Viking Extinguishes Convertible Notes
NEW YORK, NY -- (Marketwired) -- 05/25/16 -- Viking Investments Group, Inc. ("Viking") (OTCQB: VKIN) announced in a Form 8-K filed yesterday with the Securities and Exchange Commission that the company has paid in full the amount owing under all outstanding, unsecured, convertible promissory notes referenced on its balance sheet. There were four notes in total, all of which have been extinguished. This action eliminated the potential conversion of several million free trading shares into the market.
Viking is an independent exploration and production company focused on the acquisition and development of oil and natural gas properties in North America. The company owns oil and gas leases in Alberta, Kansas and Missouri. 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 May 25, 2016