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 November 27, 2015 - 8:57 PM EST
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Zenith Closes C$337,130.00 Financing


Calgary, Alberta / TheNewswire / November 27, 2015 / Zenith Energy Ltd. ("Zenith" or the "Company") (TSX VENTURE: ZEE) is pleased to announce, subject to regulatory approval, the completion of a non-brokered private placement of units ("Units"). Zenith issued an aggregate of 4,214,125 Units at a price of C$0.08 per Unit for gross proceeds of C$337,130.

Each Unit consists of one common share in the capital of the Company and one common share purchase warrant. Each common share purchase warrant entitles the holder thereof to purchase, subject to adjustment, one additional common share at an exercise price of CAD$0.25 per share at any time on or before the date that is 36 months from the date of issuance of the common share purchase warrant. No finder's fees were paid in connection with this private placement.

In addition to any resale restrictions under applicable securities legislation, all securities issued under the private placement will be subject to a four-month hold period.

The proceeds from this offering will be used to finance the Company's operations and to augment its unallocated working capital. This transaction 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 the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the 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 completion of the private placement. The forward-looking statements and information are based on certain key expectations and assumptions made by Zenith, including the ability to obtain the required Exchange approval. 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, Zenith being unable to close on the proposed subscriptions and being unable to obtain the requisite regulatory approval. 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:

Andrea Cattaneo

CEO & President


Telephone: (587) 437-1984

Telefax: (403) 775-4474

This press release is not to be distributed to U.S. newswire services or for dissemination in the United States. Any failure to comply with this restriction may constitute a violation of U.S. securities law.

Copyright (c) 2015 TheNewswire - All rights reserved.

Source: TheNewsWire (November 27, 2015 - 8:57 PM EST)

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