Jericho Energy Ventures (TSXV:JEV) Announces Letter of Intent with Comstock Holding Companies (Nasdaq:CHCI) to Advance AI Data Center Campus Development Leveraging Its Energy Infrastructure; Comstock to Invest USD$1.5 Million in Private Placement

Jericho Energy Ventures (TSXV:JEV) entered an LOI with Comstock Holding Companies (Nasdaq:CHCI) dated February 11, 2026, to form a joint venture to acquire and develop land for AI data center campuses in Oklahoma.

Rhea-AI Summary

Jericho Energy Ventures (TSXV:JEV) entered an LOI with Comstock Holding Companies (Nasdaq:CHCI) dated February 11, 2026, to form a joint venture to acquire and develop land for AI data center campuses in Oklahoma.

Comstock agreed to an initial private placement of USD$1.5 million (25,684,932 Units at CAD$0.08) and is expected to contribute USD$6 million to the JV; closing is subject to TSXV approval and definitive documents.

Positive

• Comstock investment of USD$1.5M via private placement
• Unit price set at CAD$0.08 (25,684,932 Units)
• Planned JV capital contribution of USD$6M from Comstock
• Proceeds earmarked to accelerate flagship AI data center campus development
• Board addition — Comstock CEO expected to join Jericho board pending Exchange approval

Negative

• Dilution risk from issuance of 25,684,932 Units plus warrants
• Warrant overhang — warrants exercisable at CAD$0.20 for 24 months
• Transaction conditional on TSXV approval and definitive agreements; not assured
• Securities hold — four-month statutory hold period limiting immediate liquidity

Argus Feb 12 session

-0.71% close to close Open Argus

Details

News Market Reaction – CHCI

On Feb 12, the day this news came out, CHCI closed 0.71% below the previous close.

Data tracked by StockTitan Argus for the Feb 12 session.

Key Figures

Private placement size: USD$1.5 million Units issued: 25,684,932 units Unit price: CAD$0.08 per unit +5 more

Private placement size

USD$1.5 million

Initial non-brokered private placement into Jericho by Comstock

Units issued

25,684,932 units

Private placement units at CAD$0.08 per unit

Unit price

CAD$0.08 per unit

Pricing of each Unit in Jericho private placement

Warrant exercise price

CAD$0.20 per share

Exercise price for Warrant Shares in the Financing

Warrant term

24 months

Exercise period from issuance for each Warrant

Additional units option

20,000,000 Units

Optional additional Units Jericho may offer on same terms

JV capital contribution

USD$6 million

Expected Comstock contribution into newly formed JV

Hold period

4 months

Canadian securities law hold period for Financing securities

Historical Context

5 past events · Latest: Dec 04

5 events

1. Dec 04

   Tenant opening

   24h Move

   +3.4%

   Starbucks opening at Loudoun Station, expanding retail presence in managed portfolio.

2. Nov 17

   Leasing announcement

   24h Move

   -16.4%

   Booz Allen relocating HQ to Reston Station with new office space commitments.

3. Nov 13

   Q3 2025 earnings

   24h Move

   -8.9%

   Q3 2025 results with higher revenue but lower net income and EPS versus prior year.

4. Oct 08

   Tenant lease

   24h Move

   +2.3%

   D1 Training leasing 4,360 sq ft at Loudoun Station, adding wellness tenant mix.

5. Sep 24

   Acquisition agreement

   24h Move

   -2.2%

   Purchase agreement for 400+ unit Rockville multifamily property via IVP platform.

24h Move is the share-price change in the day after each event; other market factors may also have contributed.

Key Terms

letter of intent, private placement, share purchase warrant, exercise price, +2 more

6 terms

letter of intent financial

"announced that it has entered into a letter of intent (the "LOI"), dated"

A letter of intent is a document that shows an agreement in principle between parties to work towards a future deal or transaction. It outlines their intentions and key terms, acting like a roadmap before a formal contract is signed. For investors, it signals serious interest and helps clarify expectations early in the process.

private placement financial

"non-brokered private placement (the "Financing") for gross proceeds of"

A private placement is a sale of securities directly to a selected group of investors, typically institutions or accredited investors, instead of through a public offering. It lets a company raise money faster and with fewer regulatory steps; for existing shareholders it matters because the newly issued shares, often sold at a discount, increase the share count and can dilute their ownership.

share purchase warrant financial

"and one-half (½) of one share purchase warrant (each, a "Warrant"). Each two"

A share purchase warrant is a tradable instrument that gives its holder the right, but not the obligation, to buy a company’s shares at a fixed price within a set time frame. Think of it like a coupon to buy a product at today’s price later on; warrants matter to investors because exercising them can increase the number of shares outstanding (which can lower existing share value) and they offer a leveraged way to benefit if the stock rises above the warrant price.

exercise price financial

"Warrants will entitle the holder to acquire one (1) variable voting share ... at an exercise price of CAD$0.20"

The exercise price is the fixed amount at which you can buy or sell an asset, like a stock, when using an options contract. It matters because it helps determine whether exercising the option will be profitable or not, depending on the current market price. Think of it as the set price you agree on today to buy or sell later.

hold period regulatory

"issued under the Financing will be subject to a four month hold period under applicable"

A hold period is a specific span of time during which an investor is required or expected to keep a security or asset and cannot freely sell it or realize its value. It matters because it limits liquidity and can affect tax treatment, risk exposure and timing of gains or losses—like a cooling-off or fixed-term commitment that prevents you from quickly cashing out even if market conditions change.

united states securities act of 1933 regulatory

"not been registered under the United States Securities Act of 1933, as amended"

A federal law that requires companies to provide clear, written information when they sell stocks, bonds or other investment securities to the public, and that outlaws misleading claims or fraud in those offerings. It matters to investors because it forces sellers to lay out the key facts — like a detailed menu for an unfamiliar restaurant — so buyers can compare options, understand risks, and rely on a legal framework if important information is omitted or deceptive.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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TULSA, OK / ACCESS Newswire / February 12, 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, is pleased to announce that it has entered into a letter of intent (the "LOI"), dated February 11, 2026, with Comstock Holding Companies, Inc. (Nasdaq:CHCI) ("Comstock"), pursuant to which the parties 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.

Comstock is a diversified real estate organization with a 40+ year history of investing in, developing, acquiring, owning and operating virtually all types of residential, commercial, and mixed-use real estate, while providing supply-chain and management services to institutional investors, lenders, owners and municipalities with interests in real estate.

As part of the proposed joint venture, Comstock has agreed to invest in Jericho through an initial non-brokered private placement (the "Financing") for gross proceeds of USD$1.5 million, subject to applicable regulatory approvals, including acceptance by the TSX Venture Exchange (the "Exchange").

The Financing will consist of 25,684,932 units priced at CAD$0.08 per unit (the "Units"). Each Unit will be 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"). Each two (2) Warrants will entitle the holder to acquire one (1) variable voting share (each, a "Warrant Share") at an exercise price of CAD$0.20 per Warrant Share, exercisable for a period of 24 months from the date of issuance. In addition, the Company may, at its discretion and subject to investor demand, offer up to an additional 20,000,000 Units under the private placement on the same terms as Comstock's investment.

Comstock's Chief Executive Officer, Chris Clemente, is expected to join Jericho's board of directors following receipt of 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.

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 with surface land interests, supporting the development of large-scale AI data center campuses and related digital infrastructure. Comstock is currently expected to contribute USD$6 million into the newly formed JV. In addition, it will have the opportunity, at its discretion, to either participate in a subsequent private placement financing to Jericho or cause an indirect capital contribution from the JV to be distributed to Jericho.

Brian Williamson, CEO of Jericho, commented: "We are pleased to welcome Comstock, a leading real estate investor and developer, as a major shareholder and strategic partner of JEV. Their investment validates the quality of our energy assets and our strategy to develop premier AI data center campuses integrated within our robust Oklahoma energy infrastructure. This partnership strengthens our platform and positions the Company well for its next phase of growth."

Chris Clemente, CEO of Comstock, commented: "We are excited to collaborate with Brian Williamson and the Jericho team. Comstock and Jericho will be focused on accelerating the planning of a world class AI data center campus and master plan on land indirectly controlled by Jericho thereby creating significant value for all stakeholders."

Closing of the Financing is subject to negotiation of certain definitive terms and conditions, including Exchange approval. The securities issued under the Financing will be subject to a four month hold period under applicable securities laws in Canada and the rules of the Exchange. The Financing is expected to close following conditional approval of the Exchange. No finders' fees or brokers' commissions will be paid in connection with the Financing. The Joint Venture and related transactions are subject to certain conditions, and there can be no assurances that any or all of such transactions will be consummated.

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 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. For more information, please visit jerichoenergyventures.com.

About Comstock

Founded in 1985, Comstock is a leading asset manager, developer, and operator of mixed-use and transit-oriented properties in the Washington, D.C. region. With a managed portfolio comprising approximately 10 million square feet at full build-out and including stabilized and development assets strategically located at key Metro stations, Comstock is at the forefront of the urban transformation taking place in the fastest-growing segments of one of the nation's best real estate markets. Comstock's developments include some of the largest and most prominent mixed-use and transit-oriented projects in the mid-Atlantic region, as well as multiple large-scale public-private partnership developments. For more information, please visit Comstock.com.

Contact:
Brian Williamson, CEO, or
Adam Rabiner, Investor Relations
Jericho Energy Ventures Inc.
T: +1 604-343-4534
E: investorrelations@jerichoenergyventures.com

Forward-Looking Statements

This news release contains certain "forward-looking information" and "forward-looking statements" (collectively, "forward-looking statements") within the meaning of applicable Canadian securities laws. Forward-looking statements are not historical facts but reflect the current expectations of Jericho Energy Ventures Inc. ("Jericho") regarding future events, performance, or results, and are often identified by words such as "expect," "anticipate," "intend," "believe," "estimate," "may," "will," "could," or similar expressions.

Forward-looking statements involve known and unknown risks, uncertainties, and other factors that may cause actual results to differ materially from those expressed or implied. Such factors include regulatory approvals, general economic conditions, industry risks, access to capital, technological development risks, and those described in Jericho's public filings at www.sedarplus.ca.

Forward-looking statements are based on reasonable assumptions as of the date hereof, but Jericho cannot guarantee future results. Readers are cautioned not to place undue reliance on such statements. Except as required by law, Jericho undertakes no obligation to update or revise them.

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.

View the original press release on ACCESS Newswire

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What is Comstock (CHCI) investing in Jericho on February 11, 2026?

Comstock agreed to invest USD$1.5 million in a non-brokered private placement. According to Jericho, the Financing is 25,684,932 Units at CAD$0.08 per Unit with attached warrants exercisable at CAD$0.20 for 24 months.

How will the USD$1.5M financing by Comstock affect Jericho (TSXV:JEV) shareholder dilution?

The Financing issues 25,684,932 new Units and warrants, which will dilute existing shareholders. According to Jericho, additional up to 20,000,000 Units may be offered, increasing potential dilution depending on uptake.

What are the key JV funding commitments between Jericho and Comstock for the AI data center project?

Comstock is expected to contribute USD$6 million into the joint venture to develop AI campus land. According to Jericho, Comstock may also participate in further financings or enable JV distributions back to Jericho.

When will Comstock CEO join Jericho's board and what approval is required?

Comstock CEO Chris Clemente is expected to join Jericho's board following TSXV approval of the Financing. According to Jericho, board appointment is contingent on Exchange acceptance and definitive documentation.

What are the closing conditions and timing for the Jericho–Comstock Financing announced February 12, 2026?

Closing is subject to negotiation of definitive terms and conditional TSXV approval and is not guaranteed. According to Jericho, securities will be subject to a four-month hold and no finders' fees will be paid.