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VANCOUVER, BRITISH COLUMBIA--(Marketwired - May 3, 2016) - ShaMaran Petroleum Corp. ("ShaMaran" or the "Company") (TSX VENTURE:SNM)(OMX:SNM) is pleased to announce that, further to its news releases dated April 19, 2016 and April 28, 2016, concerning the Company's proposed financing arrangement (the "Financing Arrangement"), the TSX Venture Exchange has approved the conversion of USD $18 million (CAD$22,980,600) of bonds (the "Existing Bonds") at face value into common shares of ShaMaran. The Existing Bonds are listed on the Oslo stock exchange and were issued November 13, 2013 by General Exploration Partners, Inc. ("GEP"), a wholly owned subsidiary of ShaMaran. |
