NEW YORK, NY--(Marketwired - Aug 27, 2014) - Viking Investments Group, Inc. ("Viking") (OTCQB: VKIN) is pleased to announce it received from an unaffiliated entity a commitment, evidenced by, among other things, a wire transfer in immediately available funds into the trust account of Viking's legal counsel, toward the $2,000,000 private placement announced by Viking on May 12th, 2014. Upon receipt of sufficient additional funds, Viking intends to complete all or part of the private placement, the proceeds from which will be used to purchase an equity interest in one or more publicly-traded companies actively engaged in the commercial production of oil and gas, and 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.