Southern Energy raises $5M in successful fundraising round

Southern Energy Corp (TSX-V:SOU, AIM:SOUC, OTC:MAXMD) successfully completed a conditional fundraising, raising US$5 million by placing 26,630,000 new common shares at 15.5 pence or C$0.26 per share. The funds will be used to complete up to four drilled and uncompleted wells in Gwinville, CEO Ian Atkinson noted. The offering consisted of Placing Shares, Prospectus Shares, and Subscription Shares. Stifel Nicolaus Europe Limited and Tennyson Securities acted as joint bookrunners, and Stifel Nicolaus Canada led the Prospectus Offering.