Comstock Commits $1.5M to Jericho Energy and Plans $6M AI Data Center JV
Comstock invested USD1.5M in Jericho Energy via 25.68 million units at CAD0.08 with warrants exercisable at $0.20 for 24 months, and its CEO will join Jericho’s board upon final TSXV approval. The investment supports a planned JV with Comstock contributing USD6M to develop Oklahoma land for AI data center campuses.
1. Strategic Investment Details
Comstock invested USD1.5M in Jericho Energy Ventures through a non-brokered private placement, acquiring 25,684,932 units at CAD0.08 per unit. Net proceeds will accelerate development of Jericho’s flagship AI data center campus in Oklahoma and cover general working capital needs.
2. Placement Structure
Each unit comprised one variable voting share and one-half of one warrant, with two warrants exercisable for one share at USD0.20 per share for 24 months. All securities are subject to a statutory hold period expiring June 21, 2026, and final TSXV approval.
3. Board Appointment
Comstock’s CEO, Chris Clemente, is expected to join Jericho’s board following exchange approval, strengthening governance oversight and strategic alignment between the two companies.
4. Joint Venture Plan
Under a letter of intent, Comstock will commit USD6M to a joint venture focused on acquiring and developing land around Jericho’s existing energy infrastructure in Oklahoma for large-scale AI data center campuses, integrating subsurface energy assets with surface land interests.