Southern Energy Corp. DIRECTOR/PDMR DEALING (3580X)

TIDMSOUC

RNS Number : 3580X

Southern Energy Corp.

25 April 2023

DIRECTOR/PDMR DEALING

Calgary, Alberta - April 25, 2023 - 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 detail on the applicable transactions.

 
       Details of the person discharging managerial responsibilities 
  1.    / person closely associated 
 a)    Name                             1. Ian Atkinson 
                                         2. Calvin Yau 
                                         3. Gary McMurren 
      --------------------------  ------------------------------------------------ 
       Reason for the notification 
  2. 
      ---------------------------------------------------------------------------- 
 a)    Position/status                  1. Director, President and Chief Executive 
                                         Officer 
                                         2. Chief Financial Officer 
                                         3. Chief Operating Officer 
      --------------------------  ------------------------------------------------ 
 b)    Initial notification        Initial notification 
        /Amendment 
      --------------------------  ------------------------------------------------ 
       Details of the issuer, emission allowance market participant, 
  3.    auction platform, auctioneer or auction monitor 
      ---------------------------------------------------------------------------- 
 a)    Name                        Southern Energy Corp. 
      --------------------------  ------------------------------------------------ 
 b)    LEI                         213800R25GL7J3EBJ698 
      --------------------------  ------------------------------------------------ 
       Details of the transaction(s): section to be repeated for (i) 
  4.    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          Common Shares in Southern Energy Corp. 
        financial instrument, 
        type of instrument 
 
       Identification code         CA8428131059 
 
 b)    Nature of the transaction   Purchase of Common Shares 
      --------------------------  ------------------------------------------------ 
 c)    Price(s) and volume(s)        Volumes           Prices 
                                           1. 60,000    CAD0.30 
                                            1. 10,000    CAD0.305 
                                                       ---------- 
                                           2. 100,000   CAD0.30 
                                                       ---------- 
                                           3. 27,000    CAD0.30 
                                            3. 15,000    CAD0.305 
                                            3. 8,000     CAD0.31 
                                            3. 10,000    CAD0.315 
                                                       ---------- 
 d)    Aggregated information           1. 70,000 at an average price of CAD0.301 
                                        2. N/A, single transaction 
                                         3. 60,000 at an average price of CAD0.305 
 
 e)    Date of the transaction     20 April 2023, 21 April 2023 & 24 April 2023 
      --------------------------  ------------------------------------------------ 
 f)    Place of the transaction    Outside of a trading venue 
      --------------------------  ------------------------------------------------ 
 

For further information, please contact :

 
                           Southern Energy Corp. 
      Ian Atkinson (President and CEO)                 [phone] 
      Calvin Yau (CFO)                                 [phone] 
               Strand Hanson Limited - Nominated & Financial 
                                   Adviser 
    James Spinney / James Bellman                   [phone] 
 
                      Canaccord Genuity - Joint Broker 
    Henry Fitzgerald-O'Connor / James Asensio        [phone] 
               Stifel Nicolaus Europe Limited - Joint Broker 
    Callum Stewart / Ashton Clanfield               [phone] 
 
                     Tennyson Securities - Joint Broker 
    Peter Krens / Pav Sanghera                       [phone] 
 
                                   Camarco 
    Owen Roberts / Billy Clegg / Hugo Liddy          [phone] 
 

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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April 25, 2023 02:00 ET (06:00 GMT)