(via Thenewswire.ca)
Calgary, Alberta / TheNewswire / June 9, 2016 - Zenith Energy Ltd. ("Zenith" or
the “Company”) is pleased to announce that the Company has agreed to issue 2,730,000 Common Shares at a
deemed price of $0.11 per Common Share, 312,500 Common shares at a price of $0.10 per Common Share and 160,000 Common shares at a
price of $0.087 per Common Share to certain debtholders and creditors of the Corporation to settle debts owing by the
Company, representing in aggregate of $345,473 (the “Share Settlement”).
The securities issued pursuant to the Share Settlement will be subject to a four month hold period.
Following closing of the Share Settlement, the Corporation will have 57,204,556 Common Shares issued
and outstanding. The Share Settlement is subject to the submission of final documentation and final approval of the TSX
Venture Exchange.
About Zenith Energy Ltd.
Zenith focuses on the acquisition and further development of proven onshore oil and gas fields
where production has declined over time, but which are capable of increased productivity following an injection of capital and
optimization through its corporate engineering and technical expertise. To maximize shareholder value, Zenith targets acquisitions
of production opportunities that offer strong logistics and close proximity to refineries and pipelines. Zenith’s management and
directors have extensive international and governmental experience and possess the technical knowledge to execute this
strategy.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is
defined in the policies of TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this
release.
Forward-Looking Statements
This news release contains forward-looking statements and forward-looking information
within the meaning of applicable securities laws. The use of any of the words "expect", "anticipate", "continue", "estimate",
"objective", "ongoing", "may", "will", "project", "should", "believe", "plans", "intends" and similar expressions are intended to
identify forward-looking information or statements. More particularly and without limitation, this news release contains
forward-looking statements and information concerning the Share Settlement. The forward-looking statements and information are
based on certain key expectations and assumptions made by Zenith, including the TSX Venture Exchange approving the Share
Settlement. Although Zenith believes that the expectations and assumptions on which such forward-looking statements and
information are based are reasonable, undue reliance should not be placed on the forward looking statements and information because
Zenith can give no assurance that they will prove to be correct. By its nature, such forward-looking information is subject to
various risks and uncertainties, which could cause the actual results and expectations to differ materially from the anticipated
results or expectations expressed. These risks and uncertainties, include, but are not limited to, the TSX Venture Exchange not
providing final approval for the Share Settlement. Readers are cautioned not to place undue reliance on this forward-looking
information, which is given as of the date hereof, and to not use such forward-looking information for anything other than its
intended purpose. Zenith undertakes no obligation to update publicly or revise any forward-looking information, whether as a result
of new information, future events or otherwise, except as required by law.
For further information, please contact:
Jose Ramon Lopez Portillo Andrea Cattaneo
Chairman of the Board CEO & President
Email: info@zenithenergy.org
Telephone: (403) 938-8154
Telefax: (403) 775-4474
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