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CALGARY, AB, March 1, 2023 /CNW/ - Journey Energy Inc. (TSX: JOY) (OTCQX: JRNGF) ("Journey" or the "Company") is pleased to announce that, as a result of excess demand, it has agreed with the  syndicate of underwriters, led by Stifel FirstEnergy (collectively, the "Underwriters"), to increase the size of its previously announced "bought deal" public offering of "flow-through shares" with respect to "Canadian development expenses" within the meaning of the Income Tax Act (Canada) and the regulations thereunder in force as of the date hereof (the "Tax Act"). Journey will now issue 2,643,505 common shares (the "Flow-Through Shares") at a price (the "Offering Price") of $6.62 per Flow-Through Share, for total gross proceeds to the Company of approximately $17.5 million (the "Offering").