Zion Oil & Gas launches new Unit Option under DSPP to raise up to $7.5M

ZION OIL & GAS INC

Unit Option priced at $250 per unit; each unit includes common stock and warrants to buy 500 shares at $0.05 per share.
Three tranches: first March 13-26, second March 27-April 9, third April 10-27; each subject to early termination upon $7.5M raised.
Additional warrants for enrolling in Automatic Monthly Investments ($50+/month): up to 500 warrants depending on monthly amount.
Warrants (ZNWAV, ZNWAW, ZNWAX, ZNWAY) exercisable at $0.05, with exercise periods through September 2023.
Warrant Agent Agreement executed with American Stock Transfer & Trust Company for the new warrants.

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