Mr. Adam Rabiner reports

JERICHO ENERGY VENTURES CLOSES FINAL TRANCHE OF OVERSUBSCRIBED NON-BROKERED PRIVATE PLACEMENT FINANCING

Jericho Energy Ventures Inc. has closed the second and final tranche of its previously announced non-brokered private placement. The company issued 12,255,000 units at a price of 10 cents per unit in the second tranche of the financing, generating gross proceeds of $1,225,500.

The total gross proceeds raised from the first and second tranches of the financing amounted to $2,024,500.

Each unit consists of one common share and one share purchase warrant, with each warrant entitling the holder to purchase one share at a price of 20 cents for a period of two years from closing.

All securities issued under the second tranche of the financing are subject to a four-month-and-one-day hold period expiring on May 30, 2025, under applicable securities laws in Canada and the rules of the TSX Venture Exchange. The financing remains subject to final approval of the exchange.

Two insiders of Jericho acquired an aggregate 1.7 million units in the second tranche of the financing. The insider participation is exempt from the valuation and minority shareholder approval requirements of Multilateral Instrument 61-101, Protection of Minority Securityholders in Special Transactions, by virtue of the exemptions contained in sections 5.5(a) and 5.7(1)(a) of MI 61-101, based on that the fair market value of such insider participation does not exceed 25 per cent of Jericho's market capitalization.

Net proceeds from the financing will be used for general working capital purposes.

We seek Safe Harbor.