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Smartkem and Jericho Energy Ventures Extend Letter Of Intent for Proposed All-Stock Merger to Form U.S.-Owned, AI-Focused Infrastructure Company
Smartkem, Inc. (Nasdaq: SMTK), ("Smartkem"), a company developing a new class of organic semiconductor technology, today announced that it has agreed to a 60-day extension of its non-binding Letter of Intent ("LOI") for a proposed all-stock business combination (the "Proposed Transaction") with Jericho Energy Ventures Inc. (TSX-V: JEV, OTC: JROOF) ("Jericho" or "JEV"), an energy innovation company. The amendment to the LOI also extends the deadline by which Smartkem is required to invest in Jeri
About this update from Jericho Energy Ventures Inc
[{"type":"text","content":"Proposed all-stock transaction aims to align JEV's scalable energy platform with Smartkem's semiconductor innovations to power next generation AI data centers","length":166,"tagName":"p"},{"type":"text","content":"MANCHESTER, England, Nov. 20, 2025 /PRNewswire/ -- Smartkem, Inc. (Nasdaq: SMTK), ("Smartkem"), a company developing a new class of organic semiconductor technology, today announced that it has agreed to a 60-day extension of its non-binding Letter of Intent ("LOI") for a proposed all-stock business combination (the "Proposed Transaction") with Jericho Energy Ventures Inc. (TSX-V: JEV, OTC: JROOF) ("Jericho" or "JEV"), an energy innovation company. The amendment to the LOI also extends the deadline by which Smartkem is required to invest in Jericho to prevent Jericho from having the right to terminate the LOI to December 31, 2025. The other terms of the LOI remain unchanged.","length":733,"tagName":"p"},{"type":"image","alt":"Logo SmartKem","displaySize":"","headline":null,"caption":"Logo SmartKem","className":"","disableSlideshowImg":false,"size":{"original":{"width":400,"height":66,"url":"https://media.zenfs.com/en/prnewswire.com/151c20a24222a33dfc05de3299cf6c94"},"resized":{"url":"https://s.yimg.com/ny/api/res/1.2/J.BhQtf9gvhkPdHmh4wNoQ--/YXBwaWQ9aGlnaGxhbmRlcjt3PTcwNTtoPTExNjtjZj13ZWJw/https://media.zenfs.com/en/prnewswire.com/151c20a24222a33dfc05de3299cf6c94","width":400,"height":66}}},{"type":"text","content":"As previously disclosed, if completed, the Proposed Transaction would establish a Nasdaq-listed, U.S.-owned and controlled AI infrastructure company that integrates low-cost domestic energy with advanced semiconductor packaging and materials to support the rapidly growing demand for AI compute capacity.","length":304,"tagName":"p"},{"type":"text","content":"EXECUTIVE COMMENTARY","length":20,"tagName":"p"},{"type":"text","content":"Ian Jenks, Chairman & CEO of Smartkem "We are pleased to extend the LOI as both teams are committed to working towards a transaction that could unlock meaningful value across the rapidly converging energy and AI sectors. We believe the opportunity to integrate Smartkem's world-class semiconductor materials with JEV's scalable energy platform represents a compelling strategic path forward."","length":41...