Tunisia: Zenith Energy enters into loan agreement for Tunisian development
26 May 2021
Zenith Energy has entered into a loan agreement with
Winance, a Dubai registered single-family office, for a total amount of EUR 2.1 million (approx. £1.8 million or approx. NOK 21.4 million).
Andrea Cattaneo, Chief Executive Officer of Zenith, commented: We are very pleased to have concluded our first financing agreement with Winance. This is fruit of the considerable effort made by Zenith s management team in developing our funding strategy with emphasis towards Arab and Middle Eastern financial markets.
The Company will use the funds obtained from the Loan to commence its near-term operational objectives in Tunisia, as well as providing additional capital for potential acquisitions that the Company may seek to complete. We shall update the market in due course regarding our operational programme in Tunisia.