Southern Energy Corp. Announces Stock Option Grant

- October 7th, 2021

Southern Energy Corp. 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 accepts responsibility for the …

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)

+1 (0) 587 287 5401

+1 (0) 587 287 5402

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

+44 (0) 20 7409 3494

+44 (0) 20 7907 8500

+44 (0) 20 7523 8000

Camarco

James Crothers, Billy Clegg, Daniel Sherwen

+44 (0) 20 3757 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 /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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SOURCE: Southern Energy Corp.

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https://www.accesswire.com/667269/Southern-Energy-Corp-Announces-Stock-Option-Grant

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