Jericho Energy Welcomes Comstock Holding Companies CEO Chris Clemente to Board of Directors

Rhea-AI Summary

Jericho Energy Ventures (JEV) appointed Christopher Clemente, Chairman and CEO of Comstock Holding Companies (Nasdaq:CHCI), to its Board of Directors effective March 2, 2026.

Comstock invested US$1.5 million via a private placement and, per a Feb 11, 2026 letter of intent, the parties will pursue a joint venture to acquire and develop land around Jericho's Oklahoma energy assets.

Positive

• Christopher Clemente appointed to Jericho board effective March 2, 2026
• Comstock made a US$1.5 million private placement in Jericho
• LOI dated Feb 11, 2026 to pursue a JV for land acquisition near Oklahoma assets

Negative

• Proposed JV remains at letter of intent stage and is not a finalized agreement
• No definitive financial terms or timetable for the JV beyond the LOI were disclosed

TULSA, OK / ACCESS Newswire / March 2, 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 the appointment of Christopher Clemente, Chairman and Chief Executive Officer of Comstock Holding Companies, Inc. (Nasdaq:CHCI) ("Comstock"), to its Board of Directors, effective March 2, 2026.

Mr. Clemente founded Comstock in 1985 and has guided its evolution from a homebuilder into a commercial real estate industry leader. Through his thoughtful leadership, Comstock has established itself as one of the preeminent asset managers, developers, and operators in the Mid-Atlantic U.S. region, providing a broad spectrum of real estate services to their rapidly growing managed portfolio. Mr. Clemente has also led Comstock to execute multiple successful large-scale public-private partnerships and strategic investments in real estate ventures.

Brian Williamson, CEO of Jericho, commented: "Chris brings a rare combination of public company leadership, capital markets expertise, and deep experience in large-scale real estate and infrastructure development. His track record of building and scaling platforms, executing strategic partnerships, and aligning long-term shareholders makes him an outstanding addition to our Board as we advance our AI-driven energy and infrastructure initiatives."

Christopher Clemente, CEO of Comstock, commented: "Jericho Energy is strategically positioned at the intersection of domestic energy development and next-generation data infrastructure. I look forward to working closely with Brian and the Board to support the Company's AI land growth strategy and help unlock long-term value for shareholders."

Comstock recently became a significant shareholder of Jericho through a US$1.5 million private placement investment, further aligning the two companies' long-term strategic interests. Pursuant to a letter of intent dated February 11, 2026, Jericho and Comstock have agreed to pursue the formation of a strategic partnership (the "Joint Venture" or "JV") focused on the acquisition, aggregation and development of land in and around Jericho's existing energy asset base in Oklahoma. The proposed JV is intended to leverage Jericho's energy infrastructure footprint and Comstock's extensive real estate development expertise to advance high-value infrastructure and energy-related projects in the region.

About Jericho Energy

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

Who is Christopher Clemente and what role did he take at Jericho (JEV) on March 2, 2026?

He is Chairman and CEO of Comstock (Nasdaq:CHCI) and was appointed to Jericho's Board effective March 2, 2026. According to the company, his experience includes decades of real estate development, asset management and public company leadership.

How much did Comstock (CHCI) invest in Jericho (JEV) and what does that mean for shareholders?

Comstock invested US$1.5 million in a private placement in Jericho. According to the company, the investment aligns strategic interests and signals a committed shareholder relationship between Comstock and Jericho.

What is the February 11, 2026 letter of intent between Jericho (JEV) and Comstock (CHCI)?

The LOI, dated Feb 11, 2026, sets out plans to pursue a JV for acquiring and developing land around Jericho's Oklahoma assets. According to the company, the JV would combine Jericho's energy footprint with Comstock's real estate expertise.

Is the Jericho–Comstock joint venture finalized and when will it start operations?

No, the partnership is currently at the letter of intent stage and is not finalized. According to the company, the parties have agreed to pursue formation of the JV but provided no definitive start date or binding terms.

How might Christopher Clemente's appointment affect Jericho's AI and infrastructure strategy?

His appointment adds public-company leadership and real estate development experience to Jericho's board. According to the company, Clemente is expected to support the firm's AI land growth strategy and strategic infrastructure initiatives.