Jericho Oil Closes C$2.27 Million Private Placement
January 02 2018 - 12:18PM
Further to its news release dated Dec. 28, 2017, Jericho Oil
Corporation (“Jericho”) (TSX-V:JCO) (OTC PINK:JROOF) has closed a
non-brokered private placement (the “Offering”) of 3,784,946 units
(“Units”) at $0.60 per unit for proceeds of $2,270,968. Each Unit
is comprised of one common share (a “Share”) and one-half warrant
(a “Warrant”) with each full Warrant being exercisable into one
additional Share at a price of $0.90 per Share for a period of 24
months from closing.
No finders’ fees or commissions were paid in connection with the
Offering. Final TSX Venture Exchange approval has been received for
the Offering. All securities issued pursuant to the Offering are
subject to a four month and one day hold period from the date of
issuance.
About Jericho Oil Corporation
Jericho is a growth-oriented oil and gas company engaged in the
acquisition, exploration, development and production of overlooked
and undervalued oil properties in the Mid-Continent. For more
information, please visit www.jerichooil.com.
Cautionary Note Regarding Forward-Looking Statements: This news
release includes certain "forward-looking statements" within the
meaning of the United States Private Securities Litigation Reform
Act of 1995 and Canadian securities laws. There can be no assurance
that such statements will prove to be accurate and actual results
and future events could differ materially from those anticipated in
such statements. Important factors that could cause actual events
and results to differ materially from Jericho's expectations
include risks related to the exploration stage of Jericho's
project; market fluctuations in prices for securities of
exploration stage companies; and uncertainties about the
availability of additional financing.
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.
CONTACTS:
Tony Blancato, Director, Investor Relations918.986.7616
or
Adam Rabiner, Director, Corporate
Communications1.800.750.3520investorrelations@jerichooil.com
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