VANCOUVER, BC, Dec. 31,
2024 /CNW/ - ShaMaran Petroleum Corp. ("ShaMaran"
or the "Company") (TSXV: SNM) (Nasdaq First North: SNM)
announces that a total of 15,140,000 stock options and 21,340,000
Restricted Share Units ("RSUs") were granted today ("Grant Date")
to certain officers, employees and other eligible persons of the
Company pursuant to the Company's Stock Option Plan and Share Unit
Plan. In addition, a total of 1,921,480 Deferred Share Units
("DSUs") were granted today to the non-executive directors of the
Company pursuant to the Company's Deferred Share Unit Plan. PDF
Version
The stock options have a five-year term, vest in three equal
annual installments starting from the Grant Date and were issued
with an exercise price of CAD 0.12
per share, based on the closing share price on December 30, 2024. The RSUs vest equally over the
next three years.
Following these grants, there are 72,523,330 stock options,
65,349,997 RSUs and 22,270,235 DSUs outstanding under the Company's
long-term incentive plans.
ShaMaran plans to publish its financial statements for the year
ending December 31, 2024, on March 12,
2025.
About ShaMaran Petroleum Corp.
ShaMaran is a Canadian independent oil and gas company focused
on the Kurdistan region of
Iraq. The Company indirectly holds
a 50% working interest (66.67% paying interest) in the Atrush Block
and an 18% working interest (22.5% paying interest) in the Sarsang
Block. The Company is listed in Toronto on the TSX Venture Exchange and in
Stockholm on Nasdaq First North
Growth Market (ticker "SNM"). ShaMaran is part of the Lundin Group
of Companies.
Important Information
ShaMaran is obliged to make this information public pursuant
to the EU Market Abuse Regulation. This information was submitted
for publication through the agency of the contact person set out
below on December 31, 2024,
at 8:30 a.m. Eastern Time.
The Company's certified advisor on Nasdaq First North Growth
Market is FNCA Sweden AB.
Forward-Looking Statements
Certain statements contained in this press release constitute
forward-looking information. These statements relate to future
events or the Company's future performance, business prospects and
opportunities, which are based on assumptions of
management.
The use of any of the words "will", "expected", "planned" and
similar expressions and statements relating to matters that are not
historical facts are intended to identify forward-looking
information and are based on the Company's current belief or
assumptions as to the outcome and timing of certain future events.
Certain information set forth in this news release contains
forward-looking statements. These forward-looking statements
involve risks and uncertainties relating to, among other things,
changes in oil prices, results of exploration and development
activities, including results, timing and costs of seismic,
drilling and development related activity in the Company's area of
operations, uninsured risks, regulatory changes, defects in title,
availability of funds required to participate in the development
activities, availability of financing on reasonable terms,
availability of materials and equipment on satisfactory terms,
outcome of commercial negotiations with government and other
regulatory authorities, timeliness of government or other
regulatory approvals, actual performance of facilities,
availability of third party service providers, equipment and
processes relative to specifications and expectations and
unanticipated environmental impacts on operations. The risks
outlined above should not be construed as exhaustive. Additional
information on these and other factors that could affect the
Company's operations and financial results are included in the
Company's annual information form for the year ended December 31, 2023, and other reports on file with
the Canadian Securities Regulatory Authorities that can be accessed
on the Company's profile on SEDAR+. Actual future results may
differ materially. The forward-looking information contained in
this release is made as of the date hereof, and the Company is not
obligated to update or revise any forward-looking information,
whether as a result of new information, future events or otherwise,
except as required by applicable securities laws. Because of the
risks, uncertainties and assumptions contained herein, investors
should not place undue reliance on forward-looking information. The
foregoing statements expressly qualify any forward-looking
information.
Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
SOURCE ShaMaran Petroleum Corp.
