Mr. Brian Williamson reports

JERICHO ENERGY VENTURES (TSXV: JEV) CLOSES USD$1.5 MILLION STRATEGIC INVESTMENT FROM COMSTOCK HOLDING COMPANIES (NASDAQ: CHCI)

Further to its news release dated Feb. 12, 2026, Jericho Energy Ventures Inc. has completed its non-brokered private placement with Comstock Holding Companies Inc. for gross proceeds of $1.5-million (U.S.) (approximately $2,055,000 (Canadian)).

The financing consisted of 25,684,932 units priced at eight Canadian cents per unit. Each unit comprises one variable voting share of the company and one-half of one share purchase warrant. With each two warrants entitling the holder to acquire one variable voting share at an exercise price of 20 cents per warrant share, exercisable for a period of 24 months from the date of issuance.

All securities issued under the financing are subject to a four-month-and-one-day hold period expiring on June 21, 2026, under applicable securities laws in Canada and the rules of the TSX Venture Exchange. The financing has received conditional approval and remains subject to final approval of the exchange.

Comstock's chief executive officer, Chris Clemente, is expected to join Jericho's board of directors following receipt of final exchange approval.

Net proceeds from the financing will be used to accelerate development of Jericho's planned flagship AI (artificial intelligence) data centre campus and related energy infrastructure in Oklahoma and for general working capital needs. No finders' fees or broker commissions will be paid in connection with the financing.

Pursuant to a letter of intent dated Feb. 11, 2026, Jericho and Comstock have committed to establish a strategic partnership focused on the acquisition and development of land in and around Jericho's existing energy assets in Oklahoma. When consummated, the joint venture is expected to focus on assembling a portfolio of strategically located land that integrates Jericho's subsurface energy infrastructure assets with surface land interests, supporting the development of large-scale AI data centre campuses and related digital infrastructure.

Comstock is currently expected to contribute $6-million (U.S.) into the newly formed JV. In addition, it will have the opportunity, at its discretion, to either participate in a subsequent private placement financing to Jericho or cause an indirect capital contribution from the JV to be distributed to Jericho.

The joint venture and related transactions are subject to certain conditions, and there can be no assurances that any or all of such transactions will be consummated.

About Jericho Energy Ventures Inc.

Jericho Energy Ventures is uniquely positioned at the nexus of energy and AI infrastructure. Leveraging its long-producing oil and gas joint venture assets and robust Oklahoma infrastructure, the company is deploying scalable, on-site power solutions to build cutting-edge, build-to-suit AI data centres. With direct access to abundant, low-cost natural gas, the company delivers efficient, high-performance energy solutions -- reducing waste, maximizing output and unlocking long-term value in the rapidly converging AI and energy markets.

We seek Safe Harbor.