Jericho Energy Ventures Enters Into LOI With Comstock To Establish Strategic Partnership Focused On Acquisition And Development Of Land In And Around Jericho's Existing Energy Assets In Oklahoma

Jericho Energy Ventures Inc. (TSXV:JEV)(OTCID:JROOF)(FRA:JLM) ("Jericho", "JEV" or the "Company"), an energy innovation company positioned at the nexus of energy and AI infrastructure, is pleased to announce that it has entered into a letter of intent (the "LOI"), dated February 11, 2026, with Comstock Holding Companies, Inc. (NASDAQ:CHCI) ("Comstock"), pursuant to which the parties have committed to establish a strategic partnership (the "Joint Venture" or "JV") focused on the acquisition and development of land in and around Jericho's existing energy assets in Oklahoma.

Comstock is a diversified real estate organization with a 40+ year history of investing in, developing, acquiring, owning and operating virtually all types of residential, commercial, and mixed-use real estate, while providing supply-chain and management services to institutional investors, lenders, owners and municipalities with interests in real estate.

As part of the proposed joint venture, Comstock has agreed to invest in Jericho through an initial non-brokered private placement (the "Financing") for gross proceeds of USD$1.5 million, subject to applicable regulatory approvals, including acceptance by the TSX Venture Exchange (the "Exchange").

The Financing will consist of 25,684,932 units priced at CAD$0.08 per unit (the "Units"). Each Unit will be comprised of one (1) variable voting share of the Company (each, a "Unit Share") and one-half (½) of one share purchase warrant (each, a "Warrant"). Each two (2) Warrants will entitle the holder to acquire one (1) variable voting share (each, a "Warrant Share") at an exercise price of CAD$0.20 per Warrant Share, exercisable for a period of 24 months from the date of issuance. In addition, the Company may, at its discretion and subject to investor demand, offer up to an additional 20,000,000 Units under the private placement on the same terms as Comstock's investment.

Comstock's Chief Executive Officer, Chris Clemente, is expected to join Jericho's board of directors following receipt of Exchange approval.

Net proceeds from the Financing will be used to accelerate development of Jericho's planned flagship AI data center campus and related energy-infrastructure in Oklahoma and for general working capital needs.