Jericho Energy Welcomes Comstock Holding Companies CEO Chris Clemente to Board of Directors

Executive Summary

• Christopher Clemente, Chairman and CEO of Comstock Holding Companies, was appointed to Jericho Energy Ventures’ Board of Directors.
• Comstock recently invested US$1.5 million in a private placement, becoming a significant shareholder of Jericho.
• The companies have signed a Letter of Intent to form a joint venture focused on acquiring, aggregating and developing land around Jericho’s Oklahoma energy assets, leveraging both parties’ expertise.

Key Details

• Board Appointment: Christopher Clemente joins the Board effective March 2, 2026; brings public‑company leadership, capital markets experience, and real‑estate development expertise.
• Private Placement Investment: Comstock invested US$1.5 million in Jericho via a private placement, aligning long‑term strategic interests.
• Letter of Intent (Feb 11, 2026): Jericho and Comstock agreed to pursue a joint venture (“JV”) targeting land acquisition, aggregation, and development surrounding Jericho’s existing energy infrastructure in Oklahoma.
• Strategic Rationale: The JV will combine Jericho’s energy‑infrastructure footprint with Comstock’s real‑estate development capabilities to advance high‑value infrastructure and energy‑related projects, including AI data center build‑to‑suit solutions.
• Comments – CEO Jericho (Brian Williamson): Highlighted Clemente’s “rare combination of public company leadership…deep experience in large‑scale real estate and infrastructure development” as valuable for advancing AI‑driven energy initiatives.
• Comments – CEO Comstock (Christopher Clemente): Stated the partnership will help unlock long‑term value for shareholders by leveraging both companies’ strengths at the intersection of domestic energy development and next‑generation data infrastructure.

Notable Quotes

“Chris brings a rare combination of public company leadership, capital markets expertise, and deep experience in large‑scale real estate and infrastructure development…an outstanding addition to our Board as we advance our AI‑driven energy and infrastructure initiatives.” – Brian Williamson, CEO, Jericho Energy Ventures

“Jericho Energy is strategically positioned at the intersection of domestic energy development and next‑generation data infrastructure. I look forward to working closely with Brian and the Board to support the Company's AI land growth strategy and help unlock long‑term value for shareholders.” – Christopher Clemente, CEO, Comstock

Materiality Assessment: Material – Positive (significant board appointment coupled with a strategic partnership and capital investment that could materially affect future operations and shareholder value).