Jericho Energy Ventures Inc. announced a non-brokered private placement of up to 10,000,000 units of the company at a price of CAD 0.20 per unit for gross proceeds of up to CAD 2,000,000 on February 9, 2024. The units will consist of one common share and one warrant, whereby each warrant will entitle the holder to purchase one share at a price of CAD 0.24 per Share for a period of two years. The transaction will be led by insiders and existing shareholders of the company.

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. 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.