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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 it has entered into an agreement with a syndicate of underwriters, led by Stifel FirstEnergy (collectively, the "Underwriters"), pursuant to which the Underwriters have agreed to purchase, on a "bought deal" basis, 2,265,861 common shares (the "Flow-Through Shares") of Journey to be issued as "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") at a price (the "Offering Price") of $6.62 per Flow-Through Share, for total gross proceeds to the Company of approximately $15 million (the "Offering").