VANCOUVER, BC , June 24,
2024 /CNW/ - ShaMaran Petroleum Corp. ("ShaMaran"
or the "Company") (TSXV: SNM) (Nasdaq First North: SNM)
announces the positive results of the buy-back tender offer to
bondholders in the Company's 12% senior unsecured bond (ISIN NO
0011057622) (the "Bond") previously disclosed in the Company's news
release on June 10, 2024. PDF
version
The Company received more than enough offers to fill the full
tender amount of US$47 million, and
settlement will take place on June 26,
2024.
Following settlement of the tender and cancellation of the
US$5.9 million in Company-owned
bonds, the total outstanding amount of the Bond will be
US$202.1 million.
The two-year extension to the Bond's maturity date and other
amendments to the bond terms that were approved by written
resolution will be implemented shortly as all conditions precedent
are being fulfilled.
About ShaMaran Petroleum Corp.
ShaMaran is a Canadian independent oil and gas company focused
on the Kurdistan region of
Iraq. The Company indirectly holds
an 18% working interest (22.5% paying interest) in the Sarsang
Block, and, subject to closing the previously announced
transaction, will increase its indirect 27.6% working interest in
the Atrush Block to 50%. The Company is listed in Toronto on the TSX Venture Exchange and in
Stockholm on Nasdaq First North
Growth Market (ticker "SNM"). ShaMaran is part of the Lundin Group
of Companies.
Important Information
ShaMaran is obliged to make this information public pursuant
to the EU Market Abuse Regulation. This information was submitted
for publication through the agency of the contact person set out
below on June 24, 2024, at 8:00
a.m. Central European Time.
The Company's certified advisor on Nasdaq First North Growth
Market is FNCA Sweden AB.
Neither 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.
SOURCE ShaMaran Petroleum Corp.