The Toronto Stock Exchange reports that Surge Energy Inc.'s 6.75 per cent Series 2 convertible unsecured subordinated debentures will be halted at the open and delisted at the close on Nov. 20, 2023. According to the TSX, the company will redeem the debentures on Nov. 18, 2023, for $1,026.08 per $1,000 principal amount, representing $1,000 principal amount $26.08 for accrued and unpaid interest thereon to, but excluding, the redemption date.

The TSX notes that the debentures trade in the book-based system of CDS Clearing and Depository Services Inc. and, accordingly, holders need not take any action in order to receive the redemption proceeds. The TSX also reports that the holders of the debentures may convert their debentures into common shares of the company at any time before 5 p.m. Calgary time on Nov. 17, 2023, at $19.125 per share. This conversion price represents a conversion rate of approximately 52.2876 shares per $1,000 principal amount of debentures.

According to the TSX, trades in the debentures on Nov. 16, 2023, and Nov. 17, 2023, will settle on Nov. 17, 2023. The debentures will be called for redemption on Saturday, Nov. 18, 2023. As the redemption date is not a business day, the debentures will be delisted at the close of business on the business day following the redemption date. For more information, see the company's news release dated Oct. 19, 2023.