Jericho Energy Announces Amendments to Convertible Debentures and Warrants
Jericho Energy Ventures Inc. (TSXV:JEV, OTC PINK:JROOF) has announced amendments to its outstanding convertible debentures and warrants. The key changes include:
1. The conversion price of debentures totaling CDN$5,703,568 has been reduced from CDN$0.70 to CDN$0.20.
2. The maturity date of these debentures has been extended by one year to January 7, 2026.
3. The exercise price of 6,839,920 warrants has been amended to CDN$0.25.
These amendments are subject to final TSXV approval and include insider participation exempt from certain regulatory requirements.
Jericho Energy Ventures Inc. (TSXV:JEV, OTC PINK:JROOF) ha annunciato modifiche ai suoi obbligazioni convertibili e ai warrant in circolazione. Le modifiche principali includono:
1. Il prezzo di conversione delle obbligazioni per un totale di CDN$5,703,568 è stato ridotto da CDN$0.70 a CDN$0.20.
2. La data di scadenza di queste obbligazioni è stata estesa di un anno fino al 7 gennaio 2026.
3. Il prezzo di esercizio di 6,839,920 warrant è stato modificato in CDN$0.25.
Queste modifiche sono soggette all'approvazione finale del TSXV e includono la partecipazione di insider esentati da alcuni requisiti normativi.
Jericho Energy Ventures Inc. (TSXV:JEV, OTC PINK:JROOF) ha anunciado enmiendas a sus obligaciones convertibles y warrants pendientes. Los cambios clave incluyen:
1. El precio de conversión de las obligaciones por un total de CDN$5,703,568 se ha reducido de CDN$0.70 a CDN$0.20.
2. La fecha de vencimiento de estas obligaciones se ha extendido por un año hasta el 7 de enero de 2026.
3. El precio de ejercicio de 6,839,920 warrants se ha modificado a CDN$0.25.
Estas enmiendas están sujetas a la aprobación final del TSXV e incluyen participación de insiders exenta de ciertos requisitos regulatorios.
Jericho Energy Ventures Inc. (TSXV:JEV, OTC PINK:JROOF)는 유통되고 있는 전환사채 및 워런트의 수정을 발표했습니다. 주요 변경 사항은 다음과 같습니다:
1. 총 CDN$5,703,568의 전환사채의 전환 가격이 CDN$0.70에서 CDN$0.20로 인하되었습니다.
2. 이러한 전환사채의 만기일이 1년 연장되어 2026년 1월 7일로 설정되었습니다.
3. 6,839,920개의 워런트의 행사가격이 CDN$0.25로 수정되었습니다.
이러한 수정 사항은 최종 TSXV 승인을 조건으로 하며, 특정 규제 요건에서 면제된 내부자 참여를 포함합니다.
Jericho Energy Ventures Inc. (TSXV:JEV, OTC PINK:JROOF) a annoncé des modifications à ses obligations convertibles et warrants en circulation. Les principaux changements incluent :
1. Le prix de conversion des obligations totalisant CDN$5,703,568 a été réduit de CDN$0.70 à CDN$0.20.
2. La date d'échéance de ces obligations a été prolongée d'un an jusqu'au 7 janvier 2026.
3. Le prix d'exercice de 6,839,920 warrants a été modifié à CDN$0.25.
Ces modifications sont soumises à l'approbation finale de la TSXV et incluent la participation d'insiders exemptée de certaines exigences réglementaires.
Jericho Energy Ventures Inc. (TSXV:JEV, OTC PINK:JROOF) hat Änderungen an seinen ausstehenden wandelbaren Anleihen und Warrants bekannt gegeben. Die wichtigsten Änderungen umfassen:
1. Der Umwandlungspreis der Anleihen in Höhe von insgesamt CDN$5,703,568 wurde von CDN$0.70 auf CDN$0.20 gesenkt.
2. Das Fälligkeitsdatum dieser Anleihen wurde um ein Jahr verlängert auf den 7. Januar 2026.
3. Der Ausübungspreis von 6,839,920 Warrants wurde auf CDN$0.25 geändert.
Diese Änderungen unterliegen der endgültigen Genehmigung durch die TSXV und schließen Insiderbeteiligungen ein, die von bestimmten regulatorischen Anforderungen befreit sind.
- Reduced conversion price of debentures from CDN$0.70 to CDN$0.20, potentially making conversion more attractive
- Extended maturity date of debentures by one year, providing more time for potential conversion
- Lowered exercise price of warrants to CDN$0.25, potentially increasing their attractiveness
- Amendments may lead to potential dilution of existing shareholders' equity if debentures are converted or warrants exercised at the new lower prices
TULSA, OK AND VANCOUVER, BC / ACCESSWIRE / July 31, 2024 / Jericho Energy Ventures Inc. ("Jericho" or the "Company") (TSXV:JEV)(FRA:JLM)(OTC PINK:JROOF) announces that further to its news release dated April 5, 2024 and receipt of conditional TSX Venture Exchange ("TSXV") approval, the Company has amended the conversion price of outstanding convertible debentures in the aggregate principal amount of CDN
The conversion price of the Debentures has been amended from CDN
The Insider Participation in the amendments to the Debentures and Warrants 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
The above amendments to the Debentures and Warrants are subject to final TSXV approval.
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 JV 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 JV assets in Oklahoma which it is currently developing from cash flows in an effort to further increase production.
Website: https://jerichoenergyventures.com/
X: https://x.com/JerichoEV
LinkedIn: https://www.linkedin.com/company/jericho-energy-ventures
YouTube: https://www.youtube.com/c/JerichoEnergyVentures
CONTACT:
Allen Wilson, Director, or
Adam Rabiner, Investor Relations
Jericho Energy Ventures Inc.
Tel. 604.343.4534
investorrelations@jerichoenergyventures.com
This news release contains certain "forward-looking information" and "forward-looking statements" (collectively, "forward-looking statements") within the meaning of applicable securities laws. Such forward- looking statements are not representative of historical facts or information or current condition, but instead represent only Jericho's beliefs regarding future events, plans or objectives, many of which, by their nature, are inherently uncertain and outside of Jericho's control. Forward-looking statements are frequently characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate" and other similar words, or statements that certain events or conditions "may", "will" or "may not" occur. Specifically, this news release contains forward-looking statements relating to, among others, TSX Venture Exchange approval of the amendments of the terms of debentures and warrants and shares for interest debt settlement.
Forward-looking statements are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those anticipated in the forward-looking statements, which include, but are not limited to: regulatory changes; changes to the definition of, or interpretation of, foreign private issuer status; the impacts of COVID-19 and other infectious diseases; general economic conditions; industry conditions; current and future commodity prices and price volatility; significant and ongoing stock market volatility; currency and interest rate fluctuation; governmental regulation of the energy industry, including environmental regulation; geological, technical and drilling problems; unanticipated operating events; the availability of capital on acceptable terms; the need to obtain required approvals from regulatory authorities; liabilities and risks inherent in oil and gas exploration, development and production operations; liabilities and risks inherent in early stage hydrogen technology projects, energy storage, carbon capture and new energy systems; changes in government environmental objectives or plans; and the other factors described in Jericho's public filings available at www.sedarplus.ca.
The forward-looking statements contained herein are based on certain key expectations and assumptions of Jericho concerning anticipated financial performance, business prospects, strategies, regulatory regimes, the sufficiency of budgeted capital expenditures in carrying out planned activities, the ability to obtain financing on acceptable terms, expansion of consumer adoption of the Company's (or its subsidiaries') technologies and products, results of DCC™ feasibility studies and the success of investments, all of which are subject to change based on market conditions, potential timing delays and other risk factors. Although Jericho believes that these assumptions and the expectations are reasonable based on information currently available to management, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the forward-looking statements. Investors should not place undue reliance on forward- looking statements.
Readers are cautioned that the foregoing lists are not exhaustive. The forward-looking statements contained in this news release are made as of the date of this news release, and Jericho does not undertake to update any forward-looking statements that are contained or referenced herein, except as required by applicable securities laws.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
SOURCE: Jericho Energy Ventures, Inc.
View the original press release on accesswire.com
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