Jericho Energy Ventures Completes Oversubscribed Private Placement

Jericho Energy Ventures Inc. announced the closure of its second and final tranche of a non-brokered private placement, raising $1,225,500 by issuing 12,255,000 units at $0.10 per unit. Overall, the company amassed $2,024,500 from both tranches of this financing initiative.

Each unit comprises one common share and one purchase warrant, allowing the holder to acquire an additional share at $0.20 within two years. Securities from this second tranche are under a hold period ending May 30, 2025, pending final Exchange approval.

Two insiders participated, acquiring 1,700,000 units, benefiting from exemptions under MI 61-101 due to the market capitalization criteria. Proceeds will support general working capital. Importantly, these securities are not registered under U.S. Securities Act.