CEI - Camber Energy to buy Viking in $20M deal

Camber Energy (CEI) +56% pre-market after announcing a definitive agreement to acquire 51% of Viking Energy (VKIN) for $20.1M.Camber says the purchase price was payable through the cancellation of $9.2M of existing debt Viking owed to Camber, plus $10.9M which was provided through a loan from the company's preferred stockholder.Current Viking President and CEO James Doris will lead the combined company.Camber and Viking first unveiled their proposed merger in January, after Camber dropped plans to merge with Lineal Star Holdings.

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Camber Energy to buy Viking in $20M deal