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As the digital economy accelerates and generative AI becomes more deeply embedded in business and daily life, the physical infrastructure supporting these technologies is undergoing a transformative explosion.
In this graphic, we use data from McKinsey to show current and projected energy demand from data centers in the United States. Data is from October 2023.
U.S. Data Centers Could Quadruple Power Demand by 2030
Today, data centers account for roughly 4% of total U.S. electricity consumption. But by 2030, that share is projected to rise to 12%, driven by unprecedented growth in computing power, storage needs, and AI model training.
In fact, U.S. data center energy demand is set to jump from 224 terawatt-hours in 2025 to 606 terawatt-hours in 2030.
Year
Consumption (TWh)
% of Total Power Demand
2023
147
4%
2024
178
4%
2025
224
5%
2026
292
7%
2027
371
8%
2028
450
9%
2029
513
10%
2030
606
12%
Meeting this projected demand could require $500 billion in new data center infrastructure, along with a vast expansion of electricity generation, grid capacity, and water-cooling systems. Generative AI alone could require 50–60 GW of additional infrastructure.
This massive investment would also depend on upgrades in permitting, land use, and supply chain logistics. For example, the lead time to power new data centers in large markets such as Northern Virginia can exceed three years. In some cases, lead times for electrical equipment are two years or more.
A Strain on the U.S. Grid
The U.S. has experienced relatively flat power demand since 2007. Models suggest that this stability could be disrupted in the coming years. Data center growth alone could account for 30–40% of all net-new electricity demand through 2030.
Unlike typical power loads, data center demand is constant, dense, and growing exponentially. Facilities often operate 24/7, with little downtime and minimal flexibility to reduce usage.
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TULSA, OK / ACCESS Newswire / July 7, 2025 / Jericho Energy Ventures Inc. (TSXV:JEV)(OTCID:JROOF)(FRA:JLM) (“Jericho”, “JEV” or the “Company”) is pleased to announce it has signed a Memorandum of Understanding (MOU), dated July 6, 2025, with M2 Development Solutions (“M2”) to form a strategic partnership. This collaboration will integrate M2’s large, gigawatt-scale sites into Jericho’s growing AI data center portfolio.
This partnership significantly expands Jericho’s U.S. footprint beyond its Oklahoma asset base, incorporating M2’s high-capacity sites in Ohio and Nevada. The initial sites include:
Ohio – 400 Acres with access to Utility Power and on-site Natural Gas feed Power generation assets
Nevada – 3,700 Acres with access to Utility Power, on-site Geothermal power, on-site solar power, and on-site Natural Gas feed Power generation assets
Together, JEV and M2 are well-positioned to meet the rapidly increasing demand for scalable, high-performance infrastructure optimized for advanced artificial intelligence (AI) workloads across the United States.
“Our partnership with M2 is a transformative step in executing our AI data center strategy,” said Brian Williamson, CEO of Jericho Energy Ventures. “Integrating M2’s gigawatt-scale sites accelerates our ability to deliver scalable, energy-efficient infrastructure for modern AI workloads. With the proven leadership of COL (Ret.) Mark Schonberg and Mark Vogel, we are poised to meet the surging AI compute demand across key U.S. markets.”
About M2 Development Solutions, LLC
M2 is co-led by Col. (Ret.) Mark Schonberg and Mark Vogel, bringing extensive expertise to the partnership:
Col. (Ret.) Mark Schonberg is a 30-year U.S. Army veteran and a seasoned infrastructure leader. His deep expertise spans IT services, cybersecurity, and data center development. Throughout his military career, he held senior positions including Cyber Capabilities Development and Integration Director for the U.S. Army and CIO/G6 at Army Cyber Command. He also played a key role in the IT and C4I build-out for the $16 billion Yongsan Relocation Program in South Korea. Since retiring in 2020, Col. Schonberg has continued to lead in the private sector, focusing on data center infrastructure, renewable energy, and smart city solutions.
Mark Vogel is a seasoned real estate development leader with over 40 years of experience delivering transformative commercial, residential, and mixed-use projects, including the $400M Bowie Town Center (375-acre mixed-use, MD) and high-rise student housing near the University of Maryland in College Park. Known for his strategic vision and collaborative approach, he now leads cutting-edge data center developments to meet surging demand for high-performance digital infrastructure across the U.S. Drawing on deep expertise in land planning, community engagement, and infrastructure delivery, Mark drives sustainable, high-impact projects that reshape communities and power the digital economy. His philanthropic work includes founding the “Give a Dam” campaign in Burkina Faso through Africare, two years in the Peace Corps in Liberia, and leading the Greater Oxon Hill CDC to advance housing, health, and economic opportunity in communities in Maryland. He also spent over a decade fundraising for Mission of Love Charities, supporting food security, housing, mental health, and workforce development for vulnerable populations.
About Jericho Energy Ventures
Jericho Energy Ventures (JEV) is uniquely positioned at the nexus of energy and AI infrastructure. Leveraging our long-producing oil and gas joint venture assets and robust Oklahoma infrastructure, we are deploying scalable, on-site power solutions to build cutting-edge build-to-suit AI Data Centers. With direct access to abundant, low-cost natural gas, we deliver efficient, high-performance energy solutions — reducing waste, maximizing output, and unlocking long-term value in the rapidly converging AI and energy markets.
This news release contains certain “forward-looking information” and “forward-looking statements” (collectively, “forward-looking statements“) within the meaning of applicable securities laws. Such forward-looking statements are not representative of historical facts or information or current condition, but instead represent only Jericho’s beliefs regarding future events, plans or objectives, many of which, by their nature, are inherently uncertain and outside of Jericho’s control. Forward-looking statements are frequently characterized by words such as ”plan”, “expect”, “project”, “intend”, “believe”, “anticipate”, “estimate” and other similar words, or statements that certain events or conditions “may”, “will” or “may not” occur. Specifically, this news release contains forward-looking statements, including, but not limited to, statements regarding the successful implementation of the JEV-M2 MOU and the planned rollout of JEV’s AI Data Centers initiative.
Forward-looking statements are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those anticipated in the forward-looking statements, which include, but are not limited to: regulatory changes; changes to the definition of, or interpretation of, foreign private issuer status; the impacts of COVID-19 and other infectious diseases; general economic conditions; industry conditions; current and future commodity prices and price volatility; significant and ongoing stock market volatility; currency and interest rate fluctuation; governmental regulation of the energy industry, including environmental regulation; geological, technical and drilling problems; unanticipated operating events; the availability of capital on acceptable terms; the need to obtain required approvals from regulatory authorities; liabilities and risks inherent in oil and gas exploration, development and production operations; liabilities and risks inherent in early stage hydrogen technology projects and new energy systems; changes in government environmental objectives or plans; and the other factors described in Jericho’s public filings available at www.sedarplus.ca.
The forward-looking statements contained herein are based on certain key expectations and assumptions of Jericho concerning anticipated financial performance, business prospects, strategies, regulatory regimes, the sufficiency of budgeted capital expenditures in carrying out planned activities, the ability to obtain financing on acceptable terms, expansion of consumer adoption of the Company’s (or its subsidiaries’) technologies and products, all of which are subject to change based on market conditions, potential timing delays and other risk factors. Although Jericho believes that these assumptions and the expectations are reasonable based on information currently available to management, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the forward-looking statements. Investors should not place undue reliance on forward-looking statements.
Readers are cautioned that the foregoing lists are not exhaustive. The forward-looking statements contained in this news release are made as of the date of this news release, and Jericho does not undertake to update any forward-looking statements that are contained or referenced herein, except as required by applicable securities laws.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
IEA Predicts AI Data Centers Will Account for Half of U.S. Electricity Demand Growth
TULSA, OK / ACCESS Newswire / May 2, 2025 / Jericho Energy Ventures Inc. (TSXV:JEV)(OTC PINK:JROOF)(FRA:JLM) (“Jericho”, “JEV” or the “Company”) is capitalizing on its strategic positioning along a main U.S. fiber ‘superhighway’ route to fast-track the development of its AI Modular Data Center project in Oklahoma.
JEV’s management considers its strategically located, fiber-connected energy infrastructure and access to low-cost natural gas as key advantages in providing high-performance, scalable solutions to meet the rising demands of the AI and energy sectors.
An April 2025 International Energy Agency (IEA) report projects that AI data centers will account for half of the U.S. electricity demand growth, surpassing the combined electricity consumption of aluminum, steel, cement, chemicals, and other energy-intensive industries by 2030.
Brian Williamson, CEO of JEV, commented: “Locating our modular data centers directly on the fiber backbone gives us a speed and efficiency advantage, while our abundant energy resources allow us to offer reliable, cost-effective AI compute power. Our modular data center design enables rapid deployment and expansion, providing the flexibility and performance demanded by next-generation AI workloads.”
Jericho recently partnered with AT&T to deploy a minimum of 10Gbps of fiber optic connectivity at its initial Modular High Performance AI Data Center site. This installation leverages advanced data transfer protocols and is engineered to scale beyond 100Gbps to meet future demand.
About Jericho Energy Ventures
Jericho Energy Ventures (JEV) is uniquely positioned at the nexus of energy and AI infrastructure. Leveraging our long-producing oil and gas joint venture assets and robust Oklahoma infrastructure, we are deploying scalable, on-site power solutions to build cutting-edge modular AI data centers. With direct access to abundant, low-cost natural gas, we deliver efficient, high-performance energy solutions — reducing waste, maximizing output, and unlocking long-term value in the rapidly converging AI and energy markets.
JEV is also driving the clean hydrogen energy transition. Our wholly owned subsidiary, Hydrogen Technologies, delivers patented zero-emission boiler and burner systems for commercial and industrial heat and steam applications. We also hold a significant minority stake and a board position in California Catalysts (formerly H2U Technologies), a leading innovator in electrolysis materials.
At JEV, our mission is clear: to innovate relentlessly, optimize energy resources, and power tomorrow’s breakthroughs, one bold step at a time.
This news release contains certain “forward-looking information” and “forward-looking statements” (collectively, “forward-looking statements“) within the meaning of applicable securities laws. Such forward-looking statements are not representative of historical facts or information or current condition, but instead represent only Jericho’s beliefs regarding future events, plans or objectives, many of which, by their nature, are inherently uncertain and outside of Jericho’s control. Forward-looking statements are frequently characterized by words such as ”plan”, “expect”, “project”, “intend”, “believe”, “anticipate”, “estimate” and other similar words, or statements that certain events or conditions “may”, “will” or “may not” occur. Specifically, this news release contains forward-looking statements relating to, among others, the completion of its new AI Modular Data Centers initiative launch and successful supplier and customer adoption.
Forward-looking statements are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those anticipated in the forward-looking statements, which include, but are not limited to: regulatory changes; changes to the definition of, or interpretation of, foreign private issuer status; the impacts of COVID-19 and other infectious diseases; general economic conditions; industry conditions; current and future commodity prices and price volatility; significant and ongoing stock market volatility; currency and interest rate fluctuation; governmental regulation of the energy industry, including environmental regulation; geological, technical and drilling problems; unanticipated operating events; the availability of capital on acceptable terms; the need to obtain required approvals from regulatory authorities; liabilities and risks inherent in oil and gas exploration, development and production operations; liabilities and risks inherent in early stage hydrogen technology projects, energy storage, carbon capture and new energy systems; changes in government environmental objectives or plans; and the other factors described in Jericho’s public filings available at www.sedarplus.ca.
The forward-looking statements contained herein are based on certain key expectations and assumptions of Jericho concerning anticipated financial performance, business prospects, strategies, regulatory regimes, the sufficiency of budgeted capital expenditures in carrying out planned activities, the ability to obtain financing on acceptable terms, expansion of consumer adoption of the Company’s (or its subsidiaries’) technologies and products, all of which are subject to change based on market conditions, potential timing delays and other risk factors. Although Jericho believes that these assumptions and the expectations are reasonable based on information currently available to management, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the forward-looking statements. Investors should not place undue reliance on forward-looking statements.
Readers are cautioned that the foregoing lists are not exhaustive. The forward-looking statements contained in this news release are made as of the date of this news release, and Jericho does not undertake to update any forward-looking statements that are contained or referenced herein, except as required by applicable securities laws.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
TULSA, OK / ACCESS Newswire / April 9, 2025 / Further to its news release dated March 31, 2025, Jericho Energy Ventures Inc. (TSXV:JEV)(OTC PINK:JROOF)(FRA:JLM) (“Jericho”, “JEV” or the “Company”) is pleased to announce that it has partnered with AT&T to install a minimum of 10Gbps of fiber optic at its initial Modular High Performance AI Data Center site in Oklahoma. This deployment leverages the latest technology and data transfer protocols and is designed to scale beyond 100Gbps to meet anticipated demand growth.
On March 31, 2025, JEV unveiled its innovative Modular Data center venture, harnessing its natural gas assets and infrastructure to drive the development of advanced, technology-driven, AI-focused computing solutions tailored for the AI era.
Brian Williamson, CEO of Jericho Energy Ventures, commented: “We are moving full steam ahead in building out our AI modular data centers, and partnering with industry-leader AT&T along with others to deploy high-speed fiber connectivity on-site is a critical step in developing a next-generation modular AI computing infrastructure. By leveraging our natural gas assets and strategic locations, we are uniquely positioned to provide scalable, reliable, and cost-effective power solutions to meet the growing demands of the AI age.”
A March 30, 2025, Wall Street Journal article, “The AI Data-Center Boom Is Coming to America’s Heartland,” highlights how Meta and other tech giants are scouring rural America for land, transmission lines and natural gas to power AI operations, drawing them into the heart of the nation’s oil and gas region.
Jericho also announces that it has granted 1,000,000 incentive stock options (the “Options”) under its stock option plan (the “Plan”) to McKenna & Associates, a boutique advisory and investment firm and a 10% security holder of JEV. The firm’s principal is Andrew J. McKenna. The Options are exercisable at a price of C$0.20 for a period of up to 3 years.
Expressing McKenna & Associates’ continued support for JEV, Brian Schafer, President, stated: “Jericho’s launch of its natural gas-powered modular AI data center in Oklahoma is a smart, forward-thinking response to rising U.S. data storage demand. It reflects bold vision and strong execution to merge resilient and deployable data centers that capitalize on the plethora of small natural gas repositories across America’s heartland. I have full confidence in the management team and their strategy, and I remain fully committed to supporting Jericho’s next growth phase — including exploring a U.S. listing — as the Company works to deliver greater shareholder value at this pivotal stage.”
About Jericho Energy Ventures Jericho is an energy company positioned to meet today’s energy demand as well as the energy transition; owning, operating and developing both traditional hydrocarbon JV assets and advancing the low-carbon energy transition, with active investments in hydrogen. Jericho owns and operates long-held producing oil and gas JV assets in Oklahoma which it is currently developing from cash flows in an effort to further increase production. Through its wholly owned subsidiary, Hydrogen Technologies, Jericho delivers breakthrough, patented, zero-emission boiler technology to the Commercial & Industrial heat and steam industry. We also hold a strategic investment and board position in California Catalysts (formerly H2U Technologies), a leading developer of advanced materials for electrolysis.
This news release contains certain “forward-looking information” and “forward-looking statements” (collectively, “forward-looking statements“) within the meaning of applicable securities laws. Such forward-looking statements are not representative of historical facts or information or current condition, but instead represent only Jericho’s beliefs regarding future events, plans or objectives, many of which, by their nature, are inherently uncertain and outside of Jericho’s control. Forward-looking statements are frequently characterized by words such as ”plan”, “expect”, “project”, “intend”, “believe”, “anticipate”, “estimate” and other similar words, or statements that certain events or conditions “may”, “will” or “may not” occur. Specifically, this news release contains forward-looking statements relating to, among others, the completion of its new Modular Data Centers initiative launch and successful supplier and customer adoption.
Forward-looking statements are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those anticipated in the forward-looking statements, which include, but are not limited to: regulatory changes; changes to the definition of, or interpretation of, foreign private issuer status; the impacts of COVID-19 and other infectious diseases; general economic conditions; industry conditions; current and future commodity prices and price volatility; significant and ongoing stock market volatility; currency and interest rate fluctuation; governmental regulation of the energy industry, including environmental regulation; geological, technical and drilling problems; unanticipated operating events; the availability of capital on acceptable terms; the need to obtain required approvals from regulatory authorities; liabilities and risks inherent in oil and gas exploration, development and production operations; liabilities and risks inherent in early stage hydrogen technology projects, energy storage, carbon capture and new energy systems; changes in government environmental objectives or plans; and the other factors described in Jericho’s public filings available at www.sedarplus.ca.
The forward-looking statements contained herein are based on certain key expectations and assumptions of Jericho concerning anticipated financial performance, business prospects, strategies, regulatory regimes, the sufficiency of budgeted capital expenditures in carrying out planned activities, the ability to obtain financing on acceptable terms, expansion of consumer adoption of the Company’s (or its subsidiaries’) technologies and products, all of which are subject to change based on market conditions, potential timing delays and other risk factors. Although Jericho believes that these assumptions and the expectations are reasonable based on information currently available to management, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the forward-looking statements. Investors should not place undue reliance on forward-looking statements.
Readers are cautioned that the foregoing lists are not exhaustive. The forward-looking statements contained in this news release are made as of the date of this news release, and Jericho does not undertake to update any forward-looking statements that are contained or referenced herein, except as required by applicable securities laws.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Company well positioned to capitalize on Trump administration’s pro-energy regulatory landscape
TULSA, OK AND VANCOUVER, BC / ACCESS Newswire / March 31, 2025 / Jericho Energy Ventures Inc. (TSXV:JEV)(OTC:JROOF)(FRA:JLM) (“Jericho”, “JEV” or the “Company”) is pleased to announce the launch of its innovative Modular Data Center venture, utilizing natural gas assets and infrastructure as the foundation for the development of advanced, technology-driven AI computing solutions for the AI era.
JEV’s management believes the Company is ideally positioned to capitalize on the Trump administration’s pro-energy and pro-development regulatory landscape by leveraging its strategic partnerships, robust infrastructure, prime acreage in Oklahoma’s storied energy corridor, and abundant availability of cost-effective natural gas to power data centers.
Jericho’s Modular Data Center business will be overseen from its Tulsa, Oklahoma regional office, where the Company’s oil and gas joint venture currently owns and operates approximately 40,000 acres of productive land.
By converting its natural gas into long-term reliable on-site power, JEV intends to offer secure, modular, latest and next-generation computing infrastructure tailored for AI applications – enhancing efficiency, reducing waste, and strengthening energy resilience.
In conjunction with this initiative, Jericho will renew its focus on maximizing and developing its traditional energy assets to drive significant production growth.
Brian Williamson, CEO of Jericho, stated: “We are taking a page from the playbook of our industry leaders, utilizing our natural gas and infrastructure as a means to fuel modular AI computing solutions. We believe this unlocks a transformative growth opportunity. By aligning our energy resources with the booming demand for modular AI computing infrastructure, we aim to boost revenue and elevate shareholder value through an innovative, sustainable approach.”
“In addition to utilizing natural gas assets to power our modular AI centers, we will work with our local utilities and cooperatives to provide redundant cost-effective power solutions to ensure high availability. We also see the pathway where we can leverage our energy transition assets, offering customers a lower-carbon hydrogen fuel solution for their AI compute.”
A McKinsey & Company report from October 24, 2024, stated that demand for AI-ready data centers offers many opportunities for companies and investors across the value chain, and projects that global data center demand could grow 19-22% annually from 2023 to 2030, reaching 171-219 gigawatts (GW). In a less likely scenario, demand could surge 27% to 298 GW-far exceeding today’s 60 GW. To prevent a supply shortfall, double the capacity built since 2000 would need to be constructed in under a quarter of the time.
Global investment in U.S. data centers is surging. On January 7, 2025, Dubai-based DAMAC Properties announced plans to invest an initial $20 billion into data centers tailored for AI and cloud computing, with the first phase of the project planned to take place in Oklahoma, Texas, Louisiana, Ohio, Illinois, and Indiana.
About Jericho Energy Ventures
Jericho is an energy company positioned to meet today’s energy demand as well as the energy transition; owning, operating and developing both traditional hydrocarbon JV assets and advancing the low-carbon energy transition, with active investments in hydrogen. Jericho owns and operates long-held producing oil and gas JV assets in Oklahoma which it is currently developing from cash flows in an effort to further increase production. Through its wholly owned subsidiary, Hydrogen Technologies, Jericho delivers breakthrough, patented, zero-emission boiler technology to the Commercial & Industrial heat and steam industry. Etna Solutions, Inc., majority owned by JEV, is developing a patent-pending, high-temperature, low-cost alkaline-based electrolyzer system. We also hold a strategic investment and board position in California Catalysts (formerly H2U Technologies), a leading developer of advanced materials for electrolysis.
This news release contains certain “forward-looking information” and “forward-looking statements” (collectively, “forward-looking statements“) within the meaning of applicable securities laws. Such forward-looking statements are not representative of historical facts or information or current condition, but instead represent only Jericho’s beliefs regarding future events, plans or objectives, many of which, by their nature, are inherently uncertain and outside of Jericho’s control. Forward-looking statements are frequently characterized by words such as ”plan”, “expect”, “project”, “intend”, “believe”, “anticipate”, “estimate” and other similar words, or statements that certain events or conditions “may”, “will” or “may not” occur. Specifically, this news release contains forward-looking statements relating to, among others, the completion of its new Modular Data Centers initiative launch and successful supplier and customer adoption.
Forward-looking statements are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those anticipated in the forward-looking statements, which include, but are not limited to: regulatory changes; changes to the definition of, or interpretation of, foreign private issuer status; the impacts of COVID-19 and other infectious diseases; general economic conditions; industry conditions; current and future commodity prices and price volatility; significant and ongoing stock market volatility; currency and interest rate fluctuation; governmental regulation of the energy industry, including environmental regulation; geological, technical and drilling problems; unanticipated operating events; the availability of capital on acceptable terms; the need to obtain required approvals from regulatory authorities; liabilities and risks inherent in oil and gas exploration, development and production operations; liabilities and risks inherent in early stage hydrogen technology projects, energy storage, carbon capture and new energy systems; changes in government environmental objectives or plans; and the other factors described in Jericho’s public filings available at www.sedarplus.ca.
The forward-looking statements contained herein are based on certain key expectations and assumptions of Jericho concerning anticipated financial performance, business prospects, strategies, regulatory regimes, the sufficiency of budgeted capital expenditures in carrying out planned activities, the ability to obtain financing on acceptable terms, expansion of consumer adoption of the Company’s (or its subsidiaries’) technologies and products, all of which are subject to change based on market conditions, potential timing delays and other risk factors. Although Jericho believes that these assumptions and the expectations are reasonable based on information currently available to management, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the forward-looking statements. Investors should not place undue reliance on forward-looking statements.
Readers are cautioned that the foregoing lists are not exhaustive. The forward-looking statements contained in this news release are made as of the date of this news release, and Jericho does not undertake to update any forward-looking statements that are contained or referenced herein, except as required by applicable securities laws.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
PHILADELPHIA, PA AND VANCOUVER, BC / ACCESS Newswire / March 10, 2025 / Jericho Energy Ventures Inc. (TSXV:JEV)(OTC:JROOF)(FRA:JLM) (“Jericho”, “JEV” or the “Company”) announces the sale of its minority stake in Supercritical Solutions as part of its strategy to sharpen focus on its core operating assets and drive shareholder value.
The transaction is valued at approximately US$1.8 million, with 60% of the funds already received. The buyer has up to 60 days to complete the purchase of the remaining 40% balance.
Brian Williamson, CEO of Jericho, stated, “In 2025, our goal is to streamline our portfolio and concentrate on our core operating assets, where we can drive development and success. We have immense respect for the Supercritical Solutions team and their technology, and we look forward to it becoming a key supply option for our Hydrogen Technologies’ boiler customers in the future.”
Jericho also announces that it has granted 3,400,000 incentive stock options (the “Options”), pursuant to its stock option plan (the “Plan”), to certain directors and officers of the Company. The Options are exercisable at a price of C$0.20 for a period of up to 5 years.
Digital Marketing Services Agreement
Additionally, JEV announces that it has entered into a digital marketing services agreement with Senergy Communications Capital Inc., for an initial two-month period, expected to commence on April 1, 2025. Under the agreement, Senergy will provide a comprehensive suite of services, including digital advertising, media program management, social media marketing and shareholder communications. The agreement may be extended upon mutual written consent. In consideration of its services, the Company will pay Senergy a fee of up to C$100,000 plus GST in installments over the term of agreement. To the Company’s knowledge, Senergy and its principal, have no direct or indirect interest in JEV and have no intention or right to acquire such an interest. The engagement is subject to TSX Venture Exchange approval. Senergy is a British Columbia based company headed by Aleem Fidai who is operating at arm’s length from the Company.
About Jericho Energy Ventures
Jericho is an energy company positioned for the current energy transitions; owning, operating and developing both traditional hydrocarbon JV assets and advancing the low-carbon energy transition, with active investments in hydrogen. Our wholly owned subsidiary, Hydrogen Technologies, delivers breakthrough, patented, zero-emission boiler technology to the Commercial & Industrial heat and steam industry. We also hold a strategic investment and board position in California Catalysts (formerly H2U Technologies), a leading developer of advanced materials for electrolysis. Jericho also owns and operates long-held producing oil and gas JV assets in Oklahoma which it is currently developing from cash flows in an effort to further increase production.
This news release contains certain “forward-looking information” and “forward-looking statements” (collectively, “forward-looking statements“) within the meaning of applicable securities laws. Such forward-looking statements are not representative of historical facts or information or current condition, but instead represent only Jericho’s beliefs regarding future events, plans or objectives, many of which, by their nature, are inherently uncertain and outside of Jericho’s control. Forward-looking statements are frequently characterized by words such as ”plan”, “expect”, “project”, “intend”, “believe”, “anticipate”, “estimate” and other similar words, or statements that certain events or conditions “may”, “will” or “may not” occur. Specifically, this news release contains forward-looking statements relating to, among others, the successful completion of the transfer of funds for the sale agreement of Jericho’s minority stake in Supercritical Solutions.
Forward-looking statements are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those anticipated in the forward-looking statements, which include, but are not limited to: regulatory changes; changes to the definition of, or interpretation of, foreign private issuer status; the impacts of COVID-19 and other infectious diseases; general economic conditions; industry conditions; current and future commodity prices and price volatility; significant and ongoing stock market volatility; currency and interest rate fluctuation; governmental regulation of the energy industry, including environmental regulation; geological, technical and drilling problems; unanticipated operating events; the availability of capital on acceptable terms; the need to obtain required approvals from regulatory authorities; liabilities and risks inherent in oil and gas exploration, development and production operations; liabilities and risks inherent in early stage hydrogen technology projects, energy storage, carbon capture and new energy systems; changes in government environmental objectives or plans; and the other factors described in Jericho’s public filings available at www.sedarplus.ca.
The forward-looking statements contained herein are based on certain key expectations and assumptions of Jericho concerning anticipated financial performance, business prospects, strategies, regulatory regimes, the sufficiency of budgeted capital expenditures in carrying out planned activities, the ability to obtain financing on acceptable terms, expansion of consumer adoption of the Company’s (or its subsidiaries’) technologies and products, results of DCC™ feasibility studies and the success of investments, all of which are subject to change based on market conditions, potential timing delays and other risk factors. Although Jericho believes that these assumptions and the expectations are reasonable based on information currently available to management, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the forward-looking statements. Investors should not place undue reliance on forward-looking statements.
Readers are cautioned that the foregoing lists are not exhaustive. The forward-looking statements contained in this news release are made as of the date of this news release, and Jericho does not undertake to update any forward-looking statements that are contained or referenced herein, except as required by applicable securities laws.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
PHILADELPHIA, PA and VANCOUVER, BC / ACCESS Newswire / January 29, 2025 / Jericho Energy Ventures Inc. (TSXV:JEV)(OTC PINK:JROOF)(FRA:JLM) (“Jericho”, “JEV” or the “Company”) is pleased to announce the closing of the second and final tranche of its previously announced non-brokered private placement (the “Financing”). The Company issued 12,255,000 units (the “Units”) at a price of $0.10 per unit in the second tranche of the Financing, generating gross proceeds of $1,225,500.
The total gross proceeds raised from the first and second tranches of the Financing amounted to $2,024,500.
Each Unit consists of one common share (each, a “Share“) and one share purchase warrant (each, a “Warrant“), with each Warrant entitling the holder to purchase one Share at a price of $0.20 for a period of two years from closing.
All securities issued under the second tranche of the Financing are subject to a four month and one day hold period expiring on May 30, 2025, under applicable securities laws in Canada and the rules of the TSX Venture Exchange (the “Exchange”). The Financing remains subject to final approval of the Exchange.
Two insiders of Jericho acquired an aggregate 1,700,000 Units in the second tranche of the Financing (the “Insider Participation”).
The Insider Participation is exempt from the valuation and minority shareholder approval requirements of Multilateral Instrument 61-101 Protection of Minority Securityholders in Special Transactions (“MI 61-101”) by virtue of the exemptions contained in Sections 5.5(a) and 5.7(1)(a) of MI 61-101 based on that the fair market value of such Insider Participation does not exceed 25% of Jericho’s market capitalization.
Net proceeds from the Financing will be used for general working capital purposes.
The securities referred to herein will not be or have not been registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements.
About Jericho Energy Ventures Jericho is an energy company positioned for the current energy transitions; owning, operating and developing both traditional hydrocarbon JV assets and advancing the low-carbon energy transition, with active investments in hydrogen. Our wholly owned subsidiary, Hydrogen Technologies, delivers breakthrough, patented, zero-emission boiler technology to the Commercial & Industrial heat and steam industry. We also hold strategic investments and board positions in California Catalysts (formerly H2U Technologies), a leading developer of advanced materials for electrolysis, and Supercritical Solutions, developing the world’s first, high pressure, ultra-efficient electrolyzer. Jericho also owns and operates long-held producing oil and gas JV assets in Oklahoma which it is currently developing from cash flows in an effort to further increase production.
This news release contains certain “forward-looking information” and “forward-looking statements” (collectively, “forward-looking statements“) within the meaning of applicable securities laws. Such forward-looking statements are not representative of historical facts or information or current condition, but instead represent only Jericho’s beliefs regarding future events, plans or objectives, many of which, by their nature, are inherently uncertain and outside of Jericho’s control. Forward-looking statements are frequently characterized by words such as ”plan”, “expect”, “project”, “intend”, “believe”, “anticipate”, “estimate” and other similar words, or statements that certain events or conditions “may”, “will” or “may not” occur. Specifically, this news release contains forward-looking statements relating to, among others, the Company’s ability to successfully complete the Financing, conditions to closing of the Financing, and the use of proceeds from the Financing.
Forward-looking statements are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those anticipated in the forward-looking statements, which include, but are not limited to: regulatory changes; changes to the definition of, or interpretation of, foreign private issuer status; the impacts of COVID-19 and other infectious diseases; general economic conditions; industry conditions; current and future commodity prices and price volatility; significant and ongoing stock market volatility; currency and interest rate fluctuation; governmental regulation of the energy industry, including environmental regulation; geological, technical and drilling problems; unanticipated operating events; the availability of capital on acceptable terms; the need to obtain required approvals from regulatory authorities; liabilities and risks inherent in oil and gas exploration, development and production operations; liabilities and risks inherent in early stage hydrogen technology projects, energy storage, carbon capture and new energy systems; changes in government environmental objectives or plans; and the other factors described in Jericho’s public filings available at www.sedarplus.ca.
The forward-looking statements contained herein are based on certain key expectations and assumptions of Jericho concerning anticipated financial performance, business prospects, strategies, regulatory regimes, the sufficiency of budgeted capital expenditures in carrying out planned activities, the ability to obtain financing on acceptable terms, expansion of consumer adoption of the Company’s (or its subsidiaries’) technologies and products, results of DCC™ feasibility studies and the success of investments, all of which are subject to change based on market conditions, potential timing delays and other risk factors. Although Jericho believes that these assumptions and the expectations are reasonable based on information currently available to management, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the forward-looking statements. Investors should not place undue reliance on forward-looking statements.
Readers are cautioned that the foregoing lists are not exhaustive. The forward-looking statements contained in this news release are made as of the date of this news release, and Jericho does not undertake to update any forward-looking statements that are contained or referenced herein, except as required by applicable securities laws.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
PHILADELPHIA, PA and VANCOUVER, BC / ACCESSWIRE / January 15, 2025 / Jericho Energy Ventures Inc. (TSXV:JEV)(OTC PINK:JROOF)(FRA:JLM) (“Jericho”, “JEV” or the “Company”) is pleased to announce the closing of the first tranche of its previously announced non-brokered private placement (the “Financing”). The Company issued 7,990,000 units (the “Units”) at a price of C$0.10 per unit, generating gross proceeds of C$799,000. A second and final tranche of the Financing is expected to close in short order.
Each Unit consists of one common share (each, a “Share“) and one share purchase warrant (each, a “Warrant“), with each Warrant entitling the holder to purchase one Share at a price of C$0.20 for a period of two years from closing.
All securities issued under the Financing are subject to a four month and one day hold period expiring on May 16, 2025, under applicable securities laws in Canada and the rules of the TSX Venture Exchange (the “Exchange”). The Financing remains subject to final approval of the Exchange.
In connection with the first tranche of the Financing, the Company paid a total of C$8,680 in cash finder’s fees and issued a total of 86,800 finders’ Warrants. The finders’ Warrants are non-transferable and have the same terms as the Warrants forming part of the Units.
An insider of Jericho purchased 1,000,000 Units in the Financing (the “Insider Participation”). The Insider Participation is exempt from the valuation and minority shareholder approval requirements of Multilateral Instrument 61-101 Protection of Minority Securityholders in Special Transactions (“MI 61-101”) by virtue of the exemptions contained in Sections 5.5(a) and 5.7(1)(a) of MI 61-101 based on that the fair market value of such Insider Participation does not exceed 25% of Jericho’s market capitalization.
Net proceeds from the Financing will be used for general working capital purposes.
The securities referred to herein will not be or have not been registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements.
About Jericho Energy Ventures
Jericho is an energy company positioned for the current energy transitions; owning, operating and developing both traditional hydrocarbon JV assets and advancing the low-carbon energy transition, with active investments in hydrogen. Our wholly owned subsidiary, Hydrogen Technologies, delivers breakthrough, patented, zero-emission boiler technology to the Commercial & Industrial heat and steam industry. We also hold strategic investments and board positions in California Catalysts (formerly H2U Technologies), a leading developer of advanced materials for electrolysis, and Supercritical Solutions, developing the world’s first, high pressure, ultra-efficient electrolyzer. Jericho also owns and operates long-held producing oil and gas JV assets in Oklahoma which it is currently developing from cash flows in an effort to further increase production.
This news release contains certain “forward-looking information” and “forward-looking statements” (collectively, “forward-looking statements“) within the meaning of applicable securities laws. Such forward-looking statements are not representative of historical facts or information or current condition, but instead represent only Jericho’s beliefs regarding future events, plans or objectives, many of which, by their nature, are inherently uncertain and outside of Jericho’s control. Forward-looking statements are frequently characterized by words such as ”plan”, “expect”, “project”, “intend”, “believe”, “anticipate”, “estimate” and other similar words, or statements that certain events or conditions “may”, “will” or “may not” occur. Specifically, this news release contains forward-looking statements relating to, among others, the Company’s ability to successfully complete the Financing, conditions to closing of the Financing, and the use of proceeds from the Financing.
Forward-looking statements are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those anticipated in the forward-looking statements, which include, but are not limited to: regulatory changes; changes to the definition of, or interpretation of, foreign private issuer status; the impacts of COVID-19 and other infectious diseases; general economic conditions; industry conditions; current and future commodity prices and price volatility; significant and ongoing stock market volatility; currency and interest rate fluctuation; governmental regulation of the energy industry, including environmental regulation; geological, technical and drilling problems; unanticipated operating events; the availability of capital on acceptable terms; the need to obtain required approvals from regulatory authorities; liabilities and risks inherent in oil and gas exploration, development and production operations; liabilities and risks inherent in early stage hydrogen technology projects, energy storage, carbon capture and new energy systems; changes in government environmental objectives or plans; and the other factors described in Jericho’s public filings available at www.sedarplus.ca.
The forward-looking statements contained herein are based on certain key expectations and assumptions of Jericho concerning anticipated financial performance, business prospects, strategies, regulatory regimes, the sufficiency of budgeted capital expenditures in carrying out planned activities, the ability to obtain financing on acceptable terms, expansion of consumer adoption of the Company’s (or its subsidiaries’) technologies and products, results of DCC™ feasibility studies and the success of investments, all of which are subject to change based on market conditions, potential timing delays and other risk factors. Although Jericho believes that these assumptions and the expectations are reasonable based on information currently available to management, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the forward-looking statements. Investors should not place undue reliance on forward-looking statements.
Readers are cautioned that the foregoing lists are not exhaustive. The forward-looking statements contained in this news release are made as of the date of this news release, and Jericho does not undertake to update any forward-looking statements that are contained or referenced herein, except as required by applicable securities laws.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
SOURCE: Jericho Energy Ventures Inc.
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