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Journey Energy closed bought deal public offering of flow-through common shares

Date Closed

March 23, 2023

Lead Office



20.00 Million CAD

On March 23, 2023, Journey Energy Inc. (the "Journey") closed the bought deal flow-through share financing that was previously announced on March 1, 2023. The full 15% over-allotment was exercised bringing the total equity issuance to 3,040,031 flow-through common shares at a price of $6.62 per share for total gross proceeds of $C20,125,005. The financing was successfully concluded by Journey's syndicate of underwriters, which included StifelFirst Energy, as lead underwriter and sole book-runner, and also included Cormark Securities Inc., Acumen Capital Finance Partners Limited, Eight Capital and Peters & Co. Limited.

Journey is a Canadian exploration and production company focused on conventional, oil-weighted operations in western Canada. Journey's strategy is to grow its production base by drilling on its existing core lands, implementing water flood projects, and executing on accretive acquisitions.

McCarthy Tétrault assisted Journey with a team led by Brad Squibb that included Niki Gill, Karsten Carriere (Capital Markets), Brett Anderson, Mike Hegedus and Taylor Page (Tax).