Zenith Announces Closing of Private Placement Financing

(via Thenewswire.ca)

Calgary, Alberta / TheNewswire / November 7, 2016 - Zenith Energy Ltd. ("Zenith" or the "Company") is pleased to announce that it has closed a non-brokered private placement of 2,745,062 units of the Company ("Units") at a price of $0.12 per Unit for aggregate gross proceeds of $329,407.44 (the "Private Placement"). Insiders of the Company subscribed for an aggregate of 2,195,475 Units for aggregate subscription proceeds of $263,457.

Each Unit is comprised of one common share in the capital of Zenith ("Common Share") and one Common Share purchase warrant ("Warrant"). Each Warrant will be exercisable for one Common Share at a price of $0.20 per share for a period of 24 months from the date of closing of the offering.

The securities issued pursuant to the Private Placement will be subject to a four months hold period expiring March 5, 2017. The Private Placement 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) accept responsibility for the adequacy or accuracy of this release.

For further information, please contact:

Jose Ramon Lopez-Portillo Andrea Cattaneo

Chairman of the Board CEO & President

Email: info@zenithenergy.ca

Telephone: (587) 315 9031

Telefax: (403) 775-4474

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