Southern Energy Secures Approval for Convertible Debentures Amendment

Southern Energy Corp. has received approval from debenture holders for amendments to its convertible debentures. This amendment involves a change to the debenture indenture with Computershare Trust Company of Canada. Subject to a new equity fundraising completion, the debentures will convert into company units at 102.5% of the principal amount. These units will adhere to lock-up provisions.

The company, headquartered in Calgary, aims to finalize this adjustment with the Trustee through a third supplemental indenture. Currently, Southern Energy has 4,286 debentures outstanding, each valued at C$1,000. The planned amendment needs approval from the TSX Venture Exchange.

Additionally, a revised schedule for the fundraising was announced. The company will adhere to the updated timeline while maintaining other fundraising terms. The completion of these financial strategies remains crucial for Southern Energy's future operations.