Replies to post #21300 on Zion Oil & Gas Inc (ZNOG)

[geopressure]

That 80 year old director retired 6 weeks after after he started & received $350K worth of stock options... There's something fishy going on with that...

[microcaps1]

the below may remind us why the pps has been hanging just above 3-lowest at 3.05
w warrants at $3 showing up in accounts at about same time as sec matter - a double bang -it is what it is-some need money so if they can make a 25c profit by selling 3 dollar warrants, less the commission

for newbies benefit, co's do that bc they dont make a cent off of market trading


Item 8.01 Other Events.



On May 31, 2018, Zion Oil & Gas, Inc. (the “Company”) completed its previously announced rights offering. On June 11, 2018, American Stock Transfer & Trust Company, LLC, our Subscription Agent, provided the results of the rights offering. The Company will issue approximately 656,274 shares of common stock and 656,274 warrants to rights holders who exercised their rights pursuant to the basic and over-subscription privileges. The warrants will be issued and exercisable on June 29, 2018 and continue to be exercisable through June 29, 2019 at a per share exercise price of $3.00. The total subscription of approximately 656,274 Rights were purchased (including all of the over-subscription). The gross proceeds from the rights offering of approximately $3.28 million, less fees and expenses of approximately $220,000 incurred in connection with the rights offering, will be used by the Company to further its exploration and production efforts and as otherwise provided in the prospectus.