PTRVF - Petro Viking releases its Financials for the nine-month periods ended September 30 2021 and is pleased to announce the receipt of the Conditional Approval of the Company's Fundamental Change
(TheNewswire)
Calgary, Alberta – TheNewswire - November 25, 2021 – Petro Viking EnergyInc. (“ Petro Viking ” or the “ Company ”) (CSE:VIK) (CNSX:VIK.CN) releases its financials for the nine months period ended September 30,2021 and has obtained conditional approval from the CanadianSecurities Exchange (the “ CSE ”) for its proposed acquisition of 100%of 611890 Alberta Inc. (dba Avila Energy) (“ Avila ”) undividedinterests in 53,835 Acres, 43,935 Acres (Net),of mineral rights, associated wells, pipelines and facilities. See theCompany’s news release dated June 14, 2021 for further information.
The acquisition is considered a fundamental changeunder the policies of the CSE. Subject to the fulfilment of conditionsand necessary approvals, the Company anticipates that the completionof the acquisition will occur sometime by the end of December 2021, orsuch other date as the Company and Avila may agree. Upon successfulcompletion of the acquisition, the Company’s common shares willresume trading on the CSE under the ticker symbol “VIK”.
A copy of the Form 2A listing statement in connectionwith the acquisition was prepared in accordance with the policies ofthe CSE and will be available on SEDAR and the CSE website prior tothe resumption of trading of the common shares on the CSE.
The conditions of approval being; the delivery of aConsent Resolution from shareholders representing more than 65% ofClass A Common Shareholders of the Company and the submission of allremaining documents and payment of associated filing fees with the CSEthat are typically associated with a Fundamental Change. The Companyhas received to date overwhelming verbal support and anticipates thatall conditions will be promptly completed.
The Company’s name shall be changing to Avila EnergyCorporation, as approved at the Annual General and Special Meetingheld on October 15 th , 2021 with the website being updated uponcompletion of the transition which is anticipated in December of2021.
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
Peter Nesveda
Vice-President, Corporate Affairsand Investor Relations
Email: peter @intuitiveaustralia.com.au
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. TheCompany does not undertake any obligation to update forward-lookingstatements even if circumstances or management’s estimates oropinions should change except as required by applicable laws.Investors should not place undue reliance on forward-lookingstatements.
BOE presentation:
Barrel ("bbl") of oilequivalent ("boe") amounts may be misleading particularly ifused in isolation. All boe conversions in this report are calculatedusing a conversion of six thousand cubic feet of natural gas to oneequivalent barrel of oil (6 mcf=1 bbl) and is based on an energyconversion method primarily applicable at the burner tip and does notrepresent a value equivalency at the well head.
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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