Journey Energy Inc. (TSX:JOY) announces a share repurchase program. Under the program, the company will repurchase 12,700,000 shares, representing 24.8% of its outstanding common shares at a price of CAD1.68 per share for CAD21.3 million from MIE Maple Investments Limited. The price per share represents a 5% discount to the 20 day volume weighted average price of company’s shares immediately preceding January 22, 2018. The purpose of the buyback is to increase shareholders’ value. The buyback will be will be financed with a concurrent financing from Alberta Investment Management Corporation for term debt of $22.0 million. The repurchased shares will be canceled. The program is subject to approval from Toronto Stock Exchange (TSX). The plan will be valid till February 2, 2018.