Journey Energy Inc. Announces Renewal of Its Normal Course Issuer Bid
Rhea-AI Summary
Journey Energy (OTCQX:JRNGF) has received TSX approval to renew its normal course issuer bid program. The company can purchase up to 3.4 million common shares, representing approximately 7.5% of the public float. The buyback program will run from August 26, 2025 to August 25, 2026.
The daily purchase limit is set at 20,971 shares, representing 25% of the average daily trading volume. Journey currently has 67.1 million shares outstanding, with a public float of 45.4 million shares. Notably, the company made no purchases under its previous buyback program, which expires on August 25, 2025.
Positive
- None.
Negative
- No shares were repurchased under the previous buyback program, indicating potential execution uncertainty
- Share repurchases will reduce cash available for operations or growth initiatives
News Market Reaction – JRNGF
In the Aug 22 session, JRNGF gained 4.35%, reflecting a moderate positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
AI-generated analysis. How Rhea-AI works. Not financial advice.
Calgary, Alberta--(Newsfile Corp. - August 22, 2025) - Journey Energy Inc. (TSX: JOY) (OTCQX: JRNGF) ("Journey", or the "Company") announces today that it has received approval from the Toronto Stock Exchange (the "TSX") to undertake a renewal of its normal course issuer bid (the "Bid") to purchase up to 3,400,000 common shares, representing approximately
As of August 15, 2024 Journey has 67,106,601 common shares issued and outstanding, of which 45,438,988 represents the public float. Under the rules of the TSX and subject to certain exemptions for block purchases, the maximum number of common shares that Journey may purchase on any one trading day is 20,971 common shares, representing
The current Bid will expire on August 25, 2025. Under the current Bid Journey was approved by the TSX for a purchase of 4,666,445 common shares. No purchases were made under the existing Bid.
The Board of Directors of Journey believes that, from time to time, Journey's share price does not adequately reflect the value of such shares in relation to the business, assets and future prospects of the Company. Repurchasing common shares can protect and enhance shareholder value and as such, represents a desirable use of available funds.
About the Company
Journey is a Canadian exploration and production company focused on conventional, oil-weighted operations in western Canada. Journey seeks to optimize its legacy oil pools on existing lands through the application of best practices in horizontal drilling and, where feasible, with water floods.
For further information:
Investors:
Alex G. Verge
President and Chief Executive Officer
403-294-1635
alex.verge@journeyenergy.ca
Gerry Gilewicz
Chief Financial Officer
403-303-3238
gerry.gilewicz@journeyenergy.ca
Advisories
Information in this press release that is not current or historical factual information may constitute forward-looking information within the meaning of securities laws, which involves substantial known and unknown risks and uncertainties, most of which are beyond the control of Journey, including, without limitation, those listed under "Risk Factors" and "Forward Looking Statements" in the Annual Information Form of Journey dated March 31, 2025. Forward-looking information may relate to our future outlook and anticipated events or results and may include statements regarding the business strategy and plans and objectives. Particularly, forward-looking information in this press release includes, but is not limited to, statements and information concerning potential future purchases by Journey of its common shares pursuant to the Bid. Journey cautions investors in Journey's securities about important factors that could cause Journey's actual results to differ materially from those projected in any forward-looking statements included in this press release. Forward-looking information contained in this press release is based on our current estimates, expectations and projections, which we believe are reasonable as of the current date. No assurance can be given that the expectations set out herein will prove to be correct and accordingly, you should not place undue importance on forward-looking information and should not rely upon this information as of any other date. While we may elect to, we are under no obligation and do not undertake to update this information at any particular time except as required by applicable securities law.
No securities regulatory authority has either approved or disapproved of the contents of this press release.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/263487