Business
Jericho Energy Ventures (TSXV: JEV) Closes USD$1.5 Million Strategic Investment from Comstock Holding Companies (Nasdaq: CHCI)
Jericho-Comstock Move to Formalize JV to Acquire and Develop Prime Land Integrating Jericho's Energy Infrastructure for Large-Scale AI Data Centers TULSA, OK
About this update from Comstock Holding Companies, Inc.
[{"type":"text","content":"Jericho-Comstock Move to Formalize JV to Acquire and Develop Prime Land Integrating Jericho's Energy Infrastructure for Large-Scale AI Data Centers TULSA, OK / ACCESS Newswire / February 23, 2026 / Jericho Energy Ventures Inc. (TSXV:JEV)(OTCID:JROOF)(FRA:JLM) (\"Jericho\", \"JEV\" or the \"Company\"), an energy innovation company positioned at the nexus of energy and AI infrastructure, further to its news release dated February 12, 2026, announces that it has completed its non-brokered private placement (the \"Financing\") with Comstock Holding Companies, Inc. (Nasdaq:CHCI) (\"Comstock\") for gross proceeds of USD$1.5 million (approximately CAD$2.055 million).The Financing consisted of 25,684,932 units priced at CAD$0.08 per unit (the \"Units\"). Each Unit is comprised of one (1) variable voting share of the Company (each, a \"Unit Share\") and one-half (½) of one share purchase warrant (each, a \"Warrant\"). With each two warrants entitling the holder to acquire one (1) variable voting share (each, a \"Warrant Share\") at an exercise price of $0.20 per Warrant Share, exercisable for a period of 24 months from the date of issuance.All securities issued under the Financing are subject to a four month and one day hold period expiring on June 21, 2026, under applicable securities laws in Canada and the rules of the TSX Venture Exchange (the \"Exchange\"). The Financing has received conditional approval and remains subject to final approval of the Exchange.Comstock's Chief Executive Officer, Chris Clemente, is expected to join Jericho's board of directors following receipt of final Exchange approval.Net proceeds from the Financing will be used to accelerate development of Jericho's planned flagship AI data center campus and related energy-infrastructure in Oklahoma and for general working capital needs. No finders' fees or brokers' commissions will be paid in connection with the Financing.Pursuant to a letter of intent dated February 11, 2026, Jericho and Comstock have committed to establish a strategic partnership (the \"Joint Venture\" or \"JV\") focused on the acquisition and development of land in and around Jericho's existing energy assets in Oklahoma. When consummated, the joint venture is expected to focus on assembling a portfolio of strategically located land that integrates Jericho's subsurface energy infrastructure assets...