TIDMZEN

RNS Number : 2727U

Zenith Energy Ltd

23 October 2017

October 23, 2017

The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulation (EU) No. 596/2014 ("MAR").

ZENITH ENERGY LTD.

("Zenith" or the "Company")

Exercise of Warrants

Zenith Energy Ltd. ("Zenith" or the "Company") (LSE: ZEN; TSX.V: ZEE), the dual listed international oil & gas production company operating the largest onshore oilfield in Azerbaijan, is pleased to announce that an investor in the Company has exercised warrants to acquire 1,306,050 new common shares of no par value (the "Warrant Shares") in the capital of the Company on October 20, 2017. The exercise price of the warrants was CAD$0.20 per share, and the total consideration received CAD$261,210 (approximately GBP159,570).

The Warrant Shares will be issued today, October 23, 2017, by the registrars in Canada.

An application will be made for the Warrant Shares to be admitted to trading on the Main Market of the London Stock Exchange, and for them to be listed on the Standard Segment of the UK Official List, both with effect from October 30, 2017 ("Admission").

Total Voting Rights

Following Admission of the Warrant Shares, the Company will have 133,787,977 common shares in issue and admitted to trading on the Main Market of the London Stock Exchange and the Toronto Stock Exchange Venture Exchange. The above figure may be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or change to their interest in, the share capital of the Company under the Financial Conduct Authority's Disclosure Guidance and Transparency Rules.

Advisers to the Company

Following the appointment of Beaufort Securities Limited as the Company's joint broker, announced on October 19, 2017, Allenby Capital Limited has become the Company's financial adviser.

For further information, please contact:

Zenith Energy Ltd.

Andrea Cattaneo

Chief Executive Officer

Email: info@zenithenergy.ca

Telephone: +1 (587) 315 9031

   Telefax:       +1 (403) 775 4474

Optiva Securities - (Joint Broker)

Christian Dennis

Telephone: + 44 (0) 203 137 1903

Beaufort Securities Limited - (Joint Broker)

Jon Belliss

Telephone: +44 207 382 8300

Allenby Capital Limited - (Financial Adviser)

Nick Harriss

Nick Athanas

Richard Short

   Telephone:   + 44 (0) 203 328 5656

Yellow Jersey (Financial PR/IR)

Tim Thompson

Telephone: +44 (0) 203 735 8825

This information is provided by RNS

The company news service from the London Stock Exchange

END

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October 23, 2017 02:00 ET (06:00 GMT)

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