DIRECTOR/PDMR DEALING
Calgary, Alberta - October 24, 2022 - Southern Energy Corp. ("Southern" or the "Company") (SOU: TSXV) (AIM:SOUC) (OTCQX:SOUTF) announces the following purchase of common shares of no par value in the capital of the Company ("Common Shares").
The notification below, made in accordance with the requirements of the EU Market Abuse Regulation (as applied to UK law), provides further detail on the applicable transaction.
| 1. | Details of the person discharging managerial responsibilities / person closely associated | |
| a) | Name | Joseph Nally |
| 2. | Reason for the notification | |
| a) | Position/status | Non-Executive Director |
| b) | Initial notification /Amendment | Initial notification |
| 3. | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |
| a) | Name | Southern Energy Corp. |
| b) | LEI | 213800R25GL7J3EBJ698 |
| 4. | Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted | |
| a) | Description of the financial instrument, type of instrument | Common Shares in Southern Energy Corp. |
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| Identification code | CA8428131059 | |
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| b) | Nature of the transaction | Purchase of Common Shares |
| c) | Price(s) and volume(s) | 50,000 common shares at a price of GBP0.5595 per share |
| d) | Aggregated information | N/A, single transaction |
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| e) | Date of the transaction | 20 October 2022 |
| f) | Place of the transaction | Outside of a trading venue |
For further information, please contact:
| Southern Energy Corp. Ian Atkinson (President and CEO) Calvin Yau (CFO) |
+1 587 287 5401 +1 587 287 5402
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| Strand Hanson Limited - Nominated & Financial Adviser James Spinney / James Bellman
Hannam & Partners - Joint Broker Samuel Merlin / Ernest Bell
Canaccord Genuity - Joint Broker Henry Fitzgerald-O'Connor / James Asensio | +44 (0) 20 7409 3494
+44 (0) 20 7907 8500
+44 (0) 20 7523 8000
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Camarco Owen Roberts / Billy Clegg / Hugo Liddy |
+44 (0) 20 3757 4980 |
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About Southern Energy Corp.
Southern Energy Corp. is a natural gas exploration and production company. Southern has a primary focus on acquiring and developing conventional natural gas and light oil resources in the southeast Gulf States of Mississippi, Louisiana, and East Texas. Our management team has a long and successful history working together and have created significant shareholder value through accretive acquisitions, optimization of existing oil and natural gas fields and the utilization of re-development strategies utilizing horizontal drilling and multi-staged fracture completion techniques.
The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulation (EU) No. 596/2014 as it forms part of United Kingdom domestic law by virtue of the European Union (Withdrawal) Act 2018 (as amended).
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