SURGE ENERGY INC. ANNOUNCES CLOSING OF $175 MILLION SENIOR UNSECURED NOTE OFFERING; REPAYMENT OF SECOND LIEN CREDIT FACILITY; INCREASE TO FIRST LIEN REVOLVING CREDIT FACILITY

/NOT FOR DISTRIBUTION IN THE UNITED STATES OR DISSEMINATION OVER UNITED STATES WIRE SERVICES/

CALGARY, AB, Sept. 5, 2024 /CNW/ - Surge Energy Inc. ("Surge" or the "Company") (TSX: SGY) is pleased to announce the closing (the "Closing") of its previously announced private placement offering (the "Offering") of $175 million aggregate principal amount of senior unsecured notes due 2029 (the "Notes"). The Notes bear interest at a rate of 8.500% per annum and mature on September 5, 2029. The Notes were priced at 100% of par to yield 8.500% per annum.