Surge Energy Inc (41Z0.BE)

Surge Energy Inc. Announces $42 Million Convertible Debenture Bought Deal Financing and Intention to Redeem Existing Convertible Debentures Due June 30, 2024

CALGARY, Alberta, Sept. 28, 2023 (GLOBE NEWSWIRE) -- Surge Energy Inc. (“Surge” or the “Company”) (TSX: SGY) is pleased to announce a public offering (the “Offering”) on a “bought deal” basis, of $42 million principal amount of convertible unsecured subordinated debentures, at a price of $1,000 per debenture, with an interest rate of 8.50% per annum, payable semi-annually in arrears on the last day of June and December commencing on June 30, 2024 (the “Debentures”). The Debentures will mature on