Southern Energy Corp Announces Up To US$12 Million Equity Financing

THIS ANNOUNCEMENT IS RESTRICTED AND IS NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES, AUSTRALIA, JAPAN, NEW ZEALAND, SOUTH AFRICA OR ANY OTHER JURISDICTION IN WHICH SUCH RELEASE, PUBLICATION OR DISTRIBUTION WOULD BE UNLAWFUL.

THIS ANNOUNCEMENT IS FOR INFORMATION PURPOSES ONLY AND DOES NOT CONSTITUTE: (A) A PROSPECTUS OR OFFERING MEMORANDUM; (B) AN ADMISSION DOCUMENT PREPARED IN ACCORDANCE WITH THE AIM RULES; OR (C) AN OFFER FOR SALE OR SUBSCRIPTION OF ANY SECURITIES IN THE COMPANY. THIS ANNOUNCEMENT DOES NOT CONSTITUTE OR CONTAIN ANY INVITATION, SOLICITATION, RECOMMENDATION, OFFER OR ADVICE TO ANY PERSON TO SUBSCRIBE FOR, OTHERWISE ACQUIRE OR DISPOSE OF ANY SECURITIES OF SOUTHERN ENERGY CORP. IN ANY JURISDICTION IN WHICH ANY SUCH OFFER OR SOLICITATION WOULD BE UNLAWFUL.

THE INFORMATION CONTAINED WITHIN THIS ANNOUNCEMENT IS DEEMED BY THE COMPANY TO CONSTITUTE INSIDE INFORMATION AS STIPULATED UNDER THE MARKET ABUSE REGULATION (REGULATION 596/2014/EU) AS IT FORMS PART OF UK DOMESTIC LAW PURSUANT TO THE EUROPEAN UNION (WITHDRAWAL) ACT 2018, AS AMENDED. UPON PUBLICATION OF THIS ANNOUNCEMENT VIA A REGULATORY INFORMATION SERVICE THIS INSIDE INFORMATION IS NOW CONSIDERED TO BE IN THE PUBLIC DOMAIN.

CALGARY, AB / ACCESSWIRE / October 28, 2021 / Southern Energy Corp. ("Southern" or the "Company") (TSXV:SOU) (AIM:SOUC), a U.S.-focused, growth-oriented natural gas producer, is pleased to announce that it has filed and received a receipt for a preliminary short form prospectus (the "Preliminary Prospectus") in connection with a proposed offering of common shares of no par value ("Common Shares") in the capital of the Company at a price of C$0.05 per Common Share ("Prospectus Offering Price") (the "Prospectus Offering"). In addition, the Company is pleased to announce the launch of a best-efforts private placement to UK investors of new Common Shares ("Placing Shares") at a GBP price approximately equivalent to the Prospectus Offering Price (the "Placing" and, together with the Prospectus Offering, the "Offering"). The Prospectus Offering and the Placing are not inter-conditional, but the Placing will be conducted in conjunction with the Prospectus Offering, with the closing of the Placing intended to coincide with the closing of the Prospectus Offering. The relative offering size of the Prospectus Offering and the Placing, respectively, shall be determined in the context of the market. It is currently anticipated that the aggregate gross proceeds of the Prospectus Offering, together with the aggregate gross proceeds of the Placing, will be up to C$15.25 million (approximately US$12.0 million), representing the issuance of up to an aggregate of 305,000,000 Common Shares pursuant to the Offering.