Journey Energy Inc. Launches $38M Private Placement
Company Announcements

Journey Energy Inc. Launches $38M Private Placement

Journey Energy (OTC) (TSE:JOY) has released an update.

Journey Energy Inc. has announced a $38 million private placement offering via a ‘bought deal’ with Echelon Wealth Partners Inc., involving the sale of senior unsecured convertible debentures. These financial instruments are convertible into common shares at $5.00 each and come with a 10.25% interest rate, with proceeds aimed at reducing debt, funding the 2024 capital program, and for general corporate purposes. The offering, which excludes Quebec but includes certain international investors, is anticipated to close on March 20, 2024, subject to regulatory approvals.

For further insights into TSE:JOY stock, check out TipRanks’ Stock Analysis page.

Related Articles
TipRanks Canadian Auto-Generated NewsdeskJourney Energy Announces Debt Rescheduling and Operations Update
TipRanks Canadian Auto-Generated NewsdeskJourney Energy Launches Share Buyback Initiative
TipRanks Canadian Auto-Generated NewsdeskJourney Energy Reports Q2 Financial Downturn
Looking for investment ideas? Subscribe to our Smart Investor newsletter for weekly expert stock picks!
Get real-time notifications on news & analysis, curated for your stock watchlist. Download the TipRanks app today! Get the App