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     129  0 Kommentare Jericho Energy Ventures Closes $2.25 Million Private Placement Financing

    TULSA, OK and VANCOUVER, BC / ACCESSWIRE / March 22, 2023 / Jericho Energy Ventures Inc. (TSXV:JEV)(OTC:JROOF)(FRA:JLM) ("Jericho", "JEV" or the "Company") is pleased to announce, further to its news release dated March 7, 2023, that it has closed a …

    TULSA, OK and VANCOUVER, BC / ACCESSWIRE / March 22, 2023 / Jericho Energy Ventures Inc. (TSXV:JEV)(OTC:JROOF)(FRA:JLM) ("Jericho", "JEV" or the "Company") is pleased to announce, further to its news release dated March 7, 2023, that it has closed a non-brokered private placement (the "Financing") of 8,662,745 units (the "Units") at CAD$0.26 per unit for gross proceeds of $2,252,313.70. Each unit consists of one common share ("Share") and one warrant, with each warrant entitling the holder to purchase one share at a price of $0.50 for a period of two years from closing. The Financing was led by insiders and existing shareholders of the Company.

    The Financing has received conditional approval from the TSX Venture Exchange (the "Exchange") and is subject to final Exchange approval. All securities issued under the Financing are subject to a four month hold period expiring on July 23, 2023, under applicable securities laws in Canada and the rules of the Exchange.

    Net proceeds from the Financing will be used for general working capital purposes, for advancing its wholly owned subsidiary, Hydrogen Technologies as well as the continued development of its cash-flowing oil and gas JV portfolio into the currently elevated commodity price environment.

    Insiders of Jericho purchased 2,064,769 Units in the Financing (the "Insider Participation"). The Insider Participation is exempt from the valuation and minority shareholder approval requirements of Multilateral Instrument 61-101 Protection of Minority Securityholders in Special Transactions ("MI 61-101") by virtue of the exemptions contained in Sections 5.5(a) and 5.7(1)(a) of MI 61-101 based on that the fair market value of such Insider Participation does not exceed 25% of Jericho's market capitalization.

    In connection with the Financing, the Company paid finder's fees in cash, totaling $14,842.10 and issued broker warrants totaling 57,085 warrants, with each broker warrant entitling the holder to acquire one common share for a period of two years from closing at a price of $0.50.

    The securities referred to herein will not be or have not been registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements.

    About Jericho Energy Ventures

    Jericho Energy Ventures (JEV) is an energy company positioned for the current energy transitions; owning, operating and developing both traditional hydrocarbon joint venture assets and advancing the low-carbon energy transition, with active investments in hydrogen. Our wholly owned subsidiary, Hydrogen Technologies, delivers breakthrough, patented, zero-emission boiler technology to the Commercial & Industrial heat and steam industry. We also hold strategic investments and board positions in H2U Technologies (a breakthrough electrocatalyst and low-cost electrolyzer platform) and Supercritical Solutions (developing the world's first, high pressure, ultra-efficient electrolyzer). Jericho also owns and operates long-held producing oil and gas joint venture assets in Oklahoma which it is currently developing from cash flows in an effort to further increase production into the current elevated commodity price environment.

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    Jericho Energy Ventures Closes $2.25 Million Private Placement Financing TULSA, OK and VANCOUVER, BC / ACCESSWIRE / March 22, 2023 / Jericho Energy Ventures Inc. (TSXV:JEV)(OTC:JROOF)(FRA:JLM) ("Jericho", "JEV" or the "Company") is pleased to announce, further to its news release dated March 7, 2023, that it has closed a …