Zion Oil & Gas launches $250 unit option with warrants under DSPP

ZION OIL & GAS INC

Unit option period: May 15 to June 15, 2023; each unit $250 includes common shares and 200 warrants.
Additional 300 warrants for participants buying ≥1 unit and enrolling in AMI of $50+/month.
Warrants (ZNWAZ) exercisable at $0.25 from July 17, 2023 to July 17, 2024, not exchange-traded.
Warrant Agent Agreement executed with American Stock Transfer & Trust Company for ZNWAZ.
Amendment No. 3 updates existing Dividend Reinvestment and Direct Stock Purchase Plan.

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