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SOUTHERN ENERGY CORP. ANNOUNCES COMPLETION OF US$5 MILLION EQUITY FINANCING
SOUTHERN ENERGY CORP. ANNOUNCES COMPLETION OF US$5 MILLION EQUITY FINANCING Canada News...
About this update from Southern Energy Corp.
[{"type":"text","content":"\n \n \n \n SOUTHERN ENERGY CORP. ANNOUNCES COMPLETION OF US$5 MILLION EQUITY FINANCING\n \n \n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n \n CALGARY, AB\n \n \n ,\n \n \n Nov. 9, 2023\n \n \n /CNW/ -\n \n Southern Energy Corp.\n \n (\"\n \n Southern\n \n \" or the \"\n \n Company\n \n \") (TSXV: SOU) (AIM: SOUC) (OTCQX: SOUTF), a U.S.-focused, growth-oriented natural gas producer, is pleased to announce that it has closed its previously announced equity financing for aggregate gross proceeds of\n \n US$5 million\n \n (approximately £4.1 million,\n \n CAD$6.9 million\n \n ) through the issue of 26,630,000 new Common Shares at a price of\n \n C$0.26\n \n or\n \n 15.5 pence\n \n per Common Share. Defined terms used in this announcement have the same meaning given to them as defined in the Company's announcement released on\n \n 1 November 2023\n \n unless otherwise defined herein.\n \n \n The equity financing comprised of\n \n US$2\n \n .2 million via a Prospectus Offering of 10,712,387 Common Shares,\n \n US$2\n \n .8 million via a Placing of 15,853,097 Common Shares and\n \n US$0\n \n .01 million via a direct subscription with the Company for 64,516 Common Shares. The net proceeds of the Fundraising will be used by the Company to accelerate the completion of its four drilled and uncompleted wells, drilled as part of its Q1 2023 drilling campaign on its Gwinville acreage.\n \n \n \n Admission and Total Voting Rights\n \n \n \n The new Common Shares issued pursuant to the Fundraising were credited as fully paid, rank\n \n pari passu\n \n in all respects with the existing Common Shares and were admitted to trading on AIM at\n \n 8.00 a.m. (GMT)\n \n today (\"\n \n Admission\n \n \").\n \n \n Following Admission of the Common Shares issued pursuant to the financing, the total number of Common Shares in the Company in issue is 165,718,160. This figure may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to...