Jericho Energy Ventures Streamlines Portfolio to Focus on Core Operating Assets
Jericho Energy Ventures (JROOF) has announced the sale of its minority stake in Supercritical Solutions for US$1.8 million, with 60% of funds already received and the remaining 40% to be completed within 60 days. This strategic move aligns with the company's 2025 initiative to streamline its portfolio and focus on core operating assets.
The company has also granted 3,400,000 incentive stock options to directors and officers, exercisable at C$0.20 for up to 5 years. Additionally, JEV has entered into a digital marketing services agreement with Senergy Communications Capital Inc., commencing April 1, 2025, for an initial two-month period at a fee of up to C$100,000 plus GST.
Jericho Energy Ventures (JROOF) ha annunciato la vendita della sua partecipazione minoritaria in Supercritical Solutions per 1,8 milioni di dollari USA, con il 60% dei fondi già ricevuti e il restante 40% da completare entro 60 giorni. Questa mossa strategica è in linea con l'iniziativa dell'azienda per il 2025, volta a semplificare il proprio portafoglio e concentrarsi sugli asset operativi principali.
L'azienda ha inoltre concesso 3.400.000 opzioni su azioni incentivanti a direttori e funzionari, esercitabili a C$0,20 per un periodo massimo di 5 anni. Inoltre, JEV ha stipulato un accordo per servizi di marketing digitale con Senergy Communications Capital Inc., che avrà inizio il 1° aprile 2025, per un periodo iniziale di due mesi a un costo massimo di C$100.000 più GST.
Jericho Energy Ventures (JROOF) ha anunciado la venta de su participación minoritaria en Supercritical Solutions por 1.8 millones de dólares estadounidenses, con el 60% de los fondos ya recibidos y el 40% restante que se completará en un plazo de 60 días. Este movimiento estratégico se alinea con la iniciativa de la empresa para 2025, que busca simplificar su cartera y centrarse en los activos operativos principales.
La empresa también ha otorgado 3.400.000 opciones sobre acciones de incentivo a directores y funcionarios, que se pueden ejercer a C$0.20 durante un máximo de 5 años. Además, JEV ha firmado un acuerdo de servicios de marketing digital con Senergy Communications Capital Inc., que comenzará el 1 de abril de 2025, por un período inicial de dos meses a una tarifa de hasta C$100,000 más GST.
Jericho Energy Ventures (JROOF)는 슈퍼크리티컬 솔루션의 소수 지분을 180만 달러에 매각했다고 발표했습니다. 자금의 60%는 이미 수령했으며 나머지 40%는 60일 이내에 완료될 예정입니다. 이 전략적 결정은 2025년까지 포트폴리오를 간소화하고 핵심 운영 자산에 집중하는 회사의 이니셔티브와 일치합니다.
회사는 또한 이사와 임원에게 3,400,000개의 인센티브 주식 옵션을 부여했으며, 이는 최대 5년 동안 C$0.20에 행사할 수 있습니다. 또한 JEV는 Senergy Communications Capital Inc.와 디지털 마케팅 서비스 계약을 체결하였으며, 이는 2025년 4월 1일부터 시작되며, 초기 2개월 동안 최대 C$100,000 및 GST의 수수료가 발생합니다.
Jericho Energy Ventures (JROOF) a annoncé la vente de sa participation minoritaire dans Supercritical Solutions pour 1,8 million de dollars US, avec 60 % des fonds déjà reçus et les 40 % restants devant être complétés dans les 60 jours. Ce mouvement stratégique s'inscrit dans le cadre de l'initiative de l'entreprise pour 2025 visant à rationaliser son portefeuille et à se concentrer sur les actifs opérationnels clés.
L'entreprise a également accordé 3.400.000 options d'achat d'actions incitatives à des directeurs et des dirigeants, exerçables à C$0,20 pendant une période maximale de 5 ans. De plus, JEV a conclu un accord de services de marketing numérique avec Senergy Communications Capital Inc., qui commencera le 1er avril 2025, pour une période initiale de deux mois à un tarif pouvant atteindre C$100.000 plus GST.
Jericho Energy Ventures (JROOF) hat den Verkauf seiner Minderheitsbeteiligung an Supercritical Solutions für 1,8 Millionen US-Dollar angekündigt, wobei 60% der Mittel bereits erhalten wurden und die verbleibenden 40% innerhalb von 60 Tagen abgeschlossen werden sollen. Dieser strategische Schritt steht im Einklang mit der Initiative des Unternehmens für 2025, die darauf abzielt, das Portfolio zu straffen und sich auf die Kernbetriebsanlagen zu konzentrieren.
Das Unternehmen hat außerdem 3.400.000 Anreiz-Aktienoptionen an Direktoren und Führungskräfte gewährt, die bis zu 5 Jahre lang zu C$0,20 ausgeübt werden können. Darüber hinaus hat JEV einen Vertrag über digitale Marketingdienstleistungen mit Senergy Communications Capital Inc. abgeschlossen, der am 1. April 2025 beginnt und für einen anfänglichen Zeitraum von zwei Monaten eine Gebühr von bis zu C$100.000 zuzüglich GST vorsieht.
- Sale of minority stake in Supercritical Solutions generates US$1.8 million in cash
- Strategic portfolio streamlining to focus on core operating assets
- 60% of sale proceeds already received
- Significant stock dilution through 3,400,000 new stock options
- Additional expenses of C$100,000 for marketing services
PHILADELPHIA, PA AND VANCOUVER, BC / ACCESS Newswire / March 10, 2025 / Jericho Energy Ventures Inc. (TSXV:JEV)(OTC:JROOF)(FRA:JLM) ("Jericho", "JEV" or the "Company") announces the sale of its minority stake in Supercritical Solutions as part of its strategy to sharpen focus on its core operating assets and drive shareholder value.
The transaction is valued at approximately US
Brian Williamson, CEO of Jericho, stated, "In 2025, our goal is to streamline our portfolio and concentrate on our core operating assets, where we can drive development and success. We have immense respect for the Supercritical Solutions team and their technology, and we look forward to it becoming a key supply option for our Hydrogen Technologies' boiler customers in the future."
Jericho also announces that it has granted 3,400,000 incentive stock options (the "Options"), pursuant to its stock option plan (the "Plan"), to certain directors and officers of the Company. The Options are exercisable at a price of C
Digital Marketing Services Agreement
Additionally, JEV announces that it has entered into a digital marketing services agreement with Senergy Communications Capital Inc., for an initial two-month period, expected to commence on April 1, 2025. Under the agreement, Senergy will provide a comprehensive suite of services, including digital advertising, media program management, social media marketing and shareholder communications. The agreement may be extended upon mutual written consent. In consideration of its services, the Company will pay Senergy a fee of up to C
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 a strategic investment and board position in California Catalysts (formerly H2U Technologies), a leading developer of advanced materials for electrolysis. 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:
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 successful completion of the transfer of funds for the sale agreement of Jericho's minority stake in Supercritical Solutions.
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 ACCESS Newswire
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