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Journey Energy Inc JRNGF


Primary Symbol: T.JOY

Energy Oil & Gas E&P
Journey Energy Inc. is a Canada-based exploration and production company focused on conventional, oil-weighted operations in western Canada. The Company is engaged in the exploration, development, and production of crude oil and natural gas in the province of Alberta, Canada. Its strategy is to grow its production base by drilling on its existing core lands, implementing water flood projects, executing on accretive acquisitions. The Company seeks to optimize its oil pools on existing lands through the application of practices in horizontal drilling and, where feasible, with water floods. It offers horizontal, multi-frac drilling and secondary recovery methods. Its areas of operation are along a resource, Fairway, which consists of the Central Alberta and South Alberta. Its Central Alberta includes Gilby-Duvernay, Crystal, Cherhil, Kaybob, Ferrier, and Ante Creek Waterflood. Its South Alberta includes Matziwin, Skiff, Herronto, and Medicine Hat EOR.


TSX:JOY - Post by User

Journey Energy Inc > $10.5 Million "Bought Deal" Public Offering of Flow-Through
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Post by Betteryear2on Feb 28, 2022 4:05pm
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Post# 34468924

$10.5 Million "Bought Deal" Public Offering of Flow-Through

$10.5 Million "Bought Deal" Public Offering of Flow-Through CALGARY, AB, Feb. 28, 2022 /CNW/ - Journey Energy Inc. (TSX: JOY) ("Journey" or the "Company") announces that it has entered into an agreement with Acumen Capital Finance Partners Limited ("Acumen"), pursuant to which Acumen has agreed to purchase, on a "bought deal" basis, 2,480,000 common shares (the "Flow-Through Shares") of Journey to be issued as "flow-through shares" with respect to "Canadian development expenses" within the meaning of the Income Tax Act (Canada) and the regulations thereunder in force as of the date hereof (the "Tax Act") at a price (the "Offering Price") of $4.25 per Flow-Through Share, for gross proceeds to the Company of approximately $10.5 million (the "Offering").
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