January 20, 2017 / 3:48 PM / 7 months ago

BRIEF-Shamaran Petroleum expects to raise gross proceeds of about CAD 36 million

Jan 20 (Reuters) - Shamaran Petroleum Corp :

* Books closed and pricing set on private placement

* Pricing of private placement was determined during book-building process to be 0.10 Canadian dollar (equal to 0.67 Swedish crown) per share

* Will result in issuance of 360 million common shares for gross proceeds of about 36 million Canadian dollars ($27 million)

* Closing is expected to occur on or about Jan. 30, 2017

* Pareto Securities has been engaged as manager and bookrunner for private placement

* Net proceeds will be used primarily to fund its expenditures related to Atrush field development in the Kurdistan Region of Iraq as well as for general corporate purposes

Source text for Eikon:

Further company coverage: (Gdynia Newsroom)

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