On March 22, 2023, Jericho Energy Ventures Inc. closed the transaction. The company issued 8,662,745 units at CAD 0.26 per unit for gross proceeds of CAD 2,252,313.70. The financing has received conditional approval from the TSX Venture Exchange and is subject to final Exchange approval. All securities issued under the financing are subject to a four month hold period expiring on July 23, 2023. Insiders of the company purchased 2,064,769 units in the financing.

On March 23, 2023, the company announced that TSX Venture Exchange has accepted for filing documentation with respect to transaction. The transaction included participation from 29 placees which include two existing insider for 2,064,769 units, and two pro groups for 204,000 units.