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Southern Energy ( (TSE:SOU) ) has issued an update.
Southern Energy Corp. announced the issuance of 2,143,000 new common shares to pay accrued interest on its 10% convertible unsecured subordinated debentures, a move that reflects its strategic financial management. Additionally, the company will voluntarily delist from the OTCQX while continuing to trade on the TSX Venture Exchange and AIM Market, providing flexibility and maintaining accessibility for various investors.
More about Southern Energy
Southern Energy Corp. is a natural gas exploration and production company primarily focused on acquiring and developing conventional natural gas and light oil resources in the southeast Gulf States of Mississippi, Louisiana, and East Texas. The management team has a history of creating shareholder value through acquisitions and optimization of existing fields using advanced drilling and completion techniques.
YTD Price Performance: -52.17%
Average Trading Volume: 24,243
Technical Sentiment Consensus Rating: Buy
Current Market Cap: $12.78M
For a thorough assessment of SOU stock, go to TipRanks’ Stock Analysis page.
