Journey Energy Inc T.JOY

Alternate Symbol(s): JRNGF

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. The Company is engaged in pursuing growth through drilling on existing core lands in Alberta, implementing water flood projects, completing accretive acquisitions, and growing its overall production and reserves base. 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. 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.

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Journey Energy Inc > $38 MILLION "BOUGHT DEAL" PRIVATE PLACEMENT OFFERING

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Post by Betteryear2on Mar 05, 2024 8:18pm

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Post# 35917014

$38 MILLION "BOUGHT DEAL" PRIVATE PLACEMENT OFFERING

/NOT FOR DISTRIBUTION TO THE U.S. NEWSWIRE OR FOR DISSEMINATION IN THE UNITED STATES/

CALGARY, AB, March 5, 2024 /CNW/ - Journey Energy Inc. (TSX: JOY) (the "Company" or "Journey") is pleased to announce that it has entered into an agreement with Echelon Wealth Partners Inc. (the "Underwriter") pursuant to which the Underwriter has agreed to purchase, on a bought deal, private placement basis, 38,000 senior unsecured convertible debentures of the Company (the "Convertible Debentures", each a "Convertible Debenture") at a price of $1,000 per Convertible Debenture for total gross proceeds of $38,000,000 (the "Offering"). The Offering is to be led by a group of strategic U.S. institutional investors.

JOURNEY ENERGY INC. ANNOUNCES $38 MILLION "BOUGHT DEAL" PRIVATE PLACEMENT OFFERING (newswire.ca)