Jericho Energy Ventures Explores Spin-Off And Separate Listing Of Hydrogen Platform To Maximize Shareholder Value
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VANCOUVER, BC AND TULSA, OK / ACCESSWIRE / April 17, 2024 / Jericho Energy Ventures Inc. (TSXV:JEV)(OTC PINK:JROOF)(FSE:JLM) ("Jericho", "JEV" or the "Company"), a diversified energy company, is pleased to announce that it has commenced a strategic process to explore the spin-off and separate listing of its Hydrogen platform (the "Proposed Spin-Off").
The objective of the Proposed Spin-Off is to create two independent, streamlined, pure-play companies focused on becoming leaders in their respective markets. Each of the businesses would have a clear focus, an appropriate capital structure, a distinct and compelling investment thesis, and focused investments across its portfolio to deliver superior results.
"Jericho's decision to pursue the Proposed Spin-Off and separate listing of its Hydrogen platform reflects its strategic commitment to meet the evolving demands of the energy market, all while striving to optimize shareholder returns. This initiative intends to create two agile, specialized companies, enabling them to pursue their unique strategic objectives and position themselves advantageously for sustained growth, profitability, and heightened investor appeal," remarked Brian Williamson, CEO of Jericho Energy Ventures. "Should this process come to fruition, we believe existing JEV shareholders stand to benefit from the growth prospects of owning both pure-play H2 and Oil & Gas enterprises, with each focused on maximizing value and becoming a leader within its sector."
While Jericho is actively exploring the Proposed Spin-Off and separate listing of its Hydrogen business, there are no guarantees regarding the terms, timing or completion of this process. If the Company is successful in effecting the contemplated Proposed Spin-Off transaction on favorable terms, the shares of Jericho Energy Ventures, representing its oil and gas business, would be expected to remain listed on the TSX Venture Exchange under the symbol JEV. The Company intends to provide further updates if and when material developments in this strategic process occur.
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 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://twitter.com/JerichoEV
LinkedIn: linkedin.com/company/jericho-energy-ventures
YouTube: youtube.com/c/JerichoEnergyVentures
CONTACT:
Allen Wilson, Director, or
Adam Rabiner, Investor Relations
Jericho Energy Ventures Inc.
Tel: +1.604.343.4534
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 ability of JEV to successfully facilitate the Proposed Spin-Off and separate listing of its hydrogen business.
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
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