Jericho Energy Ventures (TSXV: JEV) Closes USD$1.5 Million Strategic Investment from Comstock Holding Companies (Nasdaq: CHCI)

Executive Summary

• Jericho Energy Ventures completed a non‑brokered private placement raising USD $1.5 M (CAD $2.055 M) from Comstock Holding Companies.
• The financing issued 25,684,932 units at CAD $0.08 each, each unit consisting of one variable voting share and half a warrant (full warrant exercisable at $0.20 per share for 24 months).
• Jericho and Comstock will form a strategic joint venture to acquire and develop land around Jericho’s Oklahoma energy assets for large‑scale AI data center campuses; Comstock is expected to contribute USD $6 M to the JV.

Key Details

• Financing Structure: 25,684,932 units @ CAD $0.08 per unit → gross proceeds USD $1.5 M (≈CAD $2.055 M).
• Unit Composition: 1 variable voting share + ½ share purchase warrant; two warrants = right to acquire one share at $0.20 per share.
• Warrant Terms: Exercise price $0.20 per share; exercisable for 24 months from issuance.
• Holding Period: Securities subject to a four‑month and one‑day hold period, expiring June 21 2026 under Canadian securities law and TSX Venture Exchange rules.
• Use of Proceeds: Accelerate development of Jericho’s flagship AI data center campus and related energy infrastructure in Oklahoma; general working capital.
• Board Appointment: Comstock CEO Chris Clemente expected to join Jericho’s board pending final exchange approval.
• Joint Venture (JV): Pursuant to a Feb 11 2026 LOI, Jericho and Comstock will create a JV to acquire/develop land integrating Jericho’s subsurface energy assets with surface interests for AI data center campuses.
• Comstock Contribution: Expected USD $6 M capital contribution to the JV; optional participation in future private placements or indirect capital distributions to Jericho.
• Regulatory Conditions: JV and related transactions subject to customary conditions; no guarantee of consummation.
• No Finder/Broker Fees: Financing conducted without finders’ fees or broker commissions.

Notable Quotes

(None provided in the release)