ShaMaran Corporate Update
VANCOUVER, July 1, 2020 /CNW/ - ShaMaran Petroleum Corp. ("ShaMaran" or the "Company") (SNM - TSXV, Nasdaq First North Growth Market) provides the following update to stakeholders in connection with the Company’s news release dated June 25, 2020 regarding the Proposal that was submitted to the Bondholders relating to the Company’s 12% senior unsecured bonds due 2023 (ISIN: NO 001082645.6). ShaMaran is pleased to announce that the Proposal has been approved by the affirmative vote of more than 66 2/3% of the Bondholders regarding the Company’s breach of financial covenant and liquidity