ShaMaran Corporate Update
VANCOUVER, June 25, 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 releases dated May 11, 2020 and June 11, 2020 that announced the breach of a financial covenant and imminent liquidity shortfall and recent discussions with its Bondholders: UPDATE ON DISCUSSIONS WITH BONDHOLDERS The Company has been in discussions with the informal Ad Hoc Committee representing approximately more than 50% of the Bondholders (the "AHC") regarding its