PTRVF - Petro Viking Energy Inc. Closes $2500000 Private Placement
(TheNewswire)
Calgary, Alberta – TheNewswire - September 21, 2021 – Petro Viking EnergyInc. (“ Petro Viking ” or the “ Company ”) (CSE:VIK) (CNSX:VIK.CN) ispleased to announce the closing of a successful non-brokered privateplacement for gross proceeds of $2,500,000 by the issuance of10,000,000 Units at a price of $0.25 per Unit (the “ Offering ”), eachUnit being comprised of one (1) common share in the capital of theCompany (a “ CommonShare ”) and one-half (1/2) common sharepurchase warrant, each full warrant entitling the holder thereof topurchase one (1) additional Common Share at a price of $0.35 for aperiod of twenty-four (24) months from the date of theissuance.
All securities issued under this Offering will besubject to a statutory hold period of four (4) months plus a day fromclosing.
The proceeds from the Offering will be used by theCompany for general working capital purposes.
In connection to this Offering, the Company is payingfinders’ fees in cash in the amount of $151,580 and issuing 368,800compensation warrants (the “ Compensation Warrants ”). Each CompensationWarrant is exercisable into one (1) Common Share of the Company at$0.35 per share until September 13, 2023.
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 a low-cost CarbonNeutral Energy Producer in 2022 the Company will continue to achieveits results by focusing on the application of a combination of provengeological, geophysical, engineering, and production techniques. TheCompany intends to become an integrated energy company utilizing theexperience of its officers and directors who have acquired experienceas developers, explorers, operators, and financiers of energy projectsin Canada and internationally.
ON BEHALF OF THE BOARD
Leonard Van Betuw
President and CEO
Email: leonard.v@avilaexpl.com
For further information regarding this new release,please contact: Lars Glimhagen, CFO or Peter Nesveda, Vice Presidentof Corporate Affairs, and Investor Relations.
Email: lars@petroviking.ca or peter@intuitiveaustralia.com.au
All statements contained in thispress release about anticipated future events constitute All statements contained in this pressrelease about anticipated future events constitute forward-lookingstatements. Forward looking statements are often, but not always,identified by the use of words such as “anticipate” and“expect”. Forward-looking statements are subject to business risksand uncertainties 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. TheCompany does not undertakeany obligation to update forward-looking statements even ifcircumstances or management’s estimates or opinions should changeexcept as required by applicable laws. Investors should not placeundue reliance on forward-looking statements.
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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