VKIN - Camber Energy Viking Energy execute merger deal

Camber Energy ([[CEI]] +22.2%) says it reached a definitive merger agreement with Viking Energy (VKIN) through a reverse triangular merger structure.Camber says it plans to issue new common shares in exchange for the 38% of Viking shares it does not already own on a one-for-one basis.Camber announced a deal in December to buy 51% of Viking Energy for $20.1M.Camber and Viking first unveiled a proposed deal in January 2020, after Camber dropped plans to merge with Lineal Star Holdings.

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Camber Energy, Viking Energy execute merger deal