REG - Southern Energy Corp - UPDATE RE SHARE CONSOLIDATION

Southern EnergyAnnouncement

21/12/2021 18:00

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RNS Number : 4089W  Southern Energy Corp.  21 December 2021

 

SOUTHERN ENERGY CORP. ANNOUNCES

UPDATE RE SHARE CONSOLIDATION

 

Calgary, Alberta - December 21, 2021 - Southern Energy Corp. ("Southern" or
the "Company") (SOU: TSXV) (AIM: SOUC), a U.S.-focused, growth-oriented
natural gas producer, is pleased to confirm that its proposed share
consolidation (the "Consolidation") announced on December 10, 2021 has been
approved by the TSX Venture Exchange ("TSX-V"), with trading in the
post-Consolidation Shares to commence at market open on December 22, 2021 on
both AIM and the TSX-V.

 

The 616,901,068 existing Common Shares currently issued and outstanding will
be reduced on the basis of one post-consolidation Common Share for every eight
pre-consolidation Common Shares to approximately 77,112,652 Common Shares on a
post-Consolidation basis ("Consolidated Shares"). The final aggregate number
of Consolidated Shares, taking into account fractional adjustments, will be
announced prior to market open tomorrow morning.

The Consolidated Shares will trade from tomorrow morning under the following
new ISIN, CUSIP and SEDOL codes:

ISIN: CA8428133059

CUSIP: 842813305

SEDOL: BNYL355

 

For more information on the Consolidation, shareholders are encouraged to
refer to the management information circular of the Company dated June 16,
2021, which is available on Southern's SEDAR profile at www.sedar.com
(http://www.sedar.com) .

For further information, please contact:

 

 Southern Energy Corp.

 Ian Atkinson (President and CEO)                           +1 587 287 5401

 Calvin Yau (VP Finance and CFO)                            +1 587 287 5402

 Strand Hanson Limited - Nominated & Financial Adviser      +44 (0) 20 7409 3494

 James Spinney / James Bellman

 Hannam & Partners - Joint Broker                           +44 (0) 20 7907 8500

 Samuel Merlin / Ernest Bell

 Canaccord Genuity - Joint Broker                           +44 (0) 20 7523 8000

 Henry Fitzgerald-O'Connor / James Asensio

 Camarco

 James Crothers, Billy Clegg, Daniel Sherwen                +44 (0) 20 3757 4980

 

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.

Forward-Looking Information

 

Certain information included in this press release constitutes forward-looking
information under applicable securities legislation. Forward-looking
information typically contains statements with words such as "anticipate",
"believe", "expect", "plan", "intend", "estimate", "propose", "project" or
similar words suggesting future outcomes or statements regarding an outlook.
Forward-looking information in this press release may include, but is not
limited to, statements concerning the Consolidation, . The forward-looking
statements contained in this press release are based on certain key
expectations and assumptions made by Southern, including the timing of the
receipt of the required regulatory and third-party approvals relating to the
Consolidation, and the time such post-Consolidation Shares will be trading on
the TSXV and the AIM.

 

Although Southern believes that the expectations and assumptions on which the
forward-looking statements are based are reasonable, undue reliance should not
be placed on the forward-looking statements because the Company can give no
assurance that they will prove to be correct. Since forward-looking statements
address future events and conditions, by their very nature they involve
inherent risks and uncertainties. Actual results could differ materially from
those currently anticipated due to a number of factors and risks. These
include, but are not limited to, the risk that trading of the Common Shares on
a post-Consolidation basis may not take effect when expected. Other risks
faced by the Company are set out in more detail in Southern's Annual
Information Form for the year ended December 31, 2020, which is available
under the Company's SEDAR profile at www.sedar.com (http://www.sedar.com) .

 

The forward-looking information contained in this press release is made as of
the date hereof and Southern undertakes no obligation to update publicly or
revise any forward-looking information, whether as a result of new
information, future events or otherwise, unless required by applicable
securities laws. The forward-looking information contained in this press
release is expressly qualified by this cautionary statement.

 

Neither TSX Venture Exchange nor its Regulation Services Provider (as that
term is defined in the policies of the TSX Venture Exchange) accepts
responsibility for the adequacy or accuracy of this release.

 

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.

 

 

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