SHAMARAN ANNOUNCES EXPIRY OF RIGHTS OFFERING

About this update from Shamaran Petroleum Corp.

[{"type":"text","content":"\n \n \n \n SHAMARAN ANNOUNCES EXPIRY OF RIGHTS OFFERING\n \n \n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prngen2{\nPADDING-RIGHT:0.17em; PADDING-LEFT:0.17em; VERTICAL-ALIGN: TOP; TEXT-ALIGN: LEFT; BORDER-TOP:black 1pt; BORDER-RIGHT:black 1pt; BORDER-BOTTOM:black 1pt; BORDER-LEFT:black 1pt\n}\n.prnml4{\nMARGIN-TOP:0em; MARGIN-RIGHT:0em; MARGIN-BOTTOM:0em; MARGIN-LEFT:0.33em !IMPORTANT\n}\n.prnbcc{\nBORDER-COLLAPSE: COLLAPSE; BORDER-TOP:1pt black; BORDER-RIGHT:1pt black; BORDER-BOTTOM:1pt black; BORDER-LEFT:1pt black\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n \n VANCOUVER, BC\n \n \n ,\n \n \n May 20, 2022\n \n \n /CNW/ -\n \n ShaMaran Petroleum Corp. (\"ShaMaran\" or the \"Company\")\n \n (TSXV: SNM) (Nasdaq First North Growth Market (\n \n Sweden\n \n ): SNM) is pleased to announce that further to ShaMaran's news releases of\n \n April 5, 2022\n \n ,\n \n April 7, 2022\n \n and\n \n April 26, 2022\n \n , the Company's rights offering (the \"Rights Offering\") expired at\n \n 5:00 p.m. (Eastern time)\n \n today. Pursuant to the Rights Offering, each ShaMaran shareholder of record on\n \n April 13, 2022\n \n who was an Eligible Holder or Approved Holder (as such terms were defined in the Company's Rights Offering circular dated\n \n April 5, 2022\n \n , as amended) received one right (a \"Right\") for every one common share of ShaMaran (\"Common Share\") held. Four Rights permitted the holder to purchase one Common Share at the price of\n \n CAD 0.06825\n \n \n (SEK 0.52)\n \n per Common Share. A total of 2,060,115,323 Rights were exercised.\n \n View PDF version\n \n .\n \n \n ShaMaran is working with its rights agent in\n \n Canada\n \n : (a) to calculate the breakdown of common shares issuable under the basic subscription privilege, the additional subscription privilege, and the standby commitment payment (if any) to be made by ShaMaran's major shareholder Nemesia S.à.r.l.\n \n 1\n \n and converted into Common Shares at the price of\n \n CAD 0.06825\n \n , and (b) to determine the gross proceeds in\n \n United States\n \n dollars received in connection with ...

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