PTRVF - Petro Viking Energy Inc. Announces Results of Annual General and Special Meeting and Provides Corporate Update

(TheNewswire)

Calgary, Alberta – TheNewswire - October 19, 2021 – Petro Viking EnergyInc. (“ Petro Viking ” or the “ Company ”) (CNSX:VIK.CN) is pleasedto announce the results of the Annual General and Special Meeting (the“ Meeting ”) held on October 15, 2021, at 1:00 P.M. EST.

Results from the Annual General andSpecial Meeting

The following resolutions were approved and adopted bythe Company :

1. 1. The financial statements of theCompany for the financial year ending December 31, 2020, together withthe auditor’s report thereon;

2. 2. Setting the number of directorsof the Company to five (5) until the next Annual General Meeting;

3. 3. The election of the directorsof the Company, as follows :

   1. a. Mr. Leonard Van Betuw

   2. b. Mr. Thomas Valentine

   3. c. Mr. Daniel Lucero

   4. d. Mr. Kyle Appleby

   5. e. Mr. Michel Lebeuf Jr.

4. 4. The adoption of the Company’sstock option plan and the approval of the number of shares reservedfor issuance under the Company’s stock option plan;

5. 5. The amendment of theCompany’s articles to give effect to a name change of the Company toAvila Energy Corp. or any such name as is authorized by the board ofdirectors of the Company, acceptable to the Canadian Stock Exchangeand applicable regulatory authorities.

Change of Auditors

The Company also announces that it has appointed WDM,Chartered Professional Accountants (“ WDM ”) as theCompany’s independent auditor to hold office until the next AnnualGeneral Meeting of Shareholders.

Effective October 6, 2021, at the request of theCompany, Petro Viking’s predecessor auditor, MNP LLP, CharteredProfessional Accountants (“ MNP ”), resigned as auditors and WDM wasappointed to fill their vacancy for the fiscal year ending December31, 2021.

In accordance with the requirements of National Instrument 51-102 , a notice of change of auditor (“ Notice of Change ”)dated October 7, 2021, with an effective date of October 6, 2021, wassent to WDM and MNP, each of whom have provided a letter confirmingtheir agreement with the statement made in the Notice of Change.

Corporate Update

The Company continues its efforts with the CanadianSecurities Exchange (the “ CSE ”) and the Alberta Securities Exchange(the “ ASC ”) to obtain all necessary regulatory approvals inconnection with the previously announced acquisition of assets from611890 Alberta Inc. (the “ Acquisition ”), which would ultimately allowfor the resumption of trading of the Company’s common shares on theCSE. To the knowledge of the Company’s management, there are nomaterial circumstances that could adversely affect delays in relationto which such approvals are obtained. As part of the approval process,the Company intends to circulate and execute a consent resolution byits shareholders in connection with the Acquisition.

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 ”), whose commonshares have recently been subject to a trading halt in accordance withCSE Policies due to the contemplated Acquisition that would result ina fundamental change. As a low-cost Carbon Neutral Energy Producer in2022 the Company will continue to achieve its results by focusing onthe application of a combination of proven geological, geophysical,engineering, and production techniques. The Company intends tobecoming an integrated energy company utilizing the experience of itsofficers and directors who have acquired experience as developers,explorers, operators and financiers of energy projects in Canada andinternationally.

ON BEHALF OF THE BOARD

Leonard Van Betuw

President, Director and ChiefExecutive Officer

Email : leonard.v@avilaexpl.com

For further information, pleasecontact:

Peter Nesveda

Vice-president, Corporate Affairsand Investor Relations

Email: peter@intuitiveaustralia.com.au

Lars Glimhagen

Chief Financial Officer

Email : lars@petroviking.ca

All statements contained in thispress release about anticipated future events constituteforward-looking statements. Forward looking statements are often, butnot always, identified by the use of words such as “anticipate”and “expect”. Forward-looking statements are subject to businessrisks and uncertainties and other factors that could cause actualresults to differ materially from those contained in theforward-looking statements. Forward-looking statements are based onestimates and opinions of management at the date the statements aremade. 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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