RE:Financing blunder of the decade Example of how it's done...
November 1, 2023 / Southern Energy Corp. (TSXV:SOU)(AIM:SOUC)(OTCQX:SOUTF) is pleased to announce its intention to conduct an equity fundraise to raise aggregate gross proceeds of at least US$5 million (approximately £4.1 million / C$6.9 million), at a price of 15.5 pence (the "Placing Price") or C$0.26 per Common Share (the "Prospectus Price"). The fundraising consists of a placing of new Common Shares to new and existing institutional investors (the "Placing"), a concurrent public offering of new Common Shares in Canada (the "Prospectus Offering"), and a Subscription by certain Directors and members of the Company's senior management (together with the Placing and Prospectus Offering, the "Fundraising"). The Fundraising will launch immediately following the release of this Announcement. Stifel Nicolaus Europe Limited ("Stifel Europe") and Tennyson Securities, a trading name of Shard Capital Partners LLP ("Tennyson Securities") are acting as joint bookrunners (the "Joint Bookrunners") in connection with the Placing. Stifel Nicolaus Canada Inc. ("Stifel Canada") is acting as lead agent and sole bookrunner in connection with the Prospectus Offering.