VANCOUVER, BC, March 4, 2022 /CNW/ - ShaMaran Petroleum Corp.
("ShaMaran" or the "Company") (TSXV: SNM) (Nasdaq First North
Growth Market (Stockholm): SNM)
confirms receipt of payment for the November 2021 Atrush
sales and entitlements at $24.02 million ($8.84 million net to the Company). View PDF
version
The Company is also in receipt of $1.95 million net to
the Company as the next instalment for November 2021 in
the Kurdistan Regional Government ("KRG") receivable repayment
mechanism calculated based on the KRG's proposed amendment to the
mechanism repayment terms as announced on May 13, 2021.
Today's payment reduces the KRG's outstanding receivable amount
owed to the Company to $18.88 million.
Recently ShaMaran received notice from Pareto Securities AB
("Pareto") that Pareto would not be continuing in its role for the
Company as Certified Adviser in Sweden. Following such
notification, the Company has held a competitive bid process for a
Certified Adviser to replace Pareto and the Company is pleased to
announce that the Company's Certified Adviser will become Arctic
Securities AS (Swedish branch) on Nasdaq First North Growth Market
(Sweden) effective March 9, 2022. ShaMaran thanks Pareto for
the over ten years of service as the Company's Certified Adviser in
Sweden.
OTHER
This information is information that ShaMaran is
obliged to make public pursuant to the EU Market Abuse
Regulation. This information was submitted for publication,
through the agency of the contact persons set out below, on
March 4, 2022 at 2:00 a.m. Eastern Time. Pareto Securities
AB is the Company's current Certified Adviser on Nasdaq First North
Growth Market (Stockholm), +46
8402 5000, certifiedadviser.se@paretosec.com but on and after
March 9, 2022 the Company's Certified
Adviser will be Arctic Securities AS (Swedish branch), +46 844
68 61 00, certifiedadviser@arctic.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, through its
wholly-owned subsidiary General Exploration Partners, Inc., in the
Atrush Block and as announced in the Company's news release of
July 12, 2021 upon successful closing
of the acquisition from 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
(Sweden) under the symbol "SNM"
and is part of the "Lundin Group of Companies".
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SOURCE ShaMaran Petroleum Corp.