on Jericho Energy Ventures Inc. (isin : CA4763391063)
Jericho Energy Ventures to Separate Hydrogen Platform from Traditional Assets
Jericho Energy Ventures Inc. announced plans to separate its hydrogen platform into a new entity, Hydrogen Technologies Corporation (HTC). This strategic move, pending regulatory and shareholder approvals, aims to maximize shareholder value by creating two independent companies. Each Jericho shareholder will retain their shares and receive additional shares in HTC.
The spinout will result in two specialized energy firms, allowing for distinct strategies and focused investment plans. Jericho's existing oil and gas activities will continue under the TSX Venture Exchange symbol JEV. The plan awaits approval from shareholders and regulatory bodies, with a meeting tentatively scheduled for January 2025.
CEO Brian Williamson stated that the separation aims to create agile companies, each pursuing growth and success in their respective sectors. Jericho's focus will be on delivering value across both hydrogen and oil & gas industries.
R. E.
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