Jericho Energy Ventures Clarifies Non-Binding LOI with Smartkem

Jericho Energy Ventures Inc. ("Jericho") issued a clarification regarding its recent announcement of a non-binding Letter of Intent (LOI) with Smartkem, Inc. The company emphasized that the LOI aims only to explore potential terms for a future business collaboration. As of now, no definitive agreements have been finalized, and there have been no changes in management or company assets.

Jericho continues its core operations in Oklahoma, maintaining compliance with TSX Venture Exchange listing standards. Notably, should a merger occur, the resulting entity is anticipated to list on the NASDAQ Exchange, with Jericho delisting from TSX-V. However, there is no certainty of an agreement or transaction finalization.