Journey Energy Inc. (TSX:JOY) announced a private placement of 22,000 units at a price of CAD 1,000 per unit for gross proceeds of CAD 22,000,000 on January 22, 2018. Each unit is comprised of one promissory with a par value of CAD 1,000 per note which will bear interest at 7.65% per annum, payable semi-annually and 105 common share purchase warrants. The notes mature on September 30, 2022. The warrants will be exercisable for 28 months after closing of the transaction.