SOUTHERN ENERGY CORP.
ANNOUNCES A TOTAL VOTING RIGHTS UPDATE AND DIRECTOR EXERCISE OF WARRANTS
Calgary, Alberta - December 1, 2022 - Southern Energy Corp. ("Southern" or the "Company") (TSXV:SOU) (AIM:SOUC) (OTCQX:SOUTF) announces, further to its announcements on 6 May 2022 and 23 August 2022 regarding the application to AIM for a total block admission of 18,863,750 new common shares in the Company ("Common Shares") (the "Block Admission"), a monthly update to the Company's total voting rights as a result of the exercise of instruments subject to the Block Admission during November 2022.
As at 30 November 2022, Southern had 137,994,410 Common Shares in issue. This figure may be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change in their interest in, the share capital of the Company. There are no Common Shares held in treasury and each Common Share entitles the holder to a single vote at general meetings of the Company.
Director Warrant Exercise
The Company also announces the following purchase of Common Shares by Bruce Beynon, a Director of the Company. This Common Share purchase was made through the exercise of Common Share purchase warrants from the April 2021 non-brokered private placement that allow holders to purchase Common Shares for CAD$0.32 per Common Share.
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 | Bruce Beynon
|
| 2. | Reason for the notification | |
| a) | Position/status | 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. |
| | | |
| Identification code | CA8428131059 | |
| | | |
| b) | Nature of the transaction | Exercise of warrants over Common Shares in the Company
|
| c) | Price(s) and volume(s) | 125,000 Common Shares at a price of CAD0.32 per share
|
| d) | Aggregated information | N/A, single transaction |
| | | |
| e) | Date of the transaction | 30 November 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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| |
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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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