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

LUXEMBOURG, June 22, 2018 /CNW/ - Zebra Holdings and Investments S.à.r.l. ("Zebra"), a company controlled by a trust settled by the late Adolf H. Lundin, incorporated under the laws of Luxembourg, 40, Boulevard Grande Duchesse Charlotte, L-1330 Luxembourg, announced today that it had acquired 121,584,842 common shares of ShaMaran Petroleum Corp.  ("ShaMaran" or the "Company" - TSXV:SNM.V and NASDAQ First North: SNM.ST) for SEK 0.6815 (Cdn$0.1022) per common share representing approximately 5.63% of the Company's  issued and outstanding share capital. The common shares were acquired by private agreement through the facilities of the NASDAQ First North on June 21, 2018 for a total consideration of SEK82,860,069.82 (Cdn$12,425,970.90).

As a result of this acquisition, Zebra now holds a total of 382,347,532 common shares or approximately 17.71% whereas Lorito Holdings S.à.r.l.'s ("Lorito"), a company controlled by the same trust, holdings remained unchanged at 101,887,408 common shares representing approximately 4.72% of the Company's issued and outstanding share capital. Collectively, Zebra and Lorito now hold a total of 484,234,940 common shares representing approximately 22.43% of the Company's issued and outstanding share capital.

Lorito and Zebra are joint actors with respect to their common shares of ShaMaran which were acquired for investment purposes. Each of Lorito and Zebra 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, 1-604-806-3574

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