CALGARY, AB , Feb. 16, 2021 /CNW/ - Journey Energy Inc. (TSX: JOY) (OTCQX: JRNGF) (" Journey " or the " Company ") reports that it has today agreed to a further extension to the closing date for the previously announced disposition (see press release dated October 30, 2020 ) of its Countess area assets. In conjunction with this extension, Journey has also executed an amendment to its credit agreement with Alberta Investment Management Corporation to extend the maturity date of the $15 million tranche of term debt, to coincide with the revised closing date of the Countess asset sale. The proceeds from the sale of this asset will be used to retire the $15 million term debt with any excess proceeds being used for working capital purposes.
Journey Energy Inc.
700, 517 – 10 th Avenue SW
Calgary, AB T2R 0A8
403-294-1635
www.journeyenergy.ca
No securities regulatory authority has either approved or disapproved of the contents of this press release.
SOURCE Journey Energy Inc.
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