Southern Energy ( (TSE:SOU) ) just unveiled an announcement.
Southern Energy Corp. has announced amendments to its previously disclosed equity fundraising terms, intending to raise approximately US$6.0 million. The adjustments include a reduction in the unit price and an increase in the number of warrants per unit. The proceeds will be used to complete three drilled and uncompleted wells on its Gwinville acreage and fund the drilling of two additional wells on its Mechanicsburg site. The fundraising is crucial for Southern Energy to accelerate its drilling operations and enhance its market position, with implications for its financial stability and growth prospects.
More about Southern Energy
Southern Energy Corp. operates in the energy industry, focusing on the exploration and production of oil and natural gas. The company is primarily engaged in developing its assets in North America, with a particular emphasis on its Gwinville and Mechanicsburg acreages.
YTD Price Performance: -55.00%
Average Trading Volume: 29,297
Technical Sentiment Signal: Buy
Current Market Cap: $8.87M
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