Journey Energy completes bought deal public offering of flow-through common shares
Torys acted as counsel to Acumen with a team that includes Scott Cochlan, Janan Paskaran, Michael Pedlow, Jennifer Baugh and Jon McDonald (corporate/Canadian securities), Craig Maurice and Steve Marshall (tax).
On March 18, 2022, Journey Energy Inc. (“Journey”) closed its bought deal flow-through share financing from Acumen Capital Finance Partners Limited (“Acumen”). The full 15% over-allotment was exercised bringing the total equity issuance to 2,852,000 flow-through common shares at a price of C$4.25 per share for total gross proceeds of C$12,121,000. Acumen acted as the sole underwriter for the offering.
Journey will use proceeds from the offering to incur eligible "Canadian development expenditures" within the meaning of the Income Tax Act (Canada).
Further information can be found on Canada Newswire’s website.
Journey is a Canadian exploration and production company focused on conventional, oil-weighted operations in western Canada.