{"success":true,"data":{"pressRelease":{"id":"47369","rtpr_id":"nWkr9bS77K","ticker":"SNM","exchange":"","all_tickers":["SNM"],"title":"ShaMaran Announces Completion of Corporate Continuance to Bermuda and Update on Primary Listing in Oslo with Required Private Placement of up to EUR 1 million","author":"Cision","published_at":"2026-05-28T06:30:09.069Z","article_body":"ShaMaran Petroleum Corp.\nVANCOUVER, BC, May 28, 2026 /CNW/ – ShaMaran Petroleum Ltd., formerly\nShaMaran Petroleum Corp., (“ShaMaran” or the “Company”) (Nasdaq First\nNorth: SNM) has completed the previously announced corporate continuance from\nCanada to Bermuda. The Company’s shares have been delisted from the TSX\nVenture Exchange in Toronto (“TSXV”) and are expected to begin trading\nunder ticker symbol “SNM” on the Euronext Growth Oslo market (“EGO”)\noperated by the Oslo Stock Exchange (“OSE”) by June 5, 2026. In order to\nsatisfy the listing criteria on EGO, Management expects to do a retail share\noffering of up to the NOK equivalent of EUR 1 million.\n\nShaMaran’s listing application has been approved by the Board of Oslo Stock\nExchange, and the Company has completed the steps required under its bond\ndocumentation.\n\nTechnical Information Related to Stock Exchange Listings\n\n Action                                                                                                                                                        Expected Key Date  \n Last day of trading on TSXV and start of technical trade suspension on Nasdaq First North Growth Market (“Nasdaq First North”) following market close.        Completed          \n Redomicile Effective Date.                                                                                                                                    Completed          \n TSXV Delisting Effective Date.                                                                                                                                Completed          \n Registration of shares in the Norwegian Central Securities Depository, Verdipapirsentralen (“VPS”), formal de-listing of shares from Nasdaq First North.      Completed          \n Record Date for exchange from shares to Swedish Depositary Receipts (“SDRs”).                                                                                 Completed          \n Issuance of SDRs with the first day of conditional trading on Nasdaq First North.                                                                             May 28, 2026       \n Delivery of SDRs to entitled holders’ accounts.                                                                                                               May 29, 2026       \n Commencement of free conversion period for SDRs to Euronext Growth shares.                                                                                    June 2, 2026       \n Start of trading on EGO.                                                                                                                                      June 5, 2026       \n\nFollowing registration of all shares in VPS, the newly issued SDRs are as of\ntoday listed on Nasdaq First North Growth Market in Sweden with conditional\ntrading (with the ticker symbol “SNM”). The newly issued SDRs will be\ndelivered to entitled holders’ accounts as of May 29, 2026. The planned\nstart of the Company’s shares trading on EGO in Norway on June 5, 2026, is\nindicative and is subject to fulfillment of the relevant listing requirements\nof EGO and Nasdaq First North.\n\nFor shareholders holding the Company’s shares in Canada, the Company has\npublished on its website (Oslo Listing and Bermuda Continuance | ShaMaran\nPetroleum Corp.\n(https://protect.checkpoint.com/v2/r03/___https:/shamaranpetroleum.com/investors/oslo-listing-and-bermuda-continuance/___.YXYyYzpjYXNjb3JwOmM6b2ZmaWNlMzY1X2VtYWlsc19hdHRhY2htZW50OjNmZTE2YWNkMzcyZTk1NmI1ZGRkYmU4OWQ3OWE3MDVkOjc6OTJkOTphZjcyM2IzMTAzZTk3MzRlMjQ0ZjgzY2MzOWUxYjEwMDYwZWM1ZTRhNjA1NTA4ZTU3ZWZmOWE3OTU1MTFhZTM0OnA6VDpO))\na VPS transmittal letter. Holders and nominees may use the letter to inform\nthe company and DNB Bank ASA of their VPS account details and to request the\nregistration of their shares in VPS so they can become tradeable in EGO. The\ncompleted form should be sent to VPStransmittal@shamaranpetroleum.com for\nfurther processing.  \n\nThe conversion from SDRs listed on Nasdaq First North in Sweden to shares\nlisted on EGO in Norway and vice versa normally entails administrative fees\nfrom the custodian or account holding institution. The Company will offer\nconversion free of charge through DNB Bank ASA Sweden Branch until June 30,\n2026, for SDRs listed on Nasdaq First North in Sweden to shares listed on EGO\nin Norway. If holders convert SDRs after this date, customary costs will\napply. Further information on the conversion process will be provided by the\nCompany in connection with, or shortly following, the contemplated listing on\nEGO.\n\nThe ISIN for the ShaMaran Petroleum Ltd. shares in VPS is BMG8080M1001.\n\nThe ISIN for the SDRs is SE0028000992.\n\nThe Company has made an application to the applicable Canadian securities\ncommissions to cease to be a reporting issuer in Canada.\n\nPrivate Placement for Oslo Listing\n\nIn order to satisfy the listing criteria on EGO, ShaMaran has retained Pareto\nSecurities AS (the “Manager”) as bookrunner for a contemplated retail\nshare offering of up to the NOK equivalent of EUR 1 million (the “Private\nPlacement” and the “Offer Shares”).\n\nKey highlights and details for the Private Placement:\n* Price per Offer Share: A pre-determined customary discount of 10% to the\nvolume-weighted-average price (VWAP) of the Swedish depositary receipts\n(reflecting the underlying shares in the Company) on Nasdaq First North Growth\nMarket during the application period.\n* Application Period: From May 28, 2026, at 09:00 (CEST) to June 2, 2026, at\n17:30 (CEST).\n* Minimum order size: NOK 5,500.\n* Maximum order size: NOK 1,000,000.\n* Available to: Investors in Norway and Sweden.\n* Submission of applications: Through the websites of the Manager and Nordnet\nfrom the start to the end of the Application Period.\nThe Private Placement will be directed towards retail investors in Norway and\nSweden, in each case subject to and in compliance with applicable exemptions\nfrom prospectus requirements, any other filing or registration requirements,\nand subject to other selling restrictions.\n\nThe net proceeds to the Company from the Private Placement will be used for\ngeneral corporate purposes.\n\nThe application period for the Private Placement will commence today, May 28,\n2026, at 09:00 (CEST), and expire on June 2, 2026, at 17:30 (CEST) (the\n“Application Period”). Investors applying for Offer Shares electronically\nthrough the web services of Nordnet will be required to submit their\napplications no later than 16:30 (CEST) on June 2, 2026.\n\nThe Company may, at its sole discretion, resolve to extend the Application\nPeriod at any time and for any reason on short notice or without notice. If\nthe Application Period is extended, any other dates referred to herein may be\namended accordingly.\n\nThe price to be paid for each Offer Share in the Offering will be a NOK\namount, using Norges Bank’s daily SEK/NOK exchange rate (as published on\nNorges Bank’s website on the final day of the application period), equal to\na 10% discount to the volume-weighted average price of the Swedish depositary\nreceipts (reflecting the underlying shares in the Company) on Nasdaq First\nNorth Growth Market during the application period (four trading days between\nMay 28, 2026, and June 2, 2026). The final offer price will be rounded down to\nthe nearest one decimal. The final offer price will be announced in connection\nwith the publication of the results of the offering after close of the\napplication period on or about June 2, 2026.\n\nPlease use the following links to apply for Offer Shares\nwww.paretosec.com/transactions and https://www.nordnet.no/aksjer/ipo-emisjon\n(the transaction will appear when the Application Period for the Private\nPlacement is live).\n\nCompletion of the Private Placement is subject to: (i) All corporate\nresolutions of the Company required to implement the Offering being validly\nmade and (ii) the Offer Shares being validly issued and registered in the\nNorwegian Central Securities Depository (Euronext Securities Oslo or the\n“VPS”).\n\nThe Company reserves the right to cancel the Private Placement at any time and\nfor any reason prior to the notification of allocation. Neither the Company\nnor the Manager or any of their directors, officers, employees,\nrepresentatives, or advisors will be liable for any losses incurred by\napplicants if the Private Placement is cancelled, irrespective of the reason\nfor such cancellation.\n\nThe Offering will be automatically allocated on a pro-rata basis based on the\ndemand from each applicant in the Offering. The Company’s board of directors\nreserves the right to set a maximum allocation per applicant in the Offering\nand to reject and/or reduce any orders, in whole or in part. The Private\nPlacement will in any case be limited to a maximum of the NOK equivalent of\nEUR 1 million. Allocations will be reduced should demand exceed this limit.\n\nThe Offer Shares delivered to the investors are expected to be tradable on EGO\nupon the first day of trading of the Company's shares on EGO, expected on or\nabout June 5, 2026.\n\nEach applicant in the Private Placement accepts the following by placing an\napplication through Nordnet’s platform: an investment in the Offer Shares is\nmade solely at the applicant’s own risk and is based on the applicant’s\nown assessment of the Company and the Offer Shares. An investment in the Offer\nShares is only suitable for investors who can afford to lose the invested\namount. No prospectus or other document providing a similar level of\ndisclosure has been prepared in connection with the Private Placement.\n\nFor further information about the Private Placement, please contact:\n\nPareto Securities AS: +47 22 87 87 50\nImportant Information\nThis information was submitted for publication through the agency of the\ncontact person set out below on May 28, 2026, at 8:30 a.m. CEST.\n\nSDRs are expected to be conditionally traded in the “when issued” segment\nof NASDAQ First North on May 28 and 29, 2026, with unconditional trading\nstarting on June 1, 2026. Completion of the trades will be conditioned upon\nall the technical elements to issue the SDRs through the Euroclear system\nbeing in place by the end of May 29, 2026. If the conditions for completion\nare not met by that time, the conditionally traded SDRs will not be delivered\nand payments will be returned. The full ticker of the SDRs is “SNM SDB”.\n\nThe Company’s certified advisor on Nasdaq First North Growth Market is FNCA\nSweden AB.\n\nForward-Looking Statements\n\nCertain statements contained in this press release constitute forward-looking\ninformation, including the timing for the continuance and the other corporate\nsteps indicated above, the ability to obtain all required regulatory\napprovals, including approval of the applicable Canadian Securities\nCommissions for the Company to cease to be a reporting issuer. These\nstatements relate to future events or the Company’s future performance,\nbusiness prospects and opportunities, which are based on assumptions of\nmanagement.\n\nThe use of any of the words “will”, “expected”, “planned” and\nsimilar expressions and statements relating to matters that are not historical\nfacts are intended to identify forward-looking information and are based on\nthe Company’s current belief or assumptions as to the outcome and timing of\ncertain future events. Certain information set forth in this news release\ncontains forward-looking statements. These forward-looking statements involve\nrisks and uncertainties relating to, among other things, timing of pipeline\nexports, changes in oil prices, results of exploration and development\nactivities, including results, timing and costs of seismic, drilling and\ndevelopment related activity in the Company’s area of operations, uninsured\nrisks, regulatory changes, defects in title, availability of funds required to\nparticipate in the development activities, availability of financing on\nreasonable terms, availability of materials and equipment on satisfactory\nterms, outcome of commercial negotiations with government and other regulatory\nauthorities, timeliness of government or other regulatory approvals, actual\nperformance of facilities, availability of third-party service providers,\nequipment and processes relative to specifications and expectations and\nunanticipated environmental impacts on operations. The risks outlined above\nshould not be construed as exhaustive. Additional information on these and\nother factors that could affect the Company’s operations and financial\nresults are included in the Company’s annual information form for the year\nended December 31, 2025, the MD&A and other reports on file with the Canadian\nSecurities Regulatory Authorities that can be accessed on the Company’s\nprofile on SEDAR+ at www.sedarplus.ca. Actual future results may differ\nmaterially.\n\nThe Company cautions readers regarding the reliance placed by them on\nforward-looking information as by its nature, it is based on current\nexpectations regarding future events that involve a number of assumptions,\ninherent risks and uncertainties, which could cause actual results to differ\nmaterially from those anticipated by the Company.\n\nThe forward-looking information contained in this release is made as of the\ndate hereof, and the Company is not obligated to update or revise any\nforward-looking information, whether as a result of new information, future\nevents or otherwise, except as required by applicable securities laws. Because\nof the risks, uncertainties and assumptions contained herein, investors should\nnot place undue reliance on forward-looking information. The foregoing\nstatements expressly qualify any forward-looking information.\n\nSource: ShaMaran Petroleum Ltd.\n\nView PDF version\n(https://mb.cision.com/Public/17253/4354200/a6b269f147aa6104.pdf)\n\nElvis Pellumbi, CFO, +41 22 560 8600, info@shamaranpetroleum.com,\nwww.shamaranpetroleum.com\n\nAbout ShaMaran Petroleum Ltd.\n\nShaMaran is an independent oil and gas company focused on the Kurdistan region\nof Iraq. The Company indirectly holds a 50% working interest in the Atrush\nBlock and an 18% working interest in the Sarsang Block. ShaMaran is part of\nthe Lundin Group of Companies.\n\nhttps://news.cision.com/shamaran-petroleum-corp-/r/shamaran-announces-completion-of-corporate-continuance-to-bermuda-and-update-on-primary-listing-in-o%2Cc4354200\n\nShaMaranPetroleum 0528\n(https://mb.cision.com/Public/17253/4354200/a6b269f147aa6104.pdf)\n\n\n\n(c) Copyright Waymaker BIT News - Cision 2026","article_body_html":"","raw_payload":{"data":{"id":"nWkr9bS77K","title":"ShaMaran Announces Completion of Corporate Continuance to Bermuda and Update on Primary Listing in Oslo with Required Private Placement of up to EUR 1 million","author":"Cision","ticker":"SNM","created":"2026-05-28T06:30:09.069Z","tickers":["SNM"],"exchange":"","article_body":"ShaMaran Petroleum Corp.\nVANCOUVER, BC, May 28, 2026 /CNW/ – ShaMaran Petroleum Ltd., formerly\nShaMaran Petroleum Corp., (“ShaMaran” or the “Company”) (Nasdaq First\nNorth: SNM) has completed the previously announced corporate continuance from\nCanada to Bermuda. The Company’s shares have been delisted from the TSX\nVenture Exchange in Toronto (“TSXV”) and are expected to begin trading\nunder ticker symbol “SNM” on the Euronext Growth Oslo market (“EGO”)\noperated by the Oslo Stock Exchange (“OSE”) by June 5, 2026. In order to\nsatisfy the listing criteria on EGO, Management expects to do a retail share\noffering of up to the NOK equivalent of EUR 1 million.\n\nShaMaran’s listing application has been approved by the Board of Oslo Stock\nExchange, and the Company has completed the steps required under its bond\ndocumentation.\n\nTechnical Information Related to Stock Exchange Listings\n\n Action                                                                                                                                                        Expected Key Date  \n Last day of trading on TSXV and start of technical trade suspension on Nasdaq First North Growth Market (“Nasdaq First North”) following market close.        Completed          \n Redomicile Effective Date.                                                                                                                                    Completed          \n TSXV Delisting Effective Date.                                                                                                                                Completed          \n Registration of shares in the Norwegian Central Securities Depository, Verdipapirsentralen (“VPS”), formal de-listing of shares from Nasdaq First North.      Completed          \n Record Date for exchange from shares to Swedish Depositary Receipts (“SDRs”).                                                                                 Completed          \n Issuance of SDRs with the first day of conditional trading on Nasdaq First North.                                                                             May 28, 2026       \n Delivery of SDRs to entitled holders’ accounts.                                                                                                               May 29, 2026       \n Commencement of free conversion period for SDRs to Euronext Growth shares.                                                                                    June 2, 2026       \n Start of trading on EGO.                                                                                                                                      June 5, 2026       \n\nFollowing registration of all shares in VPS, the newly issued SDRs are as of\ntoday listed on Nasdaq First North Growth Market in Sweden with conditional\ntrading (with the ticker symbol “SNM”). The newly issued SDRs will be\ndelivered to entitled holders’ accounts as of May 29, 2026. The planned\nstart of the Company’s shares trading on EGO in Norway on June 5, 2026, is\nindicative and is subject to fulfillment of the relevant listing requirements\nof EGO and Nasdaq First North.\n\nFor shareholders holding the Company’s shares in Canada, the Company has\npublished on its website (Oslo Listing and Bermuda Continuance | ShaMaran\nPetroleum Corp.\n(https://protect.checkpoint.com/v2/r03/___https:/shamaranpetroleum.com/investors/oslo-listing-and-bermuda-continuance/___.YXYyYzpjYXNjb3JwOmM6b2ZmaWNlMzY1X2VtYWlsc19hdHRhY2htZW50OjNmZTE2YWNkMzcyZTk1NmI1ZGRkYmU4OWQ3OWE3MDVkOjc6OTJkOTphZjcyM2IzMTAzZTk3MzRlMjQ0ZjgzY2MzOWUxYjEwMDYwZWM1ZTRhNjA1NTA4ZTU3ZWZmOWE3OTU1MTFhZTM0OnA6VDpO))\na VPS transmittal letter. Holders and nominees may use the letter to inform\nthe company and DNB Bank ASA of their VPS account details and to request the\nregistration of their shares in VPS so they can become tradeable in EGO. The\ncompleted form should be sent to VPStransmittal@shamaranpetroleum.com for\nfurther processing.  \n\nThe conversion from SDRs listed on Nasdaq First North in Sweden to shares\nlisted on EGO in Norway and vice versa normally entails administrative fees\nfrom the custodian or account holding institution. The Company will offer\nconversion free of charge through DNB Bank ASA Sweden Branch until June 30,\n2026, for SDRs listed on Nasdaq First North in Sweden to shares listed on EGO\nin Norway. If holders convert SDRs after this date, customary costs will\napply. Further information on the conversion process will be provided by the\nCompany in connection with, or shortly following, the contemplated listing on\nEGO.\n\nThe ISIN for the ShaMaran Petroleum Ltd. shares in VPS is BMG8080M1001.\n\nThe ISIN for the SDRs is SE0028000992.\n\nThe Company has made an application to the applicable Canadian securities\ncommissions to cease to be a reporting issuer in Canada.\n\nPrivate Placement for Oslo Listing\n\nIn order to satisfy the listing criteria on EGO, ShaMaran has retained Pareto\nSecurities AS (the “Manager”) as bookrunner for a contemplated retail\nshare offering of up to the NOK equivalent of EUR 1 million (the “Private\nPlacement” and the “Offer Shares”).\n\nKey highlights and details for the Private Placement:\n* Price per Offer Share: A pre-determined customary discount of 10% to the\nvolume-weighted-average price (VWAP) of the Swedish depositary receipts\n(reflecting the underlying shares in the Company) on Nasdaq First North Growth\nMarket during the application period.\n* Application Period: From May 28, 2026, at 09:00 (CEST) to June 2, 2026, at\n17:30 (CEST).\n* Minimum order size: NOK 5,500.\n* Maximum order size: NOK 1,000,000.\n* Available to: Investors in Norway and Sweden.\n* Submission of applications: Through the websites of the Manager and Nordnet\nfrom the start to the end of the Application Period.\nThe Private Placement will be directed towards retail investors in Norway and\nSweden, in each case subject to and in compliance with applicable exemptions\nfrom prospectus requirements, any other filing or registration requirements,\nand subject to other selling restrictions.\n\nThe net proceeds to the Company from the Private Placement will be used for\ngeneral corporate purposes.\n\nThe application period for the Private Placement will commence today, May 28,\n2026, at 09:00 (CEST), and expire on June 2, 2026, at 17:30 (CEST) (the\n“Application Period”). Investors applying for Offer Shares electronically\nthrough the web services of Nordnet will be required to submit their\napplications no later than 16:30 (CEST) on June 2, 2026.\n\nThe Company may, at its sole discretion, resolve to extend the Application\nPeriod at any time and for any reason on short notice or without notice. If\nthe Application Period is extended, any other dates referred to herein may be\namended accordingly.\n\nThe price to be paid for each Offer Share in the Offering will be a NOK\namount, using Norges Bank’s daily SEK/NOK exchange rate (as published on\nNorges Bank’s website on the final day of the application period), equal to\na 10% discount to the volume-weighted average price of the Swedish depositary\nreceipts (reflecting the underlying shares in the Company) on Nasdaq First\nNorth Growth Market during the application period (four trading days between\nMay 28, 2026, and June 2, 2026). The final offer price will be rounded down to\nthe nearest one decimal. The final offer price will be announced in connection\nwith the publication of the results of the offering after close of the\napplication period on or about June 2, 2026.\n\nPlease use the following links to apply for Offer Shares\nwww.paretosec.com/transactions and https://www.nordnet.no/aksjer/ipo-emisjon\n(the transaction will appear when the Application Period for the Private\nPlacement is live).\n\nCompletion of the Private Placement is subject to: (i) All corporate\nresolutions of the Company required to implement the Offering being validly\nmade and (ii) the Offer Shares being validly issued and registered in the\nNorwegian Central Securities Depository (Euronext Securities Oslo or the\n“VPS”).\n\nThe Company reserves the right to cancel the Private Placement at any time and\nfor any reason prior to the notification of allocation. Neither the Company\nnor the Manager or any of their directors, officers, employees,\nrepresentatives, or advisors will be liable for any losses incurred by\napplicants if the Private Placement is cancelled, irrespective of the reason\nfor such cancellation.\n\nThe Offering will be automatically allocated on a pro-rata basis based on the\ndemand from each applicant in the Offering. The Company’s board of directors\nreserves the right to set a maximum allocation per applicant in the Offering\nand to reject and/or reduce any orders, in whole or in part. The Private\nPlacement will in any case be limited to a maximum of the NOK equivalent of\nEUR 1 million. Allocations will be reduced should demand exceed this limit.\n\nThe Offer Shares delivered to the investors are expected to be tradable on EGO\nupon the first day of trading of the Company's shares on EGO, expected on or\nabout June 5, 2026.\n\nEach applicant in the Private Placement accepts the following by placing an\napplication through Nordnet’s platform: an investment in the Offer Shares is\nmade solely at the applicant’s own risk and is based on the applicant’s\nown assessment of the Company and the Offer Shares. An investment in the Offer\nShares is only suitable for investors who can afford to lose the invested\namount. No prospectus or other document providing a similar level of\ndisclosure has been prepared in connection with the Private Placement.\n\nFor further information about the Private Placement, please contact:\n\nPareto Securities AS: +47 22 87 87 50\nImportant Information\nThis information was submitted for publication through the agency of the\ncontact person set out below on May 28, 2026, at 8:30 a.m. CEST.\n\nSDRs are expected to be conditionally traded in the “when issued” segment\nof NASDAQ First North on May 28 and 29, 2026, with unconditional trading\nstarting on June 1, 2026. Completion of the trades will be conditioned upon\nall the technical elements to issue the SDRs through the Euroclear system\nbeing in place by the end of May 29, 2026. If the conditions for completion\nare not met by that time, the conditionally traded SDRs will not be delivered\nand payments will be returned. The full ticker of the SDRs is “SNM SDB”.\n\nThe Company’s certified advisor on Nasdaq First North Growth Market is FNCA\nSweden AB.\n\nForward-Looking Statements\n\nCertain statements contained in this press release constitute forward-looking\ninformation, including the timing for the continuance and the other corporate\nsteps indicated above, the ability to obtain all required regulatory\napprovals, including approval of the applicable Canadian Securities\nCommissions for the Company to cease to be a reporting issuer. These\nstatements relate to future events or the Company’s future performance,\nbusiness prospects and opportunities, which are based on assumptions of\nmanagement.\n\nThe use of any of the words “will”, “expected”, “planned” and\nsimilar expressions and statements relating to matters that are not historical\nfacts are intended to identify forward-looking information and are based on\nthe Company’s current belief or assumptions as to the outcome and timing of\ncertain future events. Certain information set forth in this news release\ncontains forward-looking statements. These forward-looking statements involve\nrisks and uncertainties relating to, among other things, timing of pipeline\nexports, changes in oil prices, results of exploration and development\nactivities, including results, timing and costs of seismic, drilling and\ndevelopment related activity in the Company’s area of operations, uninsured\nrisks, regulatory changes, defects in title, availability of funds required to\nparticipate in the development activities, availability of financing on\nreasonable terms, availability of materials and equipment on satisfactory\nterms, outcome of commercial negotiations with government and other regulatory\nauthorities, timeliness of government or other regulatory approvals, actual\nperformance of facilities, availability of third-party service providers,\nequipment and processes relative to specifications and expectations and\nunanticipated environmental impacts on operations. The risks outlined above\nshould not be construed as exhaustive. Additional information on these and\nother factors that could affect the Company’s operations and financial\nresults are included in the Company’s annual information form for the year\nended December 31, 2025, the MD&A and other reports on file with the Canadian\nSecurities Regulatory Authorities that can be accessed on the Company’s\nprofile on SEDAR+ at www.sedarplus.ca. Actual future results may differ\nmaterially.\n\nThe Company cautions readers regarding the reliance placed by them on\nforward-looking information as by its nature, it is based on current\nexpectations regarding future events that involve a number of assumptions,\ninherent risks and uncertainties, which could cause actual results to differ\nmaterially from those anticipated by the Company.\n\nThe forward-looking information contained in this release is made as of the\ndate hereof, and the Company is not obligated to update or revise any\nforward-looking information, whether as a result of new information, future\nevents or otherwise, except as required by applicable securities laws. Because\nof the risks, uncertainties and assumptions contained herein, investors should\nnot place undue reliance on forward-looking information. The foregoing\nstatements expressly qualify any forward-looking information.\n\nSource: ShaMaran Petroleum Ltd.\n\nView PDF version\n(https://mb.cision.com/Public/17253/4354200/a6b269f147aa6104.pdf)\n\nElvis Pellumbi, CFO, +41 22 560 8600, info@shamaranpetroleum.com,\nwww.shamaranpetroleum.com\n\nAbout ShaMaran Petroleum Ltd.\n\nShaMaran is an independent oil and gas company focused on the Kurdistan region\nof Iraq. The Company indirectly holds a 50% working interest in the Atrush\nBlock and an 18% working interest in the Sarsang Block. ShaMaran is part of\nthe Lundin Group of Companies.\n\nhttps://news.cision.com/shamaran-petroleum-corp-/r/shamaran-announces-completion-of-corporate-continuance-to-bermuda-and-update-on-primary-listing-in-o%2Cc4354200\n\nShaMaranPetroleum 0528\n(https://mb.cision.com/Public/17253/4354200/a6b269f147aa6104.pdf)\n\n\n\n(c) Copyright Waymaker BIT News - Cision 2026"},"type":"article","timestamp":"2026-05-28T06:30:09.172598702Z","server_sent_at_ms":1779949809172},"received_at":"2026-05-28T06:30:09.323Z","source_url":"https://news.cision.com/shamaran-petroleum-corp-/r/shamaran-announces-completion-of-corporate-continuance-to-bermuda-and-update-on-primary-listing-in-o%2Cc4354200"},"analysis":{"id":"36804","press_release_id":"47369","analysis_json":{"industry":{"label":"Oil, Gas & Consumable Fuels","sector":"Energy"},"redFlags":["offering priced at 10% discount to VWAP","use of proceeds is 'general corporate purposes'"],"eventType":"offering","narrative":"ShaMaran Petroleum has completed its corporate continuance from Canada to Bermuda and delisted from the TSX Venture Exchange.\n\nThe company’s shares are expected to begin trading on the Euronext Growth Oslo market (EGO) on June 5, 2026, under the ticker SNM.\n\nTo satisfy EGO listing criteria, ShaMaran is conducting a private placement of up to EUR 1 million, priced at a 10% discount to the VWAP of its Swedish depositary receipts.","sentiment":"neutral","agentHooks":{"shouldPost":false,"suggestedAngle":"ShaMaran completes redomicile to Bermuda and prepares for Oslo listing with small EUR 1M raise."},"keyFigures":{"dealValueUsd":1000000,"offeringPrice":0,"sharesOffered":0,"customDimensions":{"listing_date":"June 5, 2026","offering_currency":"EUR","offering_discount":"10%"}},"quotedText":"ShaMaran Petroleum Ltd., formerly ShaMaran Petroleum Corp., (“ShaMaran” or the “Company”) (Nasdaq First North: SNM) has completed the previously announced corporate continuance from Canada to Bermuda.","namedEntities":{"people":[{"name":"Elvis Pellumbi","role":"CFO"}],"products":[],"companies":[{"name":"ShaMaran Petroleum Ltd.","ticker":"SNM","relationship":"filer"},{"name":"Pareto Securities AS","relationship":"underwriter"},{"name":"Nordnet","relationship":"platform"},{"name":"DNB Bank ASA","relationship":"custodian"},{"name":"Lundin Group of Companies","relationship":"parent/affiliate"},{"name":"Oslo Stock Exchange","relationship":"exchange"},{"name":"TSX Venture Exchange","relationship":"former exchange"},{"name":"Nasdaq First North","relationship":"former exchange"}],"dollarAmounts":[{"amount":"EUR 1 million","context":"maximum size of private placement"},{"amount":"NOK 5,500","context":"minimum order size"},{"amount":"NOK 1,000,000","context":"maximum order size"}]},"materialImpact":{"score":2,"reasoning":"The release confirms the completion of a corporate continuance (redomicile) to Bermuda and a listing change to Oslo, which are administrative milestones. It also announces a small private placement of up to EUR 1 million (approx. $1.1M) to satisfy listing criteria. The offering is small relative to the company's operations and priced at a 10% discount, but the primary news is the successful execution of the listing strategy rather than a dilutive capital raise for growth."},"tickerRelevance":{"others":[],"primary":"SNM"},"globalImportance":15,"audienceRelevance":10,"eventTypeSecondary":["ticker_change"],"importanceComponents":{"tickerTier":"micro-cap","eventGravity":"administrative_listing_change","sectorWeight":"energy","householdBrandBoost":0,"marketCapAdjustment":"low","retailFavoriteBoost":0}},"event_type":"offering","event_type_secondary":["ticker_change"],"sentiment":"neutral","material_impact_score":2,"narrative":"ShaMaran Petroleum has completed its corporate continuance from Canada to Bermuda and delisted from the TSX Venture Exchange.\n\nThe company’s shares are expected to begin trading on the Euronext Growth Oslo market (EGO) on June 5, 2026, under the ticker SNM.\n\nTo satisfy EGO listing criteria, ShaMaran is conducting a private placement of up to EUR 1 million, priced at a 10% discount to the VWAP of its Swedish depositary receipts.","key_figures":{"dealValueUsd":1000000,"offeringPrice":0,"sharesOffered":0,"customDimensions":{"listing_date":"June 5, 2026","offering_currency":"EUR","offering_discount":"10%"}},"named_entities":{"people":[{"name":"Elvis Pellumbi","role":"CFO"}],"products":[],"companies":[{"name":"ShaMaran Petroleum Ltd.","ticker":"SNM","relationship":"filer"},{"name":"Pareto Securities AS","relationship":"underwriter"},{"name":"Nordnet","relationship":"platform"},{"name":"DNB Bank ASA","relationship":"custodian"},{"name":"Lundin Group of Companies","relationship":"parent/affiliate"},{"name":"Oslo Stock Exchange","relationship":"exchange"},{"name":"TSX Venture Exchange","relationship":"former exchange"},{"name":"Nasdaq First North","relationship":"former exchange"}],"dollarAmounts":[{"amount":"EUR 1 million","context":"maximum size of private placement"},{"amount":"NOK 5,500","context":"minimum order size"},{"amount":"NOK 1,000,000","context":"maximum order size"}]},"model_name":"qwen3_6_27b_awq","prompt_hash":"sha256:727b4b9429a443af","schema_hash":"sha256:05005c02d9cffac9","created_at":"2026-05-28T06:31:29.461Z","global_importance":15,"audience_relevance":10,"importance_components":{"tickerTier":"micro-cap","eventGravity":"administrative_listing_change","sectorWeight":"energy","householdBrandBoost":0,"marketCapAdjustment":"low","retailFavoriteBoost":0}},"durationMs":80050,"modelName":"george-droid-qwen-72b"}}