Jericho Energy Ventures (TSXV:JEV) Announces Letter of Intent with Comstock Holding Companies (Nasdaq:CHCI) to Advance AI Data Center Campus Development Leveraging Its Energy Infrastructure; Comstock to Invest USD$1.5 Million in Private Placement

TULSA, OK / ACCESS Newswire / February 12, 2026 / Jericho Energy Ventures Inc. (TSXV:JEV)(OTCID:JROOF)(FRA:JLM) ("Jericho", "JEV" or the "Company"), an energy innovation company positioned at the nexus of energy and AI infrastructure, is pleased to announce that it has entered into a letter of intent (the "LOI"), dated February 11, 2026, with Comstock Holding Companies, Inc. (Nasdaq:CHCI) ("Comstock"), pursuant to which the parties have committed to establish a strategic partnership (the "Joint Venture" or "JV") focused on the acquisition and development of land in and around Jericho's existing energy assets in Oklahoma.

Comstock is a diversified real estate organization with a 40+ year history of investing in, developing, acquiring, owning and operating virtually all types of residential, commercial, and mixed-use real estate, while providing supply-chain and management services to institutional investors, lenders, owners and municipalities with interests in real estate.

As part of the proposed joint venture, Comstock has agreed to invest in Jericho through an initial non-brokered private placement (the "Financing") for gross proceeds of USD$1.5 million, subject to applicable regulatory approvals, including acceptance by the TSX Venture Exchange (the "Exchange").

The Financing will consist of 25,684,932 units priced at CAD$0.08 per unit (the "Units"). Each Unit will be comprised of one (1) variable voting share of the Company (each, a "Unit Share") and one-half (½) of one share purchase warrant (each, a "Warrant"). Each two (2) Warrants will entitle the holder to acquire one (1) variable voting share (each, a "Warrant Share") at an exercise price of CAD$0.20 per Warrant Share, exercisable for a period of 24 months from the date of issuance. In addition, the Company may, at its discretion and subject to investor demand, offer up to an additional 20,000,000 Units under the private placement on the same terms as Comstock's investment.

Comstock's Chief Executive Officer, Chris Clemente, is expected to join Jericho's board of directors following receipt of Exchange approval.

Net proceeds from the Financing will be used to accelerate development of Jericho's planned flagship AI data center campus and related energy-infrastructure in Oklahoma and for general working capital needs.

When consummated, the joint venture is expected to focus on assembling a portfolio of strategically located land that integrates Jericho's subsurface energy infrastructure assets with surface land interests, supporting the development of large-scale AI data center campuses and related digital infrastructure. Comstock is currently expected to contribute USD$6 million into the newly formed JV. In addition, it will have the opportunity, at its discretion, to either participate in a subsequent private placement financing to Jericho or cause an indirect capital contribution from the JV to be distributed to Jericho.