Stock Option Grant
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Calgary, Alberta - July 17, 2024 - Southern Energy Corp. ("Southern" or the "Company") (TSXV:SOU) (AIM:SOUC) (OTCQX:SOUTF) announces that pursuant to the Company's Stock Option Plan, an aggregate of 3,102,500 stock options ("Options") to purchase common shares of the Company ("Common Shares") were granted as part of Southern's overall compensation and employee retention program.
The Options expire in five years from the date of the grant and are exercisable at a price of CAD$0.175 per Common Share, being the closing market price on the TSXV on the day prior to this announcement. The Options vest as to one third on the grant date and one third on each of the first and second anniversaries of the grant date.
In aggregate, 1,642,000 of the Options were issued to directors and persons discharging managerial responsibilities ("PDMR") of the Company, as set out below:
| PDMR | Position | Options Awarded |
|---|---|---|
| Ian Atkinson | President and CEO (Director) | 417,000 |
| Calvin Yau | CFO | 350,000 |
| Gary McMurren | COO | 350,000 |
| Bruce Beynon | Non-Executive Director | 105,000 |
| Tamara MacDonald | Non-Executive Director | 105,000 |
| Joseph Nally | Non-Executive Director | 105,000 |
| Neil Smith | Non-Executive Director | 105,000 |
| Steven Smith | Non-Executive Director | 105,000 |
Southern Energy Corp.
| Ian Atkinson (President and CEO) | +1 587 287 5401 |
| Calvin Yau (CFO) | +1 587 287 5402 |
| Strand Hanson Limited - Nominated & Financial Adviser | +44 (0) 20 7409 3494 |
| James Spinney / James Bellman / Rob Patrick | |
| Stifel Nicolaus Europe Limited - Joint Broker | +44 (0) 20 7710 7600 |
| Callum Stewart / Ashton Clanfield | |
| Tennyson Securities - Joint Broker | +44 (0) 20 7186 9033 |
| Peter Krens / Pav Sanghera | |
| Camarco | +44 (0) 20 3757 4980 |
Owen Roberts / Billy Clegg / Hugo Liddy
About Southern Energy Corp.
PDMR NOTIFICATION FORMS
| 1 | Details of the person discharging managerial responsibilities / person closely associated | |
| a) | Name | 1. Ian Atkinson 2. Calvin Yau 3. Gary McMurren 4. Bruce Beynon 5. Tamara MacDonald 6. Joseph Nally 7. Neil Smith 8. Steven Smith |
| 2 | Reason for the notification | |
| a) | Position/status | 1. President and CEO (Director) 2. CFO 3. COO 4. Non-Executive Director 5. Non-Executive Director 6. Non-Executive Director 7. Non-Executive Director 8. Non-Executive Director |
| b) | Initial notification/Amendment | Initial notification |
| a) | Name | Southern Energy Corp. |
| b) | LEI | 213800R25GL7J3EBJ698 |
| a) | Description of the financial instrument, type of instrument | Options to acquire common shares in Southern Energy Corp. |
| Identification code | CA8428131059 | |
| b) | Nature of the transaction | Grant of share options |
| c) | Price(s) and volume(s) | Exercisable price Volumes 1. CAD$0.175 417,000 2. CAD$0.175 350,000 3. CAD$0.175 350,000 4. CAD$0.175 105,000 5. CAD$0.175 105,000 6. CAD$0.175 105,000 7. CAD$0.175 105,000 8. CAD$0.175 105,000 |
| d) | Aggregated information | N/A |
| e) | Date of the transaction | 17 July 2024 |
| f) | Place of the transaction | Outside of a trading venue |
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