ShaMaran Petroleum Corp (TSXV:SNM) announced a private placement of 360,000,000 common shares through an accelerated book-building process on January 19, 2017. The transaction will involve participation from Lundin family trusts. The transaction is subject to certain customary conditions including, but not limited to, execution of subscription agreements between the agent, or the company, and the subscribers and TSX Venture Exchange approval. The transaction is expected to close on January 20, 2017.