Zenith Energy Ltd Acquisition of US listed company (5505K)
August 29 2023 - 2:00AM
UK Regulatory
TIDMZEN
RNS Number : 5505K
Zenith Energy Ltd
29 August 2023
August 29, 2023
ZENITH ENERGY LTD.
("Zenith" or the "Company")
Acquisition of US listed company
Zenith Energy Ltd. (LSE: ZEN; OSE: ZENA), the international
energy production and development company, is pleased to announce
that it has acquired control of Cyber Apps World Inc. ("CYAP") by
way of a Securities Purchase Agreement ("SPA") signed with Janbella
Group LLC ("Seller").
Highlights
-- Zenith has acquired 100,000 Series A Preferred Shares in CYAP
from the Seller, representing 99.87% of its current total voting
rights.
-- The purchase price agreed under the terms of the SPA is
US$398,319.97 in cash (the "Consideration").
-- CYAP is listed on the US OTC Markets' Pink Open Market segment under the ticker "CYAP".
-- Zenith intends to rename CYAP, will appoint a new Board of
Directors reflecting its new ownership, and will utilise CYAP for
the purpose of acquiring energy production and development
opportunities in the US.
-- CYAP is currently engaged in software development. However,
it is Zenith's intention to exit this activity at the appropriate
time.
Andrea Cattaneo , Chief Executive Officer, commented:
"We are pleased to have acquired control of a listed company in
the US. Our intention is to complete various potential acquisitions
currently under review in the US by way of CYAP, as well as
attracting investment from North American investors to finance
their acquisition and future development.
We are confident that the value upside presented by a listed
company in the US newly pursuing a high-growth acquisition campaign
targeting proven, revenue generating energy production assets will
resonate with North American investors, and, at the same time, give
Zenith shareholders significant exposure to a compelling new growth
story ."
Further Information:
Zenith Energy Ltd
Tel: +1 (587) 315 1279
Andrea Cattaneo, Chief Executive E: info@zenithenergy.ca
Officer
BlytheRay - Financial PR/IR Tel: +44 207 138 3204
Tim Blythe, Megan Ray, Matt E: zenith@blytheray.com
Bowld
Allenby Capital Limited - Financial Tel: + 44 (0) 203 328 5656
Adviser
Nick Harriss
Daniel Dearden-Williams
Miriad Limited - Media Enquiries Tel: +44 7867527659
Zak Mir E: zak@zakmir.com
Notes to Editors :
Zenith Energy Ltd. is a revenue generating, independent energy
company with production, exploration and development assets in
Africa, the Middle East and Europe, including electricity
generation in Italy. The Company is listed on the London Stock
Exchange Main Market (LSE: ZEN) and the Euronext Growth of the Oslo
Stock Exchange (OSE: ZENA).
Zenith's strategic focus is on pursuing development
opportunities through the development of proven revenue generating
energy production assets, as well as low-risk exploration
activities in assets with existing production.
For more information, please visit: www.zenithenergy.ca
Twitter: @zenithenergyltd
LinkedIn: https://bit.ly/3A5PRJb
Market Abuse Regulation (MAR) Disclosure
The information contained within this announcement is deemed by
the Company to constitute inside information as stipulated under
the Market Abuse Regulations (EU) No. 596/2014 as it forms part of
UK domestic law by virtue of the European Union (Withdrawal) Act
2018 ("MAR"). Upon the publication of this announcement via a
Regulatory Information Service ("RIS"), this inside information is
now considered to be in the public domain.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
RNS may use your IP address to confirm compliance with the terms
and conditions, to analyse how you engage with the information
contained in this communication, and to share such analysis on an
anonymised basis with others as part of our commercial services.
For further information about how RNS and the London Stock Exchange
use the personal data you provide us, please see our Privacy
Policy.
END
ACQEAAPPALFDEAA
(END) Dow Jones Newswires
August 29, 2023 02:00 ET (06:00 GMT)
Zenith Energy (LSE:ZEN)
Historical Stock Chart
From Jun 2024 to Jul 2024
Zenith Energy (LSE:ZEN)
Historical Stock Chart
From Jul 2023 to Jul 2024