TIDMSOUC

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)                  +1 (0) 587 287 5401 
  Calvin Yau (VP Finance and CFO)                   +1 (0) 587 287 5402 
                                                  +44 (0) 20 7409 
 Strand Hanson Limited - Nominated & Financial     3494 
  Adviser 
  James Spinney / James Bellman 
                                                   +44 (0) 20 7907 
  Hannam & Partners - Joint Broker                 8500 
  Sam Merlin / Ernest Bell 
 
  Canaccord Genuity - Joint Broker                 +44 (0) 20 7523 
  Henry Fitzgerald-O'Connor / James Asensio        8000 
 
 
   Camarco                                          +44 (0) 20 3757 
   James Crothers, Billy Clegg, Daniel Sherwen      4980 
 

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        Initial notification 
       /Amendment 
     --------------------------  --------------------------------------------- 
 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          Options to acquire common shares in Southern 
       financial instrument,       Energy Corp. 
       type of instrument 
 
      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        Initial notification 
       /Amendment 
     --------------------------  --------------------------------------------- 
 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          Options to acquire common shares in Southern 
       financial instrument,       Energy Corp. 
       type of instrument 
 
      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        Initial notification 
       /Amendment 
     --------------------------  --------------------------------------------- 
 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          Options to acquire common shares in Southern 
       financial instrument,       Energy Corp. 
       type of instrument 
 
      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        Initial notification 
       /Amendment 
     --------------------------  --------------------------------------------- 
 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          Options to acquire common shares in Southern 
       financial instrument,       Energy Corp. 
       type of instrument 
 
      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        Initial notification 
       /Amendment 
     --------------------------  --------------------------------------------- 
 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          Options to acquire common shares in Southern 
       financial instrument,       Energy Corp. 
       type of instrument 
 
      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        Initial notification 
       /Amendment 
     --------------------------  --------------------------------------------- 
 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          Options to acquire common shares in Southern 
       financial instrument,       Energy Corp. 
       type of instrument 
 
      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        Initial notification 
       /Amendment 
     --------------------------  --------------------------------------------- 
 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          Options to acquire common shares in Southern 
       financial instrument,       Energy Corp. 
       type of instrument 
 
      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        Initial notification 
       /Amendment 
     --------------------------  --------------------------------------------- 
 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          Options to acquire common shares in Southern 
       financial instrument,       Energy Corp. 
       type of instrument 
 
      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        Initial notification 
       /Amendment 
     --------------------------  --------------------------------------------- 
 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          Options to acquire common shares in Southern 
       financial instrument,       Energy Corp. 
       type of instrument 
 
      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        Initial notification 
       /Amendment 
     --------------------------  --------------------------------------------- 
 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          Options to acquire common shares in Southern 
       financial instrument,       Energy Corp. 
       type of instrument 
 
      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        Initial notification 
       /Amendment 
     --------------------------  --------------------------------------------- 
 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          Options to acquire common shares in Southern 
       financial instrument,       Energy Corp. 
       type of instrument 
 
      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        Initial notification 
       /Amendment 
     --------------------------  --------------------------------------------- 
 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          Options to acquire common shares in Southern 
       financial instrument,       Energy Corp. 
       type of instrument 
 
      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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END

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October 07, 2021 13:20 ET (17:20 GMT)

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