ShaMaran Announces Proposed Primary Listing in Oslo and Corporate Continuance to Bermuda

Executive Summary

• ShaMaran Petroleum Corp. proposes to move its primary listing from the TSX Venture Exchange (TSXV) to Euronext Growth Oslo (EGO) and to continue supporting its secondary Nasdaq First North listing in Stockholm.
• The company will also effect a corporate continuance, relocating its legal domicile from British Columbia, Canada to Bermuda, which would terminate its Canadian reporting obligations.
• A special shareholders’ meeting is scheduled for March 10 2026 to approve the continuance; if approved, the changes are expected to become effective around March 16 2026.

Key Details

• Proposed Primary Listing: Transfer from TSXV to Euronext Growth Oslo (EGO) operated by the Oslo Stock Exchange.
• Secondary Listing: Continued support for Nasdaq First North Growth Market in Stockholm.
• Corporate Continuance: Relocation of incorporation from British Columbia, Canada to Bermuda; will cease to be a reporting issuer in all Canadian jurisdictions.
• Shareholder Action Required: Special meeting on March 10 2026 (record date Jan 21 2026) to approve the continuance resolution (minimum 66⅔% approval needed).
• Effective Date: Anticipated around March 16 2026, subject to regulatory approvals and bond documentation conditions.
• Share Structure Impact: Shares held through Euroclear Sweden will be exchanged for Swedish Depositary Receipts (SDRs) issued by DNB Bank ASA, Sweden Branch; ISIN codes and exchange dates to be announced prior to the effective date.
• Support from Major Shareholder: Unconditional support received from Lundin family trust (Nemesia S.à.r.l.) for both continuance and Oslo relisting.
• CEO Comment: Garrett Soden highlighted expected benefits—attracting international oil & gas investors, increased trading liquidity, and more efficient dividend payments. No capital raise is anticipated; major shareholders do not intend to sell shares as part of the listing process.

Notable Quotes

“The proposed primary listing in Oslo and move to Bermuda should attract new international oil and gas investors, increase trading liquidity and allow ShaMaran to pay dividends more efficiently.” – Garrett Soden, President & CEO

All boilerplate, forward‑looking disclaimer, and contact information have been omitted for brevity.