10:56:04 EDT Thu 19 Sep 2019
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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

ORIGINAL: Jericho Oil investors acquire 1.96 million units

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

Received by email:

File: Jericho Oil.Hegna - News Release(Sep. 7, 2017) (W0337672xB74B6).pdf

                                 Steve and Mette Hegna
                      Announce Investment in Jericho Oil Corporation

Bel Air, Maryland   September 7, 2017   Steven and Mette Hegna ("Hegna") announce that on
September 6, 2017, Hegna acquired (the "Acquisition") by way of private placement ownership over
1,965,409 units ("Units") of Jericho Oil Corporation (the "Corporation") at a price of CDN$0.48 per
Unit for total consideration of CDN$943,396.23 or US$750,000 (based on the US$/CDN$ exchange
rate of 0.795). The purchase price was US$750,000 in cash.

Each Unit consists of one common share of the Corporation (each a "Common Share") and one half
Common Share purchase warrant (each a "Warrant"). Each whole Warrant entitles the holder to
purchase one Common Share at a price of CDN$0.60 per Common Share during the thirty-six (36)
month period from the date of the completion of the Acquisition.

As of the date hereof, after giving effect to the Acquisition, Hegna owns 11,669,445 Common Shares
and 5,731,223 warrants of the Corporation, representing approximately 10.26% of the issued and
outstanding Common Shares on a non-diluted basis, and approximately 14.56% on a partially diluted
basis. Prior to the Acquisition, Hegna owned 9,704,036 Common Shares and 4,748,518 warrants of
the Corporation.

The Units were acquired for investment purposes. Hegna 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. Hegna may participate in future financings by the
Corporation, if any and if made available to Hegna.

The head office of the Corporation is located at Suite 350, 750 West Pender Street, Vancouver, B.C.,
V6C 2T7.

An early warning report in respect of the above-noted transaction will be filed on SEDAR at
www.sedar.com. A copy of the early warning report may be obtained from Hegna by contacting:

Steven and Mette Hegna
39 East Churchville Road
Suite 100
Bel Air, Maryland 21014
Telephone: (410) 420-6025

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