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Jericho Oil Corp
Symbol C : JCO
Shares Issued 91,736,824
Close 2017-09-07 C$ 0.71
Recent Sedar Documents

Jericho Oil investors acquire 1.96 million units

2017-09-07 18:01 ET - News Release

Mr. Steven Hegna, investor, reports

STEVE AND METTE HEGNA ANNOUNCE INVESTMENT IN JERICHO OIL CORPORATION

Jericho Oil Corp. shareholders Steven and Mette Hegna have invested in the company. On Sept. 6, 2017, the pair acquired by way of private placement ownership over 1,965,409 units of Jericho Oil at a price of 48 cents per unit for total consideration of $943,396.23 (or $750,000 (U.S.) based on the USD/CAD exchange rate of 0.795). The purchase price was $750,000 (U.S.) in cash.

Each unit consists of one common share of the corporation and one-half common share purchase warrant. Each whole warrant entitles the holder to purchase one common share at a price of 60 cents per common share during the 36-month period from the date of the completion of the acquisition.

As of the date hereof, after giving effect to the acquisition, the pair own 11,669,445 common shares and 5,731,223 warrants of the corporation, representing approximately 10.26 per cent of the issued and outstanding common shares on a non-diluted basis, and approximately 14.56 per cent on a partially diluted basis. Prior to the acquisition, the pair owned 9,704,036 common shares and 4,748,518 warrants of the corporation.

The units were acquired for investment purposes. The pair may acquire additional securities of the corporation either on the open market or through private acquisitions or sell the securities either on the open market or through private dispositions in the future depending on market conditions, reformulation or plans and/or other relevant factors. They may participate in future financings by the corporation, if any and if made available to them.

An early warning report in respect of the above-noted transaction will be filed on SEDAR. A copy of the early warning report may be obtained from the investors by contacting: Steven and Mette Hegna, 39 East Churchville Rd., Suite 100, Bel Air, Md., 21014. Telephone: 410-420-6025.

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