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Southern Energy Corp. Announces Payment of Interest In-Kind to its 8% Convertible Unsecured Subordinated Debentures
Southern Energy Corp. Announces Payment of Interest In-Kind to its 8% Convertible Unsecur...
About this update from Southern Energy Corp.
[{"type":"text","content":"\n \n \n \n Southern Energy Corp. Announces Payment of Interest In-Kind to its 8% Convertible Unsecured Subordinated Debentures\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 CALGARY, AB\n \n ,\n \n July 14, 2021\n \n /CNW/ -\n \n Southern Energy Corp.\n \n (\"\n \n Southern\n \n \" or the \"\n \n Company\n \n \") (TSXV: SOU) announces that the Company has issued 3,901,775 common shares of Southern (the \"\n \n Common Shares\n \n \") to holders of its 8% convertible unsecured subordinated debentures issued on\n \n June 14, 2019\n \n and\n \n January 15, 2021\n \n (collectively, the \"\n \n Debentures\n \n \") as payment in kind of accrued interest on the Debentures due on\n \n June 30, 2021\n \n in the aggregate amount of\n \n $335,560.00\n \n (the \"\n \n Interest Payment\n \n \"). The number of Common Shares issued is equal to the amount of the interest, divided by the volume weighted average trading price per Common Share for the 20 consecutive trading days ending on the fifth trading day preceding\n \n June 30, 2021\n \n , being\n \n $0.086\n \n per Common Share. Southern gave notice to Computershare Trust Company of\n \n Canada\n \n , as debenture trustee, effective\n \n June 30, 2021\n \n that it exercised its right to make the Interest Payment by issuing common shares.\n \n \n \n About Southern Energy Corp.\n \n \n \n Southern Energy Corp. is an oil and 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\n \n Mississippi\n \n ,\n \n Louisiana\n \n , and\n \n East Texas\n \n . 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.\n \n \n \n READER ADVISORY\n \n \n \n \n \n Forward Looking Statements.\n \n \n \n Certai...