Nemesia Sarl Aquires Shares of Shamaran Petroleum Corp From Lorito Holdings Sarl

This AMENDED Press Release supercedes and has been prepared and is being filed to restate the post-transaction holdings previously reported in the release of July 21, 2021. 

LUXEMBOURG, July 22, 2021 /CNW/ - Following a corporate reorganization among three companies controlled by a trust settled by the late Adolf H. Lundin, i.e. Nemesia S.à.r.l. ("Nemesia"), Lorito Holdings S.à.r.l. ("Lorito") and Zebra Holdings and Investments S.à.r.l ("Zebra") all of 40, Boulevard Grande Duchesse Charlotte, L-1330 Luxembourg, Nemesia announced today that on July 20, 2021, pursuant to a private arrangement, it had acquired 101,887,408 common shares of Shamaran Petroleum Corp ("Shamaran" – TSX "SNM" – OMX Stockholm "SNM") from Lorito representing approximately 0.40% of the outstanding shares of Shamaran. The purchase and sale were executed at the price of SEK0.3985 (Cdn$0.057822) for a total consideration of SEK40,602,139.09 (Cdn$5,891,333.71).

The purchase of the shares was made pursuant to the private agreement exemption set forth in Item 4.2. of the National Instrument 62-104 as it was a purchase from not more than 5 persons in the aggregated, and the price paid for the shares, including brokerage fees or commissions, was not greater than 115 % of the simple average closing price of the last 20 days of trading preceding the acquisition of the shares.

As a result of this acquisition, Nemesia now holds 131,247,408 common shares or approximately 5.96% of the issued and outstanding common shares of Shamaran whereas the disposal by Lorito reduced the latter's position to zero with Zebra continuing to hold 382,347,532 common shares or 17.37%. Collectively, the three companies, fully owned by the same Trust, continue to hold an unchanged total of 513,194,940 common shares or approximately 23.33% of the issued and outstanding share capital of Shamaran.

Nemesia, Lorito and Zebra are joint actors with respect to their common shares of Shamaran. Nemesia acquired the common shares of Shamaran for investment purposes. Each of Nemesia, Lorito and Zebra may from time to time make future investment in or dispose of common shares of Shamaran depending upon the business and prospects of Shamaran and depending upon future market conditions.

SOURCE Nemesia Sàrl

Aksel Azrac, Telephone Number: + 41 22 595 1875