Zenith Exploration Inc. Closes Non-Brokered Private Placement
Zenith Exploration Inc.
Suite 1080, 789 West Pender Street
Vancouver, BC V6C 1H2
NEWS RELEASE
ZENITH EXPLORATION INC. CLOSES NON-BROKERED PRIVATE PLACEMENT
Vancouver, BC – May 22, 2020 – Zenith Exploration Inc. (CSE: “ ZX”) (“Zenith” or the “ Company”)
reports that further to its news release dated April 14, 2020, the Company announces the closing of
its non-brokered private placement of units (the “Offering”).
The Company raised in total gross proceeds of $200,000 and sold a total of 10,000,000 unit s (the
“Unit”) at a price of $0.02 per Unit. Each Unit consists of one common share of the Company and
one common share purchase warrant, whereby each warrant entitles the holder thereof to acquire
one additional common share of the Company for a total period of five years from the date of
issuance at a price of $0.05 per share.
As a result of the issuance of 10,000,000 common shares, the number of issued and outstanding
commons shares of the Company increased from 28,796,411 to 38,796,411.
Brent Hahn, the Chief Executive Officer of the Company, and Barry Hartley, the Chief Financial Officer
of Company, each purchased 5,000,000 Units. Their participation in the private placement is
considered to be a “related party transaction” within the meaning of Multilateral Instrument 61-101
(“MI 61-101”). The Company is relying on the exemptions from the valuation requirements pursuant
to section 5.5(b)(Issuer not Listed on Specified Markets) and from the minority shareholder approval
requirements pursuant to section 5.7(1)(b) (Fair Market Value Not More Than $2,500,000) of MI 61-
101.
The proceeds from the Offering will be used for working capital and general corporate purposes. All
securities issued pursuant to the Offering are subject to a statutory hold period of four months
following the date of issuance, in accordance with the applicable Canadian securities laws.
About Zenith Exploration Inc.
Zenith Exploration Inc. is a resource exploration company that is acquiring and exploring mineral
properties.
On Behalf of the Board of Directors
ZENITH EXPLORATION INC.
Brent Hahn
Chief Executive Officer
Telephone: 604-428-7050
Neither the Canadian Securities Exchange nor its Regulation Services Provider accepts responsibility
for the adequacy or accuracy of this release.
Zenith Exploration Inc.
News Release Page 2 of 2
FORWARD LOOKING STATEMENT This press release may include forward-looking information within
the meaning of Canadian securities leg islation, concerning the business and trading in the common
stock of Zenith Exploration Inc., the raising of additional capital and the future development of the
business. The forward -looking information is based on certain key expectations and assumptions
made by the company's management. Although the Company believes that the expectations and
assumptions on which such forward -looking information is based are reasonable, undue reliance
should not be placed on the forward -looking information because the Com pany can give no
assurance that they will prove to be correct. These forward -looking statements are made as of the
date of this press release and Zenith disclaims any intent or obligation to update publicly any forward-
looking information, whether as a res ult of new information, future events or results or otherwise,
other than as required by applicable securities laws.