TULSA, Okla. and VANCOUVER, British Columbia, Jan. 02, 2018 (GLOBE NEWSWIRE) — 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.