, also participated in the Placement by subscribing for 2,831,158 New Common Shares of no-par value in the capital of the Company.

Following the Placement, Mr. Borowskiy will be directly beneficially interested in a total of 3,216,087 common shares in the capital of the Company, representing 0.88% percent of the total issued and outstanding common share capital of the Company.

ZENITH ENERGY LTD.

("Zenith" or the "Company")

Completion of Private Placement and Debt Settlement

Zenith Energy Ltd. ("Zenith" or the "Company") (LSE: ZEN; OSE: ZENA; OTC PINK: ZENAF), the listed international energy production and development company, is pleased to announce that it has completed a private placement in Norway (the "Placement") and a Debt Settlement (the "Debt Settlement").

The Placement has attracted the participation of existing investors, as well three Directors, Mr. Andrea Cattaneo, Mr. Sergey Borowskiy and Mr. Luca Benedetto, raising an aggregate total amount of approximately NOK 11,938,353 (equivalent to approx. £841,000 and US$1,092,000), resulting in the issuance of a total of 62,833,440 new Common Shares ("New Common Shares").

Issue Price

The Placement was completed at price of NOK 0.19, representing a premium to the closing price of the Company's equity securities admitted to trading on the Euronext Growth Oslo on October 25, 2024.

Use of Proceeds

The proceeds of the Placement will be used to provide additional funding in support of the Company's international arbitrations against the Republic of Tunisia, as well as for general working capital purposes.

An application for the new Common Shares to be listed on the standard segment of the FCA Official List and to be admitted for trading on the London Stock Exchange Main Market for listed securities will be made within 12 months of the issue of the new Common Shares.

Debt Settlement

The Company has issued 32,166,560 Common Shares ("Debt Settlement Shares") in settlement of certain debts in lieu of cash payment for a total value of 6,111,646 NOK (equivalent to approx. £430,000 and US$559,000).

The Debt Settlement Shares will rank pari passu in all respects with the existing common shares of the Company.

An application for the Debt Settlement Shares to be listed on the standard segment of the FCA Official List and to be admitted for trading on the London Stock Exchange Main Market for listed securities will be made within 12 months of the issue of the Debt Settlement Shares.

Warrants

The Company has issued 95,000,000 share purchase warrants (the "Warrants") exercisable at a price of NOK 0.29, applying a ratio of 1:1 in connection with the Placement Shares and Debt Settlement Shares, with a fixed duration of two years from the date of issuance.

Director Dealing/ PDMR Shareholding

Mr. Andrea Cattaneo, Chief Executive Officer & President of Zenith, has participated in the Placement by subscribing for 18,119,411 New Common Shares of no-par value in the capital of the Company.

Following the Placement, Mr. Cattaneo will be directly beneficially interested in a total of 42,548,748 common shares in the capital of the Company, representing 11.61% percent of the total issued and outstanding common share capital of the Company admitted to trading on the Euronext Growth Oslo.

Targa123 from what I gather little under $2m a year from memory I may be wrong.............I think AC will exceed that when the arbitrations are resolved...........imo

Taverham definitely worth an entry at these levels imo............you can always sell in December if result wasn't a success at a slight loss.............dyor

First arbitration should double the market cap immediately...............the second and third god knows could be 10 to 20 times if successful depending on the result and fees............if they lose the first it will be a cluster F for all of them.............my guess is 3p by December and we are more than likely to win the first arbitration imo...........dyor

I cant Paul1Deano especially as we have 3 arbitrations yet to come which will occupy us for the next 2 years................imo

These forums are now redundant...........on one hand we have a poster posting every 2% drop on the other hand we have a poster saying it is the wrong price..........a pointless read and unfortunately will repeat itself until we get good news..........which I suspect will be at least 2 months away.........so until then I think I will generally avoid these forums until the quality posters come back which have also been unfortunately scared off..............dyor

It's possible that the arbitration proceedings particularly in corrupt regions like Tunisia could be discussed in the Tunisian parliament.......seeing that it is a huge sum of money disputed............dyor

This is true the bottom cannot be found as every time we seem to think so it drops little more...............long term the price will recover and many times more with the arbitration winnings however this is not a stock to be traded imo..........dyor

" FCA have been notified regarding market manipulation on Angus buying at 0.25 and selling into volume. Will reveal names in due course. Several forum identities are associated with them. @angusenergyplc "

Interested to see who she says are manipulating the market..............dyor

And people think this stock isn't being manipulated?..............ridiculous

Paul which operations are you referring to?

I did say previously that until the money from arbitrations come in there will be doom and gloom associated with this stock...............money is needed to fund the future projects here and once we win the first arbitration this year I am expecting AC to finally add a decent asset to our portfolio.............till then I am expecting some boredom waiting but eventually our time will come..............dyor

Bubble point she is clearly in the know..........just need to see what news she is talking about...........hopefully acquisition news?

HITS can I ask why you post here if you are not invested...............just wonder

I assume they will use the money from first arbitration which is due before the year end to fund any more projects................once they secure the asset FULLY that's when the price will rectify itself...........until then we will be stuck in this 1.75-2 web which may be good for new investors......I am confident we will finally get some traction in the next couple of months..........dyor