Jericho Energy Ventures Portfolio Company Awarded California Grant for Climate Innovation
Jericho Energy Ventures (JROOF) announces that its portfolio company, in partnership with Capella Partners, has been awarded a grant from the Climate Innovation Proof of Concept Grant program at the California NanoSystems Institute (CNSI), UC Santa Barbara. This is Jericho's second H2 portfolio company to receive a California grant in H2 2024.
Additionally, the company has amended its previously announced private placement, repricing the units from CAD$0.12 to $0.10, targeting gross proceeds of up to $2 million. Each unit includes one common share and one warrant exercisable at $0.20 for two years. The financing is expected to close around January 15, 2025, subject to TSX Venture Exchange approval.
Jericho Energy Ventures (JROOF) annuncia che la sua azienda del portafoglio, in collaborazione con Capella Partners, ha ricevuto un finanziamento dal programma Climate Innovation Proof of Concept Grant presso il California NanoSystems Institute (CNSI), UC Santa Barbara. Questa è la seconda azienda del portafoglio H2 di Jericho a ricevere un finanziamento dalla California nel H2 2024.
Inoltre, l'azienda ha modificato la precedente offerta pubblica di acquisto, rivedendo il prezzo delle unità da CAD$0.12 a $0.10, puntando a ricavi lordi di fino a $2 milioni. Ciascuna unità comprende una azione comune e un warrant esercitabile a $0.20 per due anni. Si prevede che il finanziamento si chiuda intorno al 15 gennaio 2025, soggetto all'approvazione della TSX Venture Exchange.
Jericho Energy Ventures (JROOF) anuncia que su empresa en cartera, en asociación con Capella Partners, ha recibido una subvención del programa Climate Innovation Proof of Concept Grant en el California NanoSystems Institute (CNSI), UC Santa Barbara. Esta es la segunda empresa de la cartera de H2 de Jericho en recibir una subvención de California en el H2 de 2024.
Además, la empresa ha modificado su colocación privada previamente anunciada, ajustando el precio de las unidades de CAD$0.12 a $0.10, buscando ingresos brutos de hasta $2 millones. Cada unidad incluye una acción común y un warrant ejercitable a $0.20 durante dos años. Se espera que el financiamiento se cierre alrededor del 15 de enero de 2025, sujeto a la aprobación de la TSX Venture Exchange.
제리코 에너지 벤처스 (JROOF)는 캘리포니아 나노시스템 연구소(CNSI), UC 샌타바버라의 기후 혁신 개념 증명 보조금 프로그램에서 캡엘라 파트너스와 협력하여 포트폴리오 회사가 보조금을 받았다고 발표했습니다. 이는 Jericho의 두 번째 H2 포트폴리오 회사로 2024년 하반기에 캘리포니아 보조금을 받게 됩니다.
또한, 이 회사는 이전에 발표된 사모 배정을 수정하여 단위 가격을 CAD$0.12에서 $0.10으로 조정하고 최대 $2백만의 총 수익을 목표로 하고 있습니다. 각 단위는 하나의 보통주와 $0.20에 2년 동안 행사할 수 있는 워런트를 포함합니다. 자금 조달은 2025년 1월 15일경에 종료될 것으로 예상되며, TSX 벤처 거래소의 승인을 받을 것입니다.
Jericho Energy Ventures (JROOF) annonce que son entreprise de portefeuille, en partenariat avec Capella Partners, a reçu une subvention du programme Climate Innovation Proof of Concept Grant au California NanoSystems Institute (CNSI), UC Santa Barbara. C'est la deuxième entreprise du portefeuille H2 de Jericho à recevoir une subvention de Californie au second semestre 2024.
De plus, l'entreprise a modifié son placement privé précédemment annoncé, en révisant le prix des unités de CAD$0.12 à $0.10, avec un objectif de produits bruts allant jusqu'à $2 millions. Chaque unité comprend une action ordinaire et un bon de souscription exerçable à $0.20 pendant deux ans. Le financement devrait se clôturer autour du 15 janvier 2025, sous réserve de l'approbation de la TSX Venture Exchange.
Jericho Energy Ventures (JROOF) gibt bekannt, dass sein Portfolio-Unternehmen in Partnerschaft mit Capella Partners einen Zuschuss aus dem Climate Innovation Proof of Concept Grant-Programm am California NanoSystems Institute (CNSI), UC Santa Barbara, erhalten hat. Dies ist das zweite H2-Portfolio-Unternehmen von Jericho, das im H2 2024 einen Zuschuss aus Kalifornien erhält.
Darüber hinaus hat das Unternehmen seine zuvor angekündigte Privatplatzierung geändert und den Preis der Einheiten von CAD$0.12 auf $0.10 angepasst, mit dem Ziel, Bruttoeinnahmen von bis zu $2 Millionen zu erzielen. Jede Einheit umfasst eine Stammaktie und einen Warrant, der zwei Jahre lang zu $0.20 ausgeübt werden kann. Die Finanzierung soll voraussichtlich am 15. Januar 2025 abgeschlossen werden, vorbehaltlich der Genehmigung der TSX Venture Exchange.
- Second H2 portfolio company secured California grant in H2 2024
- Secured grant from prestigious CNSI for green hydrogen innovation
- Private placement repriced downward from CAD$0.12 to $0.10 per unit
- Additional share dilution through $2M private placement
PHILADELPHIA, PA and VANCOUVER, BC / ACCESSWIRE / December 31, 2024 / Jericho Energy Ventures Inc. (TSXV:JEV)(OTC PINK:JROOF)(FRA:JLM) ("Jericho", "JEV" or the "Company") is pleased to announce that, as part of its long-standing hydrogen partnership with Capella Partners, a JEV portfolio company was awarded a grant from the Climate Innovation Proof of Concept Grant program associated with the California NanoSystems Institute (CNSI) laboratory at the University of California, Santa Barbara.
This marks Jericho's second H2 portfolio company to secure a California-based grant in the second half of 2024.
Brian Williamson, CEO of Jericho, stated: "We are honored that CNSI has recognized our collaboration and efforts with the Capella team in this highly competitive process. Our cutting-edge advancements highlight the critical role of green hydrogen in accelerating the energy transition. As a cornerstone of this shift, green hydrogen demands relentless efforts to reduce costs, and each step we take brings us closer to a more sustainable and transformative future."
Private Placement Amendment
Further to its news release dated November 12, 2024, Jericho has repriced its previously announced non-brokered private placement (the "Financing") for gross proceeds of up to
The Financing is expected to close on or about January 15, 2025, and 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
What grant did Jericho Energy Ventures (JROOF) receive in December 2024?
What are the terms of JROOF's amended private placement in December 2024?
When is JROOF's private placement expected to close?
How many California-based grants has JROOF secured in H2 2024?
