SHAMARAN ANNOUNCES ANNUAL GENERAL MEETING RESULTS

VANCOUVER, BC, June 23, 2022 /CNW/ - ShaMaran Petroleum Corp. ("ShaMaran" or the "Company") (TSXV: SNM) (Nasdaq First North Growth Market (Sweden): SNM)) is pleased to report that at the Company's Annual General Meeting (the "Meeting") held today in Vancouver, shareholders received the consolidated audited financial statements of the Company for the year ended December 31, 2021 and approved all of the resolutions put forward at the Meeting, namely: View PDF

1. Appointed PricewaterhouseCoopers SA, as auditor of the Company for the ensuing year and authorized the directors to fix their remuneration;
2. Fixed the number of directors at six (6);
3. Elected Chris Bruijnzeels, Adel Chaouch, Michael Ebsary, Keith C. Hill, William A.W. Lundin and Nick Walker as directors of the Company for the ensuing year; and
4. Approved the Company's incentive stock option plan.

Following the Meeting, the Board of Directors re-appointed the officers of the Company to be:

President & CEO Adel Chaouch
Chief Commercial Officer & Corporate Secretary Alex C. Lengyel
Assistant Corporate Secretary Suzanne Ferguson

OTHER

This information contains information that ShaMaran is obliged to make public pursuant to the EU Market Abuse Regulation and was submitted for publication, through the agency of the contact persons set out below, on June 23, 2022 at 5:30 p.m. Eastern Time. Arctic Securities AS (Swedish branch) is the Company's Certified Adviser on Nasdaq First North Growth Market (Sweden) +46 844 68 61 00, certifiedadviser@arctic.com.

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.

ABOUT SHAMARAN

ShaMaran is a Kurdistan focused oil development and exploration company which holds a 27.6% working interest, through its wholly-owned subsidiary General Exploration Partners, Inc., in the Atrush Block and as announced in the Company's news release of July 12, 2021 upon successful closing of the acquisition from a TotalEnergies' affiliate will then also hold an 18% interest through its then wholly-owned subsidiary TEPKRI Sarsang A/S in the Sarsang Block.

ShaMaran is a Canadian oil and gas company listed on the TSX Venture Exchange and the Nasdaq First North Growth Market (Sweden) under the symbol "SNM" and is part of the "Lundin Group of Companies".

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SOURCE ShaMaran Petroleum Corp.

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