Jericho Energy Ventures Inc Stock Price, News & Analysis

Jericho Energy Ventures (JROOF) has completed the second and final tranche of its oversubscribed non-brokered private placement financing. The company issued 12,255,000 units at $0.10 per unit in the second tranche, raising gross proceeds of $1,225,500. The total gross proceeds from both tranches amounted to $2,024,500.

Each unit consists of one common share and one share purchase warrant, with each warrant allowing the purchase of one share at $0.20 for a two-year period. Two company insiders participated in the second tranche, acquiring 1,700,000 units. The securities are subject to a four-month hold period ending May 30, 2025. The net proceeds will be used for general working capital purposes.

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) 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) announces that its subsidiary, Hydrogen Technologies, has been granted a UK patent for its zero-emission hydrogen-oxygen combustion technology. This adds to multiple existing US patents, strengthening their IP portfolio. The company is currently working with manufacturing partners Superior Boiler and Selas Heat Technology to implement their DCC™ boiler technology at a Western US university for campus district heating. The technology aims to decarbonize the $198 billion global district heating market. JEV has announced plans to spinout its hydrogen platform as a separate company.

Jericho Energy Ventures' subsidiary Hydrogen Technologies (HT) has secured $1 million in funding from the U.S. Department of Energy for a California-based project. The Hydrogen Permitting Issues and Improvements (HPII) project, developed with Sandia National Laboratories, GHD, and UC Riverside, aims to address challenges in deploying hydrogen-powered equipment. HT will use its share to engage with users of hydrogen-fueled boilers and permitting authorities. The project focuses on safety analysis and community engagement. Additionally, HT is working with Superior Boiler to deploy its zero-emission hydrogen boiler technology at a Western US university. The company has also arranged a shares for debt transaction to settle $376,071 in interest through issuing 2,892,846 common shares at $0.13.

Jericho Energy Ventures (JROOF) announces participation in European Hydrogen Week, taking place November 18-24 in Brussels, Belgium. CEO Brian Williamson and Hydrogen Technologies' CCO Dean Moretton will attend alongside their European partner, Aurea Holdings.

The event is Europe's largest annual hydrogen-focused gathering, organized through collaboration between Hydrogen Europe, Hydrogen Europe Research, the European Commission, and the Clean Hydrogen Partnership. Interested parties can arrange meetings with company representatives during the conference.

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) has announced plans to separate its hydrogen solutions platform into a new entity called Hydrogen Technologies (HTC). The separation, subject to regulatory and shareholder approvals, will create two independent specialized energy companies. Current JEV shareholders will retain their shares and receive additional HTC shares on a pro rata basis. The decision aims to allow both businesses to operate with distinct strategies and focused investment plans. Shareholder approval may be sought at the AGM scheduled for January 15, 2025. Post-separation, JEV will continue trading on TSX Venture Exchange, representing its oil and gas business.

Jericho Energy Ventures Inc. (TSXV:JEV, OTC PINK:JROOF, FRA:JLM) is set to participate in the Lytham Partners Fall 2024 Investor Conference on October 1, 2024. The event will be held virtually, featuring a webcasted presentation and one-on-one meetings with investors.

Key details:

• Webcasted presentation: Tuesday, October 1, 2024, at 11am ET (8am PT)
• Webcast access: Available on the conference home page or directly via a provided link
• One-on-one meetings: Management will be available for virtual meetings throughout the event

Investors can arrange meetings by contacting Lytham Partners or registering for the event through the provided link. The webcast will be available for replay following the event.