VANCOUVER, BRITISH COLUMBIA--(Marketwired - June 15, 2016) - ShaMaran Petroleum Corp.
("ShaMaran" or the "Company") (TSX VENTURE:SNM)(OMX:SNM) is pleased to report that at the Company's Annual General Meeting held
today in Vancouver, shareholders received the consolidated audited financial statements of the Company for the year ended
December 31, 2015 and approved all of the resolutions put forward at the meeting, namely:
- Appointed PricewaterhouseCoopers SA, as auditor of the Company for the ensuing year and authorized the directors to fix
their remuneration;
- Fixed the number of directors at five (5);
- Elected Keith Hill, Chris Bruijnzeels, C. Ashley Heppenstall, Brian Edgar, and Gary Guidry as directors for the ensuing
year;
- Approved the Amendment of the Company's incentive stock option plan;
- Approved the Company's incentive stock option plan; and
- Approved the Company's Share Unit Plan.
ABOUT SHAMARAN
ShaMaran Petroleum Corp. is a Kurdistan focused oil development and exploration company with a 26.8% direct interest in the
Atrush oil discovery until such time that the Kurdistan Regional Government has completed the exercise of its right to acquire up
to a 25% interest. The Atrush Block is currently undergoing an appraisal and development campaign.
ShaMaran is a Canadian oil and gas company listed on the TSX Venture Exchange and the NASDAQ OMX First North Exchange
(Stockholm) under the symbol "SNM". Neither the 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. Pareto
Securities AB is the Company's Certified Advisor on NASDAQ OMX First North.