Jericho Energy Ventures (TSXV: JEV) Closes USD$1.5 Million Strategic Investment from Comstock Holding Companies (Nasdaq: CHCI)

Rhea-AI Summary

Jericho Energy Ventures (TSXV: JEV) closed a non-brokered private placement with Comstock Holding Companies (Nasdaq: CHCI) for USD $1.5 million via 25,684,932 units at CAD $0.08 each, with warrants exercisable at $0.20 for 24 months.

Proceeds will fund Jericho's planned flagship AI data center campus and energy infrastructure in Oklahoma. Comstock is expected to contribute USD $6 million to a proposed JV and Comstock CEO Chris Clemente is expected to join Jericho's board, all subject to final Exchange approval and other conditions.

Positive

• Financing secured: USD $1.5 million gross proceeds
• JV capital commitment: Comstock expected to contribute USD $6 million
• Board participation: Comstock CEO expected to join Jericho board

Negative

• Potential dilution from 25,684,932 units and exercisable warrants
• Conditional transactions: Financing and JV remain subject to final Exchange approval and other conditions
• Hold period: securities subject to four-month-and-one-day hold expiring June 21, 2026

Key Figures

Private placement proceeds: USD$1.5 million Private placement proceeds (CAD): CAD$2.055 million Units issued: 25,684,932 units +5 more

8 metrics

Private placement proceeds USD$1.5 million Gross proceeds from Comstock investment into Jericho

Private placement proceeds (CAD) CAD$2.055 million Approximate CAD equivalent of USD$1.5 million financing

Units issued 25,684,932 units Units in Jericho private placement with Comstock

Unit price CAD$0.08 per unit Pricing for each Jericho unit in the financing

Warrant exercise price $0.20 per Warrant Share Exercise price for Jericho share purchase warrants

Warrant term 24 months Exercise period from date of issuance for Jericho warrants

Hold period expiry June 21, 2026 End of four month and one day hold on securities

Planned JV contribution USD$6 million Comstock expected contribution into Jericho–Comstock JV

Market Reality Check

Price: $11.50 Vol: Volume 11,087 is at a rel...

normal vol

$11.50 Last Close

Volume Volume 11,087 is at a relative level of 1.22x the 20-day average. normal

Technical Shares at $11.54 are trading below the 200-day MA of $12.83, and about 39.23% below the 52-week high.

Peers on Argus

Real estate peers show mixed moves, with OPAD and DOUG down and STHO slightly up...

1 Up 1 Down

Real estate peers show mixed moves, with OPAD and DOUG down and STHO slightly up. Momentum scanner flags OPAD sharply down and ASPS up, indicating stock-specific, not broad sector, drivers.

Historical Context

5 past events · Latest: Feb 19 (Positive)

Pattern 5 events

Date	Event	Sentiment	Move	Catalyst
Feb 19	HQ lease announcement	Positive	+0.3%	45,000 sq ft Amentum lease at Reston Station boosting mixed-use hub.
Feb 12	AI JV & placement	Positive	-0.7%	LOI for AI data center JV with Jericho and USD$1.5M investment.
Feb 11	Lease to Razor’s Edge	Positive	-1.8%	Razor’s Edge leasing ~15,000 sq ft at The Row at Reston Station.
Dec 04	Retail opening	Positive	+3.4%	Starbucks opening at Loudoun Station expanding transit‑oriented amenities.
Nov 17	Major HQ relocation	Positive	-16.4%	Booz Allen planning HQ move to The Row at Reston Station.

Pattern Detected

Recent development and leasing news has often seen mixed or negative next-day reactions, including a notable selloff on a major Reston headquarters move.

Recent Company History

Over the past several months, Comstock has focused on expanding its Reston and Loudoun transit‑oriented developments, highlighted by leases with Amentum and Razor’s Edge and a Starbucks opening at Loudoun Station. A major headquarters relocation by Booz Allen to Reston was accompanied by a -16.38% move the next day, showing that even seemingly positive development milestones can coincide with volatility. The February USD$1.5 million Jericho AI campus LOI also saw a modest negative reaction of -0.71% the following session.

Market Pulse Summary

This announcement formalizes Comstock’s financial commitment to Jericho’s AI data center strategy vi...

Analysis

This announcement formalizes Comstock’s financial commitment to Jericho’s AI data center strategy via a USD$1.5 million private placement and an expected USD$6 million JV contribution. For Comstock, it adds exposure to Oklahoma land assembled around existing energy assets. Historically, development and leasing news has produced mixed stock reactions, so investors may track progress on JV formation, regulatory approvals, and concrete project milestones on the planned AI data center campuses.

Key Terms

non-brokered private placement, share purchase warrant, hold period, letter of intent, +3 more

7 terms

non-brokered private placement financial

"announces that it has completed its non-brokered private placement (the "Financing")"

A non-brokered private placement is when a company raises money by selling securities (such as shares or bonds) directly to a small group of chosen investors without using a broker or dealer as a middleman. For investors it matters because it can provide faster, lower-cost access to new investment opportunities but may bring higher risk, less liquidity and potential dilution of existing holdings compared with public offerings.

share purchase warrant financial

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

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.

hold period regulatory

"are subject to a four month and one day hold period expiring on June 21, 2026"

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.

letter of intent financial

"Pursuant to a letter of intent dated February 11, 2026, Jericho and Comstock have committed"

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.

joint venture financial

"to establish a strategic partnership (the "Joint Venture" or "JV") focused on the acquisition"

A joint venture is when two or more companies team up to work on a specific project or business idea, sharing both the risks and the rewards. It’s like friends starting a lemonade stand together—each contributes resources and they split the profits, making it easier to succeed than going alone.

United States Securities Act of 1933 regulatory

"registered under the United States Securities Act of 1933, as amended, and may not be offered"

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.

exemption from registration regulatory

"may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements"

Exemption from registration means that certain financial instruments or offerings are not required to go through a formal registration process with regulatory authorities. This can make it easier and faster for companies to raise money or offer securities to investors. For investors, it matters because it may affect how much information is available about the investment and the level of oversight involved.

AI-generated analysis. Not financial advice.

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 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.

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

How much did Comstock invest in Jericho (TSXV:JEV) on February 23, 2026?

Comstock invested USD $1.5 million via a private placement in Jericho. According to the company, the Financing issued 25,684,932 units at CAD $0.08 and included warrants exercisable at $0.20 for 24 months.

What are the terms of the warrants issued to Comstock in the JEV financing?

Each two warrants convert into one share at an exercise price of $0.20 for 24 months. According to the company, each unit included one-half warrant and warrants are exercisable for 24 months from issuance.

What will Jericho (TSXV:JEV) use the USD $1.5 million financing for?

Proceeds will accelerate development of Jericho's flagship AI data center campus and energy infrastructure. According to the company, net proceeds target Oklahoma development and general working capital needs.

What is Comstock's planned contribution to the joint venture with Jericho?

Comstock is expected to contribute USD $6 million into the newly formed joint venture. According to the company, the JV will focus on assembling land integrating subsurface energy assets with surface land for AI data campuses.

Will Comstock gain board representation at Jericho after the financing?

Yes, Comstock CEO Chris Clemente is expected to join Jericho's board following final Exchange approval. According to the company, the appointment is contingent on receipt of that approval.

Are the financing and joint venture with Comstock final and unconditional?

No, both the Financing and JV remain conditional and are not guaranteed to close. According to the company, transactions are subject to final Exchange approval and other customary conditions.