NEW YORK, NY, United States, via ETELIGIS INC., 09/08/2014 - - Viking Investments Group, Inc. ("Viking") (OTCQB: VKIN) is pleased to announce it received an additional commitment toward the $2,000,000 private placement announced by Viking on May 12th, 2014 (the "Private Placement"), which is further to the commitment disclosed on August 27th, 2014.
Viking intends to close on part of the Private Placement and use the proceeds to subscribe for shares of a publicly-traded company engaged in the commercial production of oil and gas, subject to the execution of a Subscription Agreement on terms and conditions satisfactory to Viking, and for general working capital.
Upon receipt of sufficient additional funds, Viking intends to complete the balance of the Private Placement, the proceeds from which will be used: (i) to purchase an equity interest in one or more publicly-traded companies actively engaged in the commercial production of oil and gas; (ii) to acquire a working interest in an oil and gas property; and (iii) for general working capital.
Viking provides professional advisory and consulting services to companies undergoing or anticipating periods of rapid growth, significant change or ownership transition. Target companies must have superior management, intimate knowledge of the particular industry and a sound business plan, along with a desire and receptiveness for specific expertise to advance the company's business objectives.
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:
Viking Investments Group, Inc.
1330 Avenue of the Americas, Suite 23A
New York, NY 10019
Email: IR@vikinginvestments.com
Website: www.vikinginvestments.com (will be updated accordingly)
SOURCE: Viking Investments Group, Inc.