Annun of Jericho Energy Ventures – GuruFocus.com
NEWTOWN, PA, and VANCOUVER, BC/ACCESSWIRE/June 27, 2022/ Jericho Energy Ventures Inc. (TSXV: JEV, Financial)(OTC PINK:JROOF)(Frankfurt:JLM0) (“Jericho” or “JEV” or the “Company”) today announced that its amended shareholding structure, approved at the annual general and special meeting of shareholders held on June 23, 2022, will be reflected in transactions from the opening of the market on the TSX Venture Exchange (“TSXV”) on June 29, 2022.
The change in share structure was implemented to maintain Jericho’s status as a foreign private issuer and reduce compliance costs. The Common Shares (“Common Shares”) and Variable Voting Shares (the “Variable Voting Shares” and, together with the Common Shares, the “Shares”) will trade under the single and current symbol, “JEV “. The shares traded on TSXV will bear the number CUSIP/ISIN 476339205/CA4763392053 and will be designated, for trading purposes, under the single designation of “Common and Variable Voting Shares” of Jericho.
At its annual and special general meeting of shareholders held on June 23, 2022, the shareholders of Jericho approved the amendment to its articles of association (the “Amendments of Articles”), as further described in its proxy statement. management dated May 20, 2022 (the “Circular”), in order, among other things:
- create and define the terms of a new class of Jericho shares, namely Variable Voting Shares, including constraints on who can hold Variable Voting Shares, which are limited to US residents, and the application of accompanying conditions to these actions;
- change the terms of the Common Shares, including, without limitation, including constraints on who may hold Common Shares, which is limited to non-residents of the United States, and applying matching terms to such shares; and
- implement a conversion mechanism whereby common shares held by residents of the United States will be automatically converted into Variable Voting Shares on a one-for-one basis without further action by the Company or the holder , and vice versa.
Details of the Section Amendments can be found in the Circular, available on SEDAR at www.sedar.com under Jericho’s profile.
A copy of the Circular is, and a copy of the Company’s articles of association (as amended by the Amendments to the Articles) will be available on SEDAR at www.sedar.com under Jericho’s profile.
About Jericho Energy Ventures
Jericho Energy Ventures (JEV) is an energy company positioned for today’s energy transitions; owning, operating and developing both traditional hydrocarbon joint venture assets and advancing the low-carbon energy transition, with active investments in hydrogen. Our wholly owned subsidiary, Hydrogen Technologiesprovides revolutionary, patented, zero-emissions boiler technology to the approximately $30 billion commercial and industrial heat and steam industry.* We also hold strategic investments and board positions in H2U Technologies (a revolutionary low-cost electrocatalyst and electrolyzer platform) and Supercritical Solutions (development of the world’s first ultra-efficient high-pressure electrolyser). Jericho also owns and operates long-standing oil and gas production joint venture assets in Oklahoma, which it is currently developing from cash flow in an effort to further increase production in a commodity price environment. very high raw materials.
Director of IR
Jericho Energy Ventures
This press release contains certain “forward-looking information” and “forward-looking statements” (collectively, “forward-looking statements”) within the meaning of applicable securities laws. These forward-looking statements are not representative of historical facts or information or of the current condition, but represent only Jericho’s beliefs regarding future events, plans or objectives, many of which, by their nature, are inherently uncertain and beyond the control of Jericho. Forward-looking statements are often characterized by words such as “plan”, “expect”, “project”, “intend”, “believe”, “anticipate”, “estimate” and other words similar, or statements that certain events or conditions “may”, “will” or “cannot” occur. Specifically, this press release contains the following forward-looking statements, among others: Trading of the Shares on the TSXV and maintenance of the Company’s foreign private issuer status.
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, including, but not limit: regulatory changes; changes to the definition 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 continued stock market volatility; currency and interest rate fluctuations; government regulation of the energy industry, including environmental regulation; geological, engineering and drilling issues; unforeseen 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, energy storage, carbon capture and new energy systems; changes in government environmental objectives or plans; and other factors described in Jericho’s public records available at www.sedar.com.
The forward-looking statements contained herein are based on certain key Jericho expectations and assumptions regarding expected financial performance, business prospects, strategies, regulatory regimes, the sufficiency of budgeted capital expenditures to carry out planned activities, the ability to obtain financing on acceptable terms, the expansion of consumer adoption of the Company’s (or its subsidiaries’) technologies and products, and the success of investments, all of which are subject to change based on market conditions, possible delays and other risk factors. Although Jericho believes that these assumptions and expectations are reasonable based on information currently available to management, these 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 above lists are not exhaustive. The forward-looking statements contained in this press release are made as of the date of this press release, and Jericho does not undertake to update any forward-looking statements contained or referenced herein, except as required by applicable securities laws. require it.
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.
*Grand View Market Research, 2020
THE SOURCE: Jericho Energy Ventures Inc.
See the source version on accesswire.com:
https://www.accesswire.com/706656/Jericho-Energy-Ventures-Announces-Trading-of-Common-Shares-and-Variable-Voting-Shares-Under-Single-Trading-Symbol-to-Commence-as- of-Market-Open-on-TSX-Venture Exchange-June-29-2022