VANCOUVER, BC, July 27, 2021 /CNW/ - ShaMaran Petroleum
Corp. ("ShaMaran" or the "Company") (TSXV: SNM) (Nasdaq First
North Growth Market: SNM) provides the following update to
stakeholders in connection with the Company's news releases dated
July 12, 2021 and July 16, 2021 regarding the written resolutions
and summons containing certain proposals that were submitted to the
Bondholders relating to the Company's 12% senior unsecured bonds
due 2023 (ISIN: NO 001082645.6) and for the issuance of the
Company's 12% senior unsecured bonds due 2025 (ISIN No. 0011057622)
("New Bond"). View PDF version
ShaMaran is pleased to announce that the proposals for the
conditional refinancing of the existing bond as well as necessary
waivers for the issuance of the New Bond and other financial
matters relating to the existing bond have been approved by the
Bondholders voting on the proposals and the Company will proceed
with settlement of the New Bond on July 30, 2021.
FORWARD LOOKING STATEMENTS
This news release contains statements and
information about expected or anticipated future events and
financial results that are forward-looking in nature and, as a
result, are subject to certain risks and uncertainties, such as
legal and political risk, civil unrest, general economic, market
and business conditions, the regulatory process and actions,
technical issues, new legislation, competitive and general economic
factors and conditions, the uncertainties resulting from potential
delays or changes in plans, the occurrence of unexpected events and
management's capacity to execute and implement its future plans.
Any statements that are contained in this news release that are not
statements of historical fact may be deemed to be forward-looking
information. Forward-looking information typically contains
statements with words such as "may", "will", "should", "expect",
"intend", "plan", "anticipate", "believe", "estimate", "projects",
"potential", "scheduled", "forecast", "outlook", "budget" or the
negative of those terms or similar words suggesting future
outcomes. Forward-looking information in this press release
include, among other things: the proposed use of proceeds of the
private placement. The Company cautions readers regarding the
reliance placed by them on forward–looking information as by its
nature, it is based on current expectations regarding future events
that involve a number of assumptions, inherent risks and
uncertainties, which could cause actual results to differ
materially from those anticipated by the Company.
Actual results may differ materially from those projected by
management. Further, any forward-looking information is made only
as of a certain date and the Company undertakes no obligation to
update any forward-looking information or statements to reflect
events or circumstances after the date on which such statement is
made or reflect the occurrence of unanticipated events, except as
may be required by applicable securities laws. New factors emerge
from time to time, and it is not possible for management of the
Company to predict all of these factors and to assess in advance
the impact of each such factor on the Company's business or the
extent to which any factor, or combination of factors, may cause
actual results to differ materially from those contained in any
forward-looking information. The Company may elect to use the
proceeds of the private placement in a different manner than as
described above if the Company determines it is in its best
interests to do so.
OTHER
This information is information that ShaMaran Petroleum Corp. is
obliged to make public pursuant to the EU Market Abuse Regulation.
The information was submitted for publication, through the agency
of the contact persons set out below, at 9:40 a.m. Eastern Time on July 27,
2021. Pareto Securities AB is the Company's Certified Advisor
on Nasdaq First North Growth Market, +46 84 02 5000,
certifiedadviser.se@paretosec.com.
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
ABOUT SHAMARAN
ShaMaran is a Kurdistan focused
oil development and exploration company which holds a 27.6%
interest in the Atrush Block through its wholly-owned subsidiary,
General Exploration Partners, Inc. and upon successful closing
of the acquisition with a TotalEnergies' affiliate will then also
hold an 18% interest through its then wholly-owned subsidiary
TEPKRI Sarsang A/S in the Sarsang Block.
ShaMaran is a Canadian oil and gas company listed on the TSX
Venture Exchange and the Nasdaq First North Growth Market
(Stockholm) under the symbol "SNM"
and is a part of the "Lundin Group of Companies".
SOURCE ShaMaran Petroleum Corp.