ShaMaran Corporate Update
VANCOUVER, BRITISH COLUMBIA, July 26, 2023 /CNW/ – ShaMaran Petroleum Corp. (TSX Venture and Nasdaq First North: SNM) (“ShaMaran” or the “Company”) provides the following update on the Company’s previously disclosed engagement with its bondholders. ShaMaran requested a bond waiver to release cash from the Debt Service Retention Account (“DSRA”) and received the affirmative vote from 100% of those voting, representing approximately 74% of its bondholders. The waiver allows the Company to use restricted cash in the DSRA to pay the bond interest and amortization obligations due on July 30,