VANCOUVER, BC, October 14, 2016 – Jericho Oil Corporation (“Jericho”) (TSX-V: JCO; OTC: JROOF) announces that it will issue a total of 600,000 compensation shares to two U.S. based employees and a consultant as part of their negotiated compensation packages. Jericho’s U.S. based employees are employed by a U.S. operating subsidiary. The compensation shares will be issued upon receipt of TSX Venture Exchange approval but will vest over a two year period with 25% of the issued shares vesting every three months in the second year of the vesting period.
About Jericho Oil Corporation
Jericho is a growth-oriented oil and gas company engaged in the acquisition, exploration, development and production of overlooked and undervalued oil properties in the Mid-Continent. For more information, please visit http://www.jerichooil.com.
Cautionary Note Regarding Forward-Looking Statements
This news release includes certain “forward-looking statements” within the meaning of the United States Private Securities Litigation Reform Act of 1995 and Canadian securities laws. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual events and results to differ materially from Jericho’s expectations include risks related to the exploration stage of Jericho’s project; market fluctuations in prices for securities of exploration stage companies; and uncertainties about the availability of additional financing.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this
Director, Investor Relations
Director, Corporate Communications