Viking Investments Group, Inc. Announces Private Placement
NEW YORK, NY -- (Marketwired) -- 02/05/15 -- Viking Investments Group, Inc. ("Viking") (OTCQB: VKIN) is pleased to announce that it intends to complete a private placement for gross proceeds of $300,000 (the "Financing"). These funds will be raised by the issuance of 1,200,000 common shares in the capital stock of Viking at a price equal to $0.25 per share (currently being a premium to the Company's market price). The shares may be issued to more than one investor.
Proceeds raised from the Financing will be used for general working capital purposes. The Financing is expected to close on or about February 16th, 2015. Depending on the source of funds, Viking may pay a fee in connection with the Financing.
Viking aims to acquire, invest in and/or provide professional advisory and consulting services to companies undergoing or anticipating periods of rapid growth, significant change or ownership transition. Viking's primary focus is directed toward evaluating and completing investments in North America, mainly in the Oil & Gas and Real Estate sectors, with appropriate diversification and balance between each division. Viking targets under-valued investments with realistic appreciation potential and a defined exit strategy.
Viking is not an investment company, as defined by the Investment Company Act of 1940.
Safe Harbor Statement
This press release may contain forward-looking information within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended (the Exchange Act), including all statements that are not statements of historical fact regarding the intent, belief or current expectations of the company, its directors or its officers with respect to, among other things: (i) the company's financing plans; (ii) trends affecting the company's financial condition or results of operations; (iii) the company's growth strategy and operating strategy; and (iv) the declaration and payment of dividends. The words "may," "would," "will," "expect," "estimate," "anticipate," "believe," "intend" and similar expressions and variations thereof are intended to identify forward-looking statements. Investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, many of which are beyond the company's ability to control, and that actual results may differ materially from those projected in the forward-looking statements as a result of various factors including the risk disclosed in the company's Forms 10-K and 10-Q filed with the SEC.
For additional information please contact:
James A. Doris
President and C.E.O.
Viking Investments Group, Inc.
1330 Avenue of the Americas, Suite 23A
New York, NY 10019
Source: Viking Investments Group, Inc.
Released February 5, 2015