Jericho Energy Ventures and Smartkem Announce Potential Merger

Jericho Energy Ventures Inc. (JEV) and Smartkem, Inc. have signed a non-binding Letter of Intent for a proposed all-stock business combination. This merger aims to create a U.S.-owned, Nasdaq-listed company, focusing on AI infrastructure. JEV's scalable energy solutions will align with Smartkem's semiconductor innovations to meet the growing demand for AI data centers.

The merger seeks to enhance infrastructure by integrating Smartkem's organic semiconductor technology into JEV's platform. Key objectives include energy-efficient AI data centers, advanced chip packaging, and low-power optical data transmission for enhanced performance and environmental monitoring. Leadership from both companies emphasizes creating sustainable growth and shareholder value through this unified platform.

The transaction seeks to form a vertically integrated entity capable of capitalizing on the booming AI market. Upon completion, JEV stockholders would own 65% of the new entity, with Smartkem stockholders holding 35%. The deal faces several hurdles, including board, shareholder, and regulatory approvals, as well as further financial requirements.