Deal sells 4 million units of a share, one warrant at $0.50 per unit
By Devika Patel
Knoxville, Tenn., May 12 - Viking Investments Group Inc. said it arranged a $2 million private placement of units.
The company will sell 4 million units of one common share and one warrant at $0.50 per unit. Each whole warrant is exercisable at $0.75 for one year. The strike price is a 150% premium to the May 9 closing share price of $0.30.
Settlement is expected May 23.
Proceeds will be used to purchase an equity interest in publicly-traded companies that produce oil and gas and for general working capital.
The New York company provides incubate resources and services to support the development of late stage, non-publicly-listed companies.
| Issuer: | Viking Investments Group Inc.
|
| Issue: | Units of one common share and a warrant
|
| Amount: | $2 million
|
| Units: | 4 million
|
| Price: | $0.50
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | One year
|
| Warrant strike price: | $0.75
|
| Pricing date: | May 12
|
| Settlement date: | May 23
|
| Stock symbol: | OTCBB: VKIN
|
| Stock price: | $0.30 at close May 9
|
| Market capitalization: | $5.63 million
|
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