Brief: Journey Energy Inc. Announces Private Company Acquisition And Amendments To Term Debt

Journey Energy

24/06/2021 16:42

June 24 (Reuters) - Journey Energy Inc  JOY.TO :
    * JOURNEY ENERGY INC. ANNOUNCES PRIVATE COMPANY ACQUISITION
AND
AMENDMENTS TO TERM DEBT
    * JOURNEY ENERGY INC - ACQUISITION PRICE WILL BE PAID FOR
THROUGH
ISSUANCE OF 3.5 MILLION JOURNEY SHARES PLUS $2.9 MILLION OF CASH
    * JOURNEY ENERGY INC - EXECUTED AN AMENDMENT TO ITS CREDIT
AGREEMENT WITH ALBERTA INVESTMENT MANAGEMENT CORPORATION
("AIMCO") TO FACILITATE ACQUISITION
    * JOURNEY ENERGY INC - AIMCO HAS CONSENTED TO ACQUISITION,
ALSO
AGREED TO EXTEND MATURITY DATE OF $15 MILLION TRANCHE OF TERM
DEBT TO DECEMBER 31, 2021
    * JOURNEY ENERGY INC NOW SEES ADJUSTED FUNDS FLOW PER BASIC
WEIGHTED AVERAGE SHARE $0.71 - $0.74 FOR 2021
    * JOURNEY ENERGY INC NOW SEES ANNUAL AVERAGE SALES VOLUMES
7,600-7,900 BOE/D (45% CRUDE OIL AND NGL) FOR 2021

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

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