On March 6, 2024, Jericho Energy Ventures Inc. closed the transaction. The company has now issued 11,141,900 units at a price of CAD 0.20 per unit for gross proceeds of up to CAD 2,228,380. Certain insiders of the company purchased 3,364,500 units in the financing. In connection with the financing, the company paid finder's fees in cash, totaling CAD 9,400 and issued broker warrants totaling 47,000 warrants, with each broker warrant entitling the holder to acquire one common share for a period of two years from closing at a price of CAD 0.24. All securities issued under the financing are subject to a four month hold period expiring on July 7, 2024, under applicable securities laws in Canada and the rules of the TSX Ventures Exchange. The financing remains subject to final approval of the Exchange.

The TSX Venture Exchange has accepted for filing documentation with respect to a non-brokered private placement. The transaction included participation from 21 placees including existing insider involvement of 1 insider for 3,364,500 and pro group involvement of one pro group for 50,000.