Brief: Journey Energy Announces Equity Financing And Term Debt Extension

Journey Energy

30/09/2019 22:02

Sept 30 (Reuters) - Journey Energy Inc  JOY.TO :
    * JOURNEY ENERGY INC. ANNOUNCES EQUITY FINANCING AND TERM
DEBT
EXTENSION
    * JOURNEY ENERGY INC - HAS ENTERED INTO A NON-BROKERED,
PRIVATE
PLACEMENT FOR $7.3 MILLION OF FLOW THROUGH COMMON SHARES
    * JOURNEY ENERGY - HAS RENEGOTIATED ITS TWO OUTSTANDING
TRANCHES
OF PROMISSORY NOTES THAT WERE PREVIOUSLY ISSUED TO ALBERTA
INVESTMENT MANAGEMENT CORP
    * JOURNEY ENERGY INC - BOTH SETS OF PROMISSORY NOTES WILL BE
COMPRISED OF TWO TRANCHES OF $22 MILLION EACH
    * JOURNEY ENERGY INC - FIRST TRANCHE WILL MATURE ON
SEPTEMBER 30,
2022 AND BEAR INTEREST AT 7.65% PER ANNUM
    * JOURNEY ENERGY INC - SECOND TRANCHE WAS EXTENDED THREE
YEARS
PAST ITS ORIGINAL EXPIRY AND WILL NOW MATURE ON OCTOBER 31,
2023.
    * JOURNEY ENERGY - PROCEEDS FROM ISSUANCE OF FLOW-THROUGH
SHARES
WILL BE USED TO INCUR ELIGIBLE CANADIAN DEVELOPMENT EXPENSES
PRIOR TO MARCH 31, 2020

Source text for Eikon:  ID:nCNWtBMDMa 
Further company coverage:  JOY.TO 

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