Zebra Holdings and Investments S.à.r.l. Acquires Shares of Shamaran Petroleum Corp.

LUXEMBOURG, Aug. 26, 2021 /CNW/ - Zebra Holdings and Investments S.à.r.l. ("Zebra"), a company controlled by a Trust settled by the late Adolf H. Lundin and acting as joint actor in conjunction with Lorito Holdings S.à.r.l. ("Lorito") and Nemesia S.à.r.l. ("Nemsia"), also controlled by the same Trust and all incorporated under the laws of Luxembourg, 40 Boulevard Grande Duchesse Charlotte, L-1330 Luxembourg , announced today that on August 25, 2021 it had, pursuant to a private agreement, acquired 35'702'711 common shares of ShaMaran Petroleum Corp. ("ShaMaran" or the "Company" –TSXV:SNM and NASDAQ OMX: SNM) for Cdn$0.0550 per common share for a total consideration of Can$1,963,638.11 representing approximately 1.62% of the then issued and outstanding common shares.

The ramifications of Nemesia having been receiving and accumulating Debenture Shares issued under an outstanding debenture financing initially on May 10, 2020 and thereafter monthly since early July 2020 coupled with the acquisition of Lorito's shares in a Corporate reorganization on July 20, 2021 and  now adding the current acquisition by Zebra have resulted in an increase in their combined holdings of approximately 2.62%.   

As a result of the foregoing, Zebra now holds a total of 418,050,243 common shares or approximately 18.97% whereas Lorito holds no common shares and Nemesia holds a total of 133,527,408 common shares or approximately 6,06% of the Company's issued and outstanding share capital respectively. The combined holdings of the three joint actors, i.e. Zebra, Lorito and Nemesia now amount to a total of 551,577,651 common shares of ShaMaran representing approximately 25.03% of the Company's issued and outstanding share capital post Zebra's acquisition.   

Lorito, Nemesia and Zebra are joint actors with respect to their common shares of ShaMaran which were acquired for investment purposes. Each of Lorito, Zebra and Nemesia may from time to time increase or decrease their investments in the common shares of ShaMaran depending upon the business and prospects of ShaMaran and depending upon future market conditions.

A copy of the Early Warning Report filed pursuant to National Instrument 62-103 may be obtained from Sandy Kansky, [phone].

SOURCE Zebra Holdings & Investments S.a.r.l.

Aksel Azrac, Telephone Number: [phone], Fascimile Number: [phone]