SOUTHERN ENERGY CORP. ANNOUNCES STOCK OPTION GRANT

RNS Number : 4264O

Southern Energy Corp.

07 October 2021

 

SOUTHERN ENERGY CORP. ANNOUNCES STOCK OPTION GRANT

Calgary, Alberta - October 7, 2021 - Southern Energy Corp. ("Southern" or the "Company") (SOU: TSXV) (AIM:SOUC), a U.S.-focused, growth-oriented oil and natural gas producer, announces, further to the Company's announcement released earlier today, additional details in respect of the, in aggregate, 11,425,000 options to purchase common shares of the Company to directors, officers and employees of Southern as part of our overall compensation and employee retention program (the "Options").

In aggregate, 8,865,000 of the Options were issued to directors and PDMRs of the Company, as set out below:

DPDMR	Position	Options Awarded
Ian Atkinson	President and CEO (Director)	1,500,000
Calvin Yau	VP Finance & CFO	1,080,000
Erin Buschert	VP Land	1,080,000
Jim McFadyen	VP Operations	1,080,000
Gary McMurren	VP Engineering	1,080,000
Bruce Beynon	Director	435,000
Michael Kohut	Director	435,000
Tamara MacDonald	Director	435,000
Andrew McCreath	Director	435,000
Joseph Nally	Director	435,000
Neil Smith	Director	435,000
Steven Smith	Director	435,000

The Options expire five years from the date of grant, are exercisable at a price of CAD0.07 per common share, and vest as to one third on the grant date and one third on each of the first and second anniversaries of the grant date.

For further information, please contact :

Southern Energy Corp. Ian Atkinson (President and CEO) Calvin Yau (VP Finance and CFO)	[phone] [phone]
Strand Hanson Limited - Nominated & Financial Adviser James Spinney / James Bellman  Hannam & Partners - Joint Broker Sam Merlin / Ernest Bell Canaccord Genuity - Joint Broker Henry Fitzgerald-O'Connor / James Asensio	[phone] [phone] [phone]
Camarco James Crothers, Billy Clegg, Daniel Sherwen	[phone]

About Southern Energy Corp.

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 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.

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.

PDMR NOTIFICATION FORMS

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Ian Atkinson
2	Reason for the notification
a)	Position/status	President and Chief Executive Officer (Director)
b)	Initial notification /Amendment	Initial notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Southern Energy Corp.
b)	LEI	213800R25GL7J3EBJ698
4	Details of the transaction(s): section to be repeated for (i) 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 financial instrument, type of instrument	Options to acquire common shares in Southern Energy Corp.
	Identification code	CA8428131079
b)	Nature of the transaction	Grant of share options
c)	Price(s) and volume(s)	1,500,000 options with an exercise price of CAD0.07
d)	Aggregated information	N/A
e)	Date of the transaction	7 October 2021
f)	Place of the transaction	Outside of a trading venue

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Calvin Yau
2	Reason for the notification
a)	Position/status	VP Finance and CFO
b)	Initial notification /Amendment	Initial notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Southern Energy Corp.
b)	LEI	213800R25GL7J3EBJ698
4	Details of the transaction(s): section to be repeated for (i) 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 financial instrument, type of instrument	Options to acquire common shares in Southern Energy Corp.
	Identification code	CA8428131079
b)	Nature of the transaction	Grant of share options
c)	Price(s) and volume(s)	1,080,000 options with an exercise price of CAD0.07
d)	Aggregated information	N/A
e)	Date of the transaction	7 October 2021
f)	Place of the transaction	Outside of a trading venue

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Erin Buschert
2	Reason for the notification
a)	Position/status	VP Land
b)	Initial notification /Amendment	Initial notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Southern Energy Corp.
b)	LEI	213800R25GL7J3EBJ698
4	Details of the transaction(s): section to be repeated for (i) 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 financial instrument, type of instrument	Options to acquire common shares in Southern Energy Corp.
	Identification code	CA8428131079
b)	Nature of the transaction	Grant of share options
c)	Price(s) and volume(s)	1,080,000 options with an exercise price of CAD0.07
d)	Aggregated information	N/A
e)	Date of the transaction	7 October 2021
f)	Place of the transaction	Outside of a trading venue

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Jim McFadyen
2	Reason for the notification
a)	Position/status	VP Operations
b)	Initial notification /Amendment	Initial notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Southern Energy Corp.
b)	LEI	213800R25GL7J3EBJ698
4	Details of the transaction(s): section to be repeated for (i) 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 financial instrument, type of instrument	Options to acquire common shares in Southern Energy Corp.
	Identification code	CA8428131079
b)	Nature of the transaction	Grant of share options
c)	Price(s) and volume(s)	1,080,000 options with an exercise price of CAD0.07
d)	Aggregated information	N/A
e)	Date of the transaction	7 October 2021
f)	Place of the transaction	Outside of a trading venue

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Gary McMurren
2	Reason for the notification
a)	Position/status	VP Engineering
b)	Initial notification /Amendment	Initial notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Southern Energy Corp.
b)	LEI	213800R25GL7J3EBJ698
4	Details of the transaction(s): section to be repeated for (i) 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 financial instrument, type of instrument	Options to acquire common shares in Southern Energy Corp.
	Identification code	CA8428131079
b)	Nature of the transaction	Grant of share options
c)	Price(s) and volume(s)	1,080,000 options with an exercise price of CAD0.07
d)	Aggregated information	N/A
e)	Date of the transaction	7 October 2021
f)	Place of the transaction	Outside of a trading venue

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Bruce Beynon
2	Reason for the notification
a)	Position/status	Director
b)	Initial notification /Amendment	Initial notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Southern Energy Corp.
b)	LEI	213800R25GL7J3EBJ698
4	Details of the transaction(s): section to be repeated for (i) 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 financial instrument, type of instrument	Options to acquire common shares in Southern Energy Corp.
	Identification code	CA8428131079
b)	Nature of the transaction	Grant of share options
c)	Price(s) and volume(s)	435,000 options with an exercise price of CAD0.07
d)	Aggregated information	N/A
e)	Date of the transaction	7 October 2021
f)	Place of the transaction	Outside of a trading venue

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Michael Kohut
2	Reason for the notification
a)	Position/status	Director
b)	Initial notification /Amendment	Initial notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Southern Energy Corp.
b)	LEI	213800R25GL7J3EBJ698
4	Details of the transaction(s): section to be repeated for (i) 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 financial instrument, type of instrument	Options to acquire common shares in Southern Energy Corp.
	Identification code	CA8428131079
b)	Nature of the transaction	Grant of share options
c)	Price(s) and volume(s)	435,000 options with an exercise price of CAD0.07
d)	Aggregated information	N/A
e)	Date of the transaction	7 October 2021
f)	Place of the transaction	Outside of a trading venue

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Tamara MacDonald
2	Reason for the notification
a)	Position/status	Director
b)	Initial notification /Amendment	Initial notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Southern Energy Corp.
b)	LEI	213800R25GL7J3EBJ698
4	Details of the transaction(s): section to be repeated for (i) 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 financial instrument, type of instrument	Options to acquire common shares in Southern Energy Corp.
	Identification code	CA8428131079
b)	Nature of the transaction	Grant of share options
c)	Price(s) and volume(s)	435,000 options with an exercise price of CAD0.07
d)	Aggregated information	N/A
e)	Date of the transaction	7 October 2021
f)	Place of the transaction	Outside of a trading venue

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Andrew McCreath
2	Reason for the notification
a)	Position/status	Director
b)	Initial notification /Amendment	Initial notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Southern Energy Corp.
b)	LEI	213800R25GL7J3EBJ698
4	Details of the transaction(s): section to be repeated for (i) 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 financial instrument, type of instrument	Options to acquire common shares in Southern Energy Corp.
	Identification code	CA8428131079
b)	Nature of the transaction	Grant of share options
c)	Price(s) and volume(s)	435,000 options with an exercise price of CAD0.07
d)	Aggregated information	N/A
e)	Date of the transaction	7 October 2021
f)	Place of the transaction	Outside of a trading venue

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Joseph Nally
2	Reason for the notification
a)	Position/status	Director
b)	Initial notification /Amendment	Initial notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Southern Energy Corp.
b)	LEI	213800R25GL7J3EBJ698
4	Details of the transaction(s): section to be repeated for (i) 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 financial instrument, type of instrument	Options to acquire common shares in Southern Energy Corp.
	Identification code	CA8428131079
b)	Nature of the transaction	Grant of share options
c)	Price(s) and volume(s)	435,000 options with an exercise price of CAD0.07
d)	Aggregated information	N/A
e)	Date of the transaction	7 October 2021
f)	Place of the transaction	Outside of a trading venue

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Neil Smith
2	Reason for the notification
a)	Position/status	Director
b)	Initial notification /Amendment	Initial notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Southern Energy Corp.
b)	LEI	213800R25GL7J3EBJ698
4	Details of the transaction(s): section to be repeated for (i) 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 financial instrument, type of instrument	Options to acquire common shares in Southern Energy Corp.
	Identification code	CA8428131079
b)	Nature of the transaction	Grant of share options
c)	Price(s) and volume(s)	435,000 options with an exercise price of CAD0.07
d)	Aggregated information	N/A
e)	Date of the transaction	7 October 2021
f)	Place of the transaction	Outside of a trading venue

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Steven Smith
2	Reason for the notification
a)	Position/status	Director
b)	Initial notification /Amendment	Initial notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Southern Energy Corp.
b)	LEI	213800R25GL7J3EBJ698
4	Details of the transaction(s): section to be repeated for (i) 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 financial instrument, type of instrument	Options to acquire common shares in Southern Energy Corp.
	Identification code	CA8428131079
b)	Nature of the transaction	Grant of share options
c)	Price(s) and volume(s)	435,000 options with an exercise price of CAD0.07
d)	Aggregated information	N/A
e)	Date of the transaction	7 October 2021
f)	Place of the transaction	Outside of a trading venue

 

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