Jericho Clarifies October 7 News Release
Jericho Energy Ventures (OTC:JROOF) issued a clarification on October 8, 2025 that it executed a non-binding Letter of Intent (LOI) with Smartkem to explore a potential business combination.
The LOI is strictly non-binding: no definitive agreement has been signed, there has been no change in control, management, board, or asset transfers, and Jericho continues core oil and gas and energy‑infrastructure operations in Oklahoma.
Jericho affirmed it remains in full compliance with TSX Venture Exchange listing requirements and said that if an amalgamation proceeds the combined entity would list on NASDAQ and Jericho would delist from TSX‑V, but there is no assurance any transaction will be completed.
Jericho Energy Ventures (OTC:JROOF) ha emesso una precisazione l'8 ottobre 2025 indicando che ha stipulato una lettera di intenti non vincolante (LOI) con Smartkem per esplorare una potenziale fusione aziendale.
La LOI è strettamente non vincolante: nessun accordo definitivo è stato firmato, non si è verificato un cambiamento di controllo, gestione, consiglio o trasferimenti di asset, e Jericho continua le operazioni principali nel settore petrolio e gas e nell'infrastruttura energetica in Oklahoma.
Jericho ha confermato di rimanere pienamente conforme ai requisiti di quotazione della TSX Venture Exchange e ha dichiarato che se dovesse procedere una fusione la entità risultante sarebbe quotata su NASDAQ e Jericho sarebbe delistata dalla TSX-V, ma non esiste alcuna garanzia che una transazione venga completata.
Jericho Energy Ventures (OTC:JROOF) emitió una aclaración el 8 de octubre de 2025 de que ejecutó una Carta de Intención no vinculante (LOI) con Smartkem para explorar una posible fusión empresarial.
La LOI es estrictamente no vinculante: no se ha firmado ningún acuerdo definitivo, no ha habido cambio de control, gestión, junta o transferencias de activos, y Jericho continúa sus operaciones principales de petróleo y gas e infraestructura energética en Oklahoma.
Jericho afirmó que permanece en pleno cumplimiento de los requisitos de cotización de la TSX Venture Exchange y dijo que si avanza una fusión, la entidad combinada cotizaría en NASDAQ y Jericho se retiraría de TSX-V, pero no hay garantía de que se complete alguna transacción.
Jericho Energy Ventures (OTC:JROOF)은 2025년 10월 8일 스마트켐과 잠재적 사업 결합을 모색하기 위해 구속력 없는 의향서(LOI)를 체결했다는 해명을 발표했습니다.
LOI는 엄격히 구속력이 없습니다: 확정 계약이 서명되지 않았고, 지배권, 경영진, 이사회 또는 자산 이전의 변화가 없으며 Jericho는 오클라호마에서 핵심 석유 및 가스 및 에너지 인프라 사업을 계속합니다.
Jericho는 TSX 벤처 거래소 상장 요건을 계속 준수하고 있으며 만약 합병이 진행될 경우 합병 기업은 NASDAQ에 상장되고 Jericho는 TSX-V에서 상장폐지될 것이지만, 어떤 거래가 성사될지 확실하지 않다고 밝혔습니다.
Jericho Energy Ventures (OTC:JROOF) a publié une clarification le 8 octobre 2025 indiquant qu'elle avait signé une lettre d'intention non contraignante (LOI) avec Smartkem pour explorer une éventuelle fusion d'entreprise.
La LOI est strictement non contraignante : aucun accord définitif n'a été signé, il n'y a eu aucun changement de contrôle, de direction, de conseil ou de transferts d'actifs, et Jericho poursuit ses activités pétrolières et gazières et son infrastructure énergétique au Oklahoma.
Jericho a affirmé qu'elle reste en parfaite conformité avec les exigences d'inscription de la TSX Venture Exchange et a déclaré que si une fusion devait avoir lieu, l'entité combinée serait cotée sur le NASDAQ et Jericho se retirerait de TSX-V, mais il n'y a aucune garantie qu'une transaction soit menée à terme.
Jericho Energy Ventures (OTC:JROOF) gab am 8. Oktober 2025 eine Klarstellung bekannt, dass es eine unverbindliche Absichtserklärung (LOI) mit Smartkem unterzeichnet hat, um eine potenzielle Unternehmenszusammenführung zu prüfen.
Die LOI ist rein unverbindlich: keine endgültige Vereinbarung wurde unterzeichnet, es hat keine Veränderung von Kontrolle, Geschäftsführung, Vorstand oder Vermögenswerten gegeben, und Jericho führt die Kernbereiche Öl und Gas sowie Energieinfrastruktur in Oklahoma weiter.
Jericho bestätigte, dass es weiterhin alle Anforderungen des Listings der TSX Venture Exchange erfüllt, und sagte, dass wenn eine Verschmelzung erfolgt, das zusammengeschlossene Unternehmen an der NASDAQ notieren würde und Jericho sich von der TSX-V delisten würde, aber es gibt keine Garantie, dass eine Transaktion abgeschlossen wird.
Jericho Energy Ventures (OTC:JROOF) أصدر توضيحاً في 8 أكتوبر 2025 يفيد بأنه نفذ خطاب نوايا غير ملزم (LOI) مع Smartkem لاستكشاف إمكانية دمج تجاري.
يُعد خطاب النوايا غير ملزم تماماً: لم يتم توقيع اتفاق نهائي، ولم يحدث تغيّر في السيطرة أو الإدارة أو المجلس أو تحويل الأصول، وتستمر Jericho في تشغيل أنشطتها الأساسية في قطاع النفط والغاز والبنية التحتية للطاقة في أوكلاهوما.
وأكدت Jericho أنها لا تزال ملتزمة تماماً بمتطلبات إدراج TSX Venture Exchange وقالت إنه إذا تم المضي قدماً بعملية الاندماج فسيتم إدراج الكيان المشترك في NASDAQ وسيتم إدراج Jericho من TSX-V، لكن لا توجد ضمانات بأن تتم أي صفقة.
Jericho Energy Ventures (OTC:JROOF) 于 2025 年 10 月 8 日发表了澄清，表示已与 Smartkem 签署一份 非绑定意向书（LOI），以探索潜在的企业并购。
LOI 严格为非绑定：尚未签署任何正式协议，也未发生 控制权、管理层、董事会或资产转让的变动，Jericho 继续在俄克拉荷马州开展其核心石油和天然气及能源基础设施运营。
Jericho 确认其仍完全符合 TSX Venture Exchange 的上市要求，并表示如果并购继续进行，合并后的实体将登陆 NASDAQ，Jericho 将从 TSX-V 退市，但 不能保证任何交易能够完成。
- Executed a LOI to explore a potential business combination
- Continues core oil and gas and energy‑infrastructure operations in Oklahoma
- Remains in full compliance with TSX Venture Exchange listing requirements
- LOI is strictly non‑binding with no guarantee of a transaction
- No definitive agreement executed, creating execution uncertainty for shareholders
- Potential delisting from TSX‑V if amalgamation proceeds
VANCOUVER, BC / ACCESS Newswire / October 8, 2025 / Jericho Energy Ventures Inc. (TSX-V:JEV)(OTC:JROOF)(FRA:JLM) ("Jericho", "JEV" or the "Company") wishes to clarify its October 7, 2025 news release announcing the execution of a non-binding Letter of Intent (the "LOI") with Smartkem, Inc. The LOI is strictly non-binding and was entered into solely to explore the potential terms of a future business combination. No definitive agreement has been executed, and there has been no change in control, no change to management or the board, and no transfer or disposition of assets.
Jericho continues to conduct its core oil and gas operations and energy-infrastructure activities in Oklahoma. It remains in full compliance with TSX Venture Exchange ("TSX-V") listing requirements and confirms that if the amalgamation proceeds the resulting entity would be listed on the NASDAQ Exchange and Jericho would delist from the TSX-V. However, there is no assurance that a definitive agreement will be entered into or that any transaction will be completed.
About Jericho Energy Ventures (JEV)
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.
At JEV, our mission is clear: to innovate relentlessly, optimize energy resources, and power tomorrow's breakthroughs, one bold step at a time.
For more information, visit the JEV website or follow on LinkedIn.
Contact:
Brian Williamson
Chief Executive Officer
T: 604-343-4534
Email: 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 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 LOI with Smartkem.
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.
SOURCE: Jericho Energy Ventures Inc.
View the original press release on ACCESS Newswire
FAQ
What did Jericho (OTC:JROOF) clarify on October 8, 2025 about the LOI with Smartkem?
Will Jericho (OTC:JROOF) immediately change management or transfer assets after the October 7–8 LOI?
What happens to Jericho (OTC:JROOF) listing if the amalgamation proceeds?
Does the October 8, 2025 clarification guarantee the transaction between Jericho (OTC:JROOF) and Smartkem will close?
Is Jericho (OTC:JROOF) still operating its Oklahoma energy business after the LOI?
Is Jericho (OTC:JROOF) in compliance with exchange listing rules after the LOI announcement?
