PTRVF - Petro Viking Announces Measures Taken Towards Resumption of Trading
(TheNewswire)
Calgary, Alberta – TheNewswire - September 28, 2021 – Petro Viking EnergyInc. (“ Petro Viking ” or the “ Company ”) (CNSX:VIK.CN) (OTC:PTRVF) announces the completion and filing of appropriate documentation (the“ ListingStatement ”) with the Alberta SecuritiesCommission (the “ ASC ”) and the Canadian Securities Exchange(the “ CSE ”). The filing of t he Listing Statement with theabove-mentioned regulatory authorities, whereby Prospectus leveldisclosure of the Company is contained, constitutes a prerequisite forthe resumption of trading of the Company’s common shares on the CSEfollowing a trading halt that is currently in effect due to theformerly announced acquisition by the Company of Avila Energy’sinterests in West Central Alberta (the “ Avila Transaction ”). Resumption of trading of the Company’s common sharesremains subject to the approval of the Avila Transaction by the CSE.
The Avila Energy Transaction
On June 14, 2021, the Company announced that it hadentered into a binding agreement with Avila Energy (“ Avila ”) pertainingto the acquisition by the Company of 100% of Avila’s interests in53,835 Acres, 43,935 Acres (Net), of mineral rights, associated wells,pipelines and facilities for the purchase price of $50,664,000 (the“ Purchase Price ”). Pursuant to said agreement, the Purchase Price is to besatisfied by way of issuance of 44,440,000 Class A common shares ofPetro Viking (the “ CommonShares ”) at $0.60 per share and 30,000,000convertible preferred shares of Petro Viking (the “ Convertible Shares ”) convertible at a price of $0.80 per share.
About Petro Viking Energy Inc.
The Company is an energy company based and operating inthe province of Alberta, Canada engaged in petroleum and natural gasexploration and development activities in western Canada, and is anEmerging CSE listed corporation (“ VIK ”). As alow-cost Carbon Neutral Energy Producer in 2022 the Company willcontinue to achieve its results by focusing on the application of acombination of proven geological, geophysical, engineering, andproduction techniques. The Company intends to becoming an integratedenergy company utilizing the experience of its officers and directorswho have acquired experience as developers, explorers, operators andfinanciers of energy projects in Canada and internationally.
Leonard Van Betuw
President and CEO
Email: leonard.v@avilaexpl.com
For further information, pleasecontact:
Lars Glimhagen
Chief Financial Officer
Email: lars@petroviking.ca
All statements contained in this press release aboutanticipated future events constitute forward-looking statements.Forward looking statements are often, but not always, identified bythe use of words such as “anticipate” and “expect”.Forward-looking statements are subject to business risks anduncertainties and other factors that could cause actual results todiffer materially from those contained in the forward-lookingstatements. Forward-looking statements are based on estimates andopinions of management at the date the statements are made. The Company does not undertake any obligation to updateforward-looking statements even if circumstances or management’sestimates or opinions should change except as required by applicablelaws. Investors should not place undue reliance on forward-lookingstatements.
Neither the Canadian SecuritiesExchange nor its Regulation Services Provider (as that term is definedin policies of the Canadian Securities Exchange) acceptsresponsibility for the adequacy or accuracy of this release.
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