Journey Energy (OTC) (TSE:JOY) has released an update.
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Journey Energy Inc. successfully completed a $38 million private placement of convertible debentures, with each debenture being convertible into common shares at $5.00 per share over the next five years. The company plans to use the proceeds to pay off debt, invest in its 2024 capital development program, and for general corporate purposes. An updated 2024 financial guidance from Journey is anticipated by March 28, 2024, following the impact of this new financing.
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