Jericho Energy Ventures Partners with Global Renewable Developer Aurea Holdings to Bring its Hydrogen Solutions to Europe
Jericho Energy Ventures (JROOF) announces a strategic collaboration with Aurea Holdings to deliver green energy solutions for Europe's energy-intensive industries. Aurea will become a strategic investor in JEV and is expected to invest in the company's upcoming Hydrogen Platform. Additionally, JEV announces a non-brokered private placement to raise up to $2 million at CAD$0.12 per unit, with Aurea committing $500,000 as the lead investor. Each unit includes one common share and one warrant exercisable at $0.20 for two years.
Jericho Energy Ventures (JROOF) annuncia una collaborazione strategica con Aurea Holdings per fornire soluzioni di energia verde per le industrie ad alta intensità energetica in Europa. Aurea diventerà un investitore strategico in JEV e si prevede che investirà nella prossima Piattaforma Idrogeno dell'azienda. Inoltre, JEV annuncia un collocamento privato non mediato per raccogliere fino a $2 milioni a CAD$0.12 per unità, con Aurea che si impegna a investire $500.000 come investitore principale. Ogni unità include una azione comune e un warrant esercitabile a $0.20 per due anni.
Jericho Energy Ventures (JROOF) anuncia una colaboración estratégica con Aurea Holdings para ofrecer soluciones de energía verde para las industrias de alta intensidad energética en Europa. Aurea se convertirá en un inversor estratégico en JEV y se espera que invierta en la próxima Plataforma de Hidrógeno de la empresa. Además, JEV anuncia una colocación privada no intermediada para recaudar hasta $2 millones a CAD$0.12 por unidad, con Aurea comprometiéndose a invertir $500,000 como inversor principal. Cada unidad incluye una acción común y un warrant ejercitable a $0.20 por dos años.
제리코 에너지 벤처스 (JROOF)가 아우레아 홀딩스와 전략적 협력을 발표하여 유럽의 에너지 집약적 산업을 위한 녹색 에너지 솔루션을 제공합니다. 아우레아는 JEV의 전략적 투자자가 되며, 회사의 향후 수소 플랫폼에 투자할 것으로 예상됩니다. 또한, JEV는 CAD$0.12당 최대 $200만을 모금하기 위해 비중개 사모 배치를 발표하며, 아우레아가 선도 투자자로서 $500,000를 약속합니다. 각 단위에는 보통주 1주와 2년 동안 $0.20에 행사할 수 있는 주식매수청구권이 포함됩니다.
Jericho Energy Ventures (JROOF) annonce une collaboration stratégique avec Aurea Holdings pour fournir des solutions énergétiques vertes aux industries à forte intensité énergétique en Europe. Aurea deviendra un investisseur stratégique dans JEV et devrait investir dans la future Plateforme Hydrogène de l'entreprise. De plus, JEV annonce un placement privé sans courtier pour lever jusqu'à $2 millions à CAD$0.12 par unité, Aurea s'engageant à investir $500,000 en tant qu'investisseur principal. Chaque unité comprend une action ordinaire et un bon de souscription exerçable à $0.20 pendant deux ans.
Jericho Energy Ventures (JROOF) kündigt eine strategische Zusammenarbeit mit Aurea Holdings an, um grüne Energielösungen für die energieintensiven Industrien in Europa bereitzustellen. Aurea wird ein strategischer Investor in JEV und wird voraussichtlich in die bevorstehende Wasserstoffplattform des Unternehmens investieren. Darüber hinaus kündigt JEV eine nicht vermittelte Privatplatzierung an, um bis zu $2 Millionen zu einem Preis von CAD$0.12 pro Einheit zu sammeln, wobei Aurea sich als Hauptinvestor mit $500,000 verpflichtet. Jede Einheit beinhaltet eine Stammaktie und ein Warrant, das für zwei Jahre zu $0.20 ausgeübt werden kann.
- Strategic partnership with Aurea Holdings for European market expansion
- Secured $500,000 lead investment from Aurea Holdings
- Potential funding of up to $2 million through private placement
- Dilution of existing shareholders through new share issuance
- Private placement price of CAD$0.12 per unit may indicate low valuation
Aurea Makes Strategic Investment in Jericho
PHILADELPHIA, PA and VANCOUVER, BC / ACCESSWIRE / November 12, 2024 / Jericho Energy Ventures Inc. (TSXV:JEV)(OTC:JROOF)(FRA:JLM) ("Jericho", "JEV" or the "Company") is pleased to announce a strategic collaboration with Aurea Holdings ("Aurea"). This collaboration aims to deliver green energy solutions tailored for Europe's energy-intensive industries, driving substantial emissions reductions and enhancing sustainability across their operations.
Additionally, Aurea will become a strategic investor in JEV and is anticipated to become a strategic investor in the newly announced Hydrogen Platform, pending its formation and approval.
Aurea is an entrepreneurial family office with a mission to empower foundational change through strategic investments focused on transforming the energy and infrastructure landscape. Beyond financial capital, Aurea has the capacity to contribute invaluable expertise, resources and an extensive network in renewable energy to this partnership.
Concurrent Private Placement with Lead Investment from Aurea
Jericho also announces that it intends to close a non-brokered private placement (the "Financing") for gross proceeds of up to
Closing of the Financing is subject to customary closing conditions including TSX Venture Exchange (the "Exchange") approval. The securities issued under the Financing will be subject to a four month hold period under applicable securities laws in Canada and the rules of the Exchange. The Financing is expected to close immediately following conditional approval of the Exchange, subject to customary closing conditions, including the final approval of the Exchange. A finders' fee or broker's commission may be paid in connection with a portion of the Financing.
Participation by insiders of the Company in the Financing will constitute a related party transaction as defined in Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions ("MI 61-101"). The Company intends to rely on exemptions from the formal valuation and minority approval requirements provided under sections 5.5(a) and 5.7(1)(a) of MI 61-101 on the basis that neither the fair market value of the securities to be issued under the Financing nor the consideration to be paid by insiders of the Company will 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 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: www.jerichoenergyventures.com
X: https://x.com/JerichoEV
LinkedIn: www.linkedin.com/company/jericho-energy-ventures
YouTube: www.youtube.com/c/JerichoEnergyVentures
JEV CONTACT:
Allen Wilson, Director, or
Adam Rabiner, Dir. of 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 ongoing collaboration with Aurea, 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
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