Jericho Energy Ventures Closes First Tranche of Non-Brokered Private Placement Financing
Jericho Energy Ventures (JROOF) has completed the first tranche of its non-brokered private placement, raising C$799,000 through the issuance of 7,990,000 units at C$0.10 per unit. Each unit includes one common share and one warrant, with warrants exercisable at C$0.20 for two years.
The company paid C$8,680 in finder's fees and issued 86,800 finder's warrants. An insider purchased 1,000,000 units in the financing. All securities are subject to a four-month hold period ending May 16, 2025. A second and final tranche is expected to close soon.
The proceeds will be used for general working capital purposes. The financing remains subject to final TSX Venture Exchange approval.
Jericho Energy Ventures (JROOF) ha completato la prima tranche della sua emissione privata non intermediata, raccogliendo C$799.000 attraverso l'emissione di 7.990.000 unità a C$0,10 per unità. Ogni unità include una azione ordinaria e un warrant, con warrant esercitabili a C$0,20 per due anni.
La società ha pagato C$8.680 come commissioni per il trovatore e ha emesso 86.800 warrant per il trovatore. Un insider ha acquistato 1.000.000 unità nel finanziamento. Tutti i titoli sono soggetti a un periodo di blocco di quattro mesi che termina il 16 maggio 2025. Si prevede che una seconda e ultima tranche venga chiusa a breve.
I proventi saranno utilizzati per le esigenze generali di capitale circolante. Il finanziamento rimane soggetto all'approvazione finale della TSX Venture Exchange.
Jericho Energy Ventures (JROOF) ha completado la primera tranche de su colocación privada no intermediada, recaudando C$799,000 a través de la emisión de 7,990,000 unidades a C$0.10 por unidad. Cada unidad incluye una acción común y un warrant, con warrants ejercitables a C$0.20 durante dos años.
La empresa pagó C$8,680 en comisiones al encontrador y emitió 86,800 warrants para el encontrador. Un insider compró 1,000,000 unidades en el financiamiento. Todos los valores están sujetos a un período de retención de cuatro meses que finaliza el 16 de mayo de 2025. Se espera que una segunda y última tranche se cierre pronto.
Los ingresos se utilizarán para fines generales de capital de trabajo. La financiación sigue sujeta a la aprobación final de la TSX Venture Exchange.
제리코 에너지 벤처스 (JROOF)는 중개인이 없는 사모 배정의 첫 번째 분할을 완료하고, 주당 C$0.10에 7,990,000 단위를 발행하여 C$799,000을 모금했습니다. 각 단위에는 보통주와 2년 동안 C$0.20에 행사 가능한 워런트가 포함되어 있습니다.
회사는 C$8,680의 중개 수수료를 지급하고 86,800개의 중개 워런트를 발행했습니다. 내부자가 이 자금 조달에서 1,000,000 단위를 구매했습니다. 모든 유가는 2025년 5월 16일에 종료되는 4개월의 보유 기간의 적용을 받습니다. 두 번째이자 마지막 분할이 곧 마감될 예정입니다.
수익금은 일반 운영 자본을 위해 사용될 것입니다. 이 자금 조달은 TSX 벤처 거래소의 최종 승인을 기다리고 있습니다.
Jericho Energy Ventures (JROOF) a complété la première tranche de son placement privé non lié à un courtier, levant C$799,000 grâce à l'émission de 7.990.000 unités à C$0,10 par unité. Chaque unité comprend une action ordinaire et un bon de souscription, avec des bons exercibles à C$0,20 pendant deux ans.
L'entreprise a payé C$8.680 en frais de trouveur et a émis 86.800 bons de souscription pour le trouveur. Un initié a acheté 1.000.000 d'unités lors du financement. Tous les titres sont soumis à une période de blocage de quatre mois se terminant le 16 mai 2025. Une seconde et dernière tranche devrait clôturer bientôt.
Les produits seront utilisés pour des besoins généraux de fonds de roulement. Le financement reste soumis à l'approbation finale de la TSX Venture Exchange.
Jericho Energy Ventures (JROOF) hat die erste Tranche seiner nicht vermittelte Privatplatzierung abgeschlossen und C$799.000 durch die Ausgabe von 7.990.000 Einheiten zu je C$0.10 pro Einheit eingeworben. Jede Einheit umfasst eine Stammaktie und eine Warrant, die innerhalb von zwei Jahren zu C$0.20 ausgeübt werden kann.
Das Unternehmen zahlte C$8.680 an Vermittlungsgebühren und gab 86.800 Vermittlungswarrants aus. Ein Insider kaufte 1.000.000 Einheiten der Finanzierung. Alle Wertpapiere unterliegen einer viermonatigen Haltedauer, die am 16. Mai 2025 endet. Eine zweite und letzte Tranche wird bald abgeschlossen erwartet.
Die Erlöse werden für allgemeine Betriebskapitalzwecke verwendet. Die Finanzierung steht noch unter dem Vorbehalt der endgültigen Genehmigung der TSX Venture Exchange.
- Secured C$799,000 in new capital funding
- Additional funding expected from second tranche closing
- Insider participation demonstrates management confidence
- Significant dilution to existing shareholders
- Low unit price of C$0.10 indicates weak market position
- Additional dilution expected from second tranche
PHILADELPHIA, PA and VANCOUVER, BC / ACCESSWIRE / January 15, 2025 / Jericho Energy Ventures Inc. (TSXV:JEV)(OTC PINK:JROOF)(FRA:JLM) ("Jericho", "JEV" or the "Company") is pleased to announce the closing of the first tranche of its previously announced non-brokered private placement (the "Financing"). The Company issued 7,990,000 units (the "Units") at a price of C
Each Unit consists of one common share (each, a "Share") and one share purchase warrant (each, a "Warrant"), with each Warrant entitling the holder to purchase one Share at a price of C
All securities issued under the Financing are subject to a four month and one day hold period expiring on May 16, 2025, under applicable securities laws in Canada and the rules of the TSX Venture Exchange (the "Exchange"). The Financing remains subject to final approval of the Exchange.
In connection with the first tranche of the Financing, the Company paid a total of C
An insider of Jericho purchased 1,000,000 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
Net proceeds from the Financing will be used for general working capital purposes.
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 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 California Catalysts (formerly H2U Technologies), a leading developer of advanced materials for electrolysis, 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: www.jerichoenergyventures.com
X: https://x.com/JerichoEV
LinkedIn: www.linkedin.com/company/jericho-energy-ventures
YouTube: www.youtube.com/c/JerichoEnergyVentures
CONTACT:
Allen Wilson, Director, or
Adam Rabiner, Investor Relations
Jericho Energy Ventures Inc.
Tel. 604.343.4534
Email: 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, the Company's ability to successfully complete the Financing, conditions to closing of the Financing, and the use of proceeds from the Financing.
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
FAQ
How much did Jericho Energy Ventures (JROOF) raise in its first tranche private placement?
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