Viking Investments Group, Inc. Opts Not to Proceed With Opportunity Involving Exall Energy Corporation
Viking Investments Will Not Secure Financing to Facilitate the Repayment of Exall's Senior Debt as Announced on February 9th, 2015
NEW YORK, NY -- (Marketwired) -- 03/26/15 -- Viking Investments Group, Inc. ("Viking") (OTCQB: VKIN) has advised that given recent steps taken by Exall Energy Corporation's ("Exall") (TSX: EE) primary lender, Viking will no longer continue efforts to attempt to secure financing to facilitate the repayment of Exall's senior, secured indebtedness, as contemplated in the Letter of Intent executed by Viking and Exall on February 8th, 2015 and announced by Viking on February 9th, 2015.
Viking remains committed to expanding its Energy Division and evaluating and completing acquisitions and other opportunities in the Oil & Gas sector in both Canada and the U.S.
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 Email: firstname.lastname@example.org
Source: Viking Investments Group, Inc.
Released March 26, 2015