Zenith Energy Ltd., the international energy production and development company listed on multiple global exchanges, has announced the successful exercise of warrants by a group of investors, including one of its Non-Executive Directors. The transaction, finalised on 3 August 2025, has resulted in gross proceeds of approximately USD 308,000 (equivalent to roughly NOK 3.12 million or GBP 228,000), reinforcing the company’s capital structure and signalling continued investor confidence in its strategic direction.
The warrant exercise has led to the issuance of 10,761,158 new common shares in the capital of Zenith Energy (the “Warrant Shares”), priced at NOK 0.29 per share. This price was previously outlined in the regulatory announcement issued on 28 October 2024. The funds raised are expected to support the company’s ongoing development and operational initiatives across its energy assets in North Africa, the United States, and Europe.
A formal application will be submitted within the coming 12 months to list the Warrant Shares on the Equity Shares (Transition) category of the Official List and for trading on the Main Market of the London Stock Exchange. Upon admission, the newly issued shares will rank pari passu with the company’s existing common shares in all respects, offering equal voting and dividend rights.
Among the investors who participated in this round of warrant exercises is Mr. Sergey Borovskiy, a Non-Executive Director of the company. Mr. Borovskiy has acquired 314,552 shares, increasing his direct beneficial holding in Zenith Energy to a total of 8,550,488 common shares. This represents approximately 1.70% of the company’s issued and outstanding share capital. This disclosure complies with the Financial Conduct Authority’s Disclosure Guidance and Transparency Rules, as well as relevant provisions of the Euronext Growth Oslo Rule Book Part II.
Following the issuance of the Warrant Shares, Zenith Energy’s share capital has been adjusted accordingly. The total number of common shares in issue and admitted to trading on the Main Market of the London Stock Exchange now stands at 328,482,086. Concurrently, 503,985,620 shares are listed and trading on the Euronext Growth Market of the Oslo Børs, each with one vote per share. This brings the total number of voting rights across all listed shares to 832,467,706.
Zenith Energy continues to pursue a strategy focused on developing proven revenue-generating energy production assets, complemented by low-risk exploration activities. The company is headquartered in Canada and maintains listings on the London Stock Exchange, Euronext Growth Oslo, and the Pink Open Market in the United States.
