The proposed merger contemplates Camber issuing newly-issued shares of common stock, on a fully-diluted pro rata basis, to the equity holders of Viking having an 85% interest in the post-closing entity in exchange for 100% of the outstanding equity securities of Viking by means of a reverse triangular merger in which a newly formed wholly-owned subsidiary of Camber shall merge with and into Viking, with Viking continuing as the surviving corporation (the Merger) and wholly-owned subsidiary of Camber after the Merger. About Viking: Viking is a growth-oriented energy company, and has an existing Oil & Gas division with interests in properties in Texas, Louisiana, Mississippi and Kansas. In 2014, Simeo stepped down as CEO to serve as executive chairman. Viking is an independent exploration and production company focused on the acquisition and development of oil and natural gas properties in the Gulf Coast and Mid-Continent region. Viking Energy Group, Inc. (VKIN) Stock Forum & Discussion - Yahoo Finance Finance Home Watchlists My Portfolio Crypto Yahoo Finance Plus News Screeners Markets Videos Personal Finance Industries. Viking, Camber and certain of their respective directors and executive officers may be deemed to be participants in the solicitation of proxies from the respective stockholders of Viking and Camber in respect of the proposed merger under the rules of the SEC. For more information, please visit the company's website at www.vikingenergygroup.com. Under the terms of the merger agreement, which is structured as a reverse merger, Camber will issue newly-issued shares of common stock in exchange for the balance of Viking's common stock on. If you own common stock in Viking Energy Group, Inc. and wish to obtain additional information and protect your investments free of charge, please visit our website or contact Juan E. Monteverde . Certain of the matters discussed in this communication which are not statements of historical fact constitute forward-looking statements that involve a number of risks and uncertainties and are made pursuant to the Safe Harbor Provisions of the Private Securities Litigation Reform Act of 1995. Words such as "strategy," "expects," "continues," "plans," "anticipates," "believes," "would," "will," "estimates," "intends," "projects," "goals," "targets" and other words of similar meaning are intended to identify forward-looking statements but are not the exclusive means of identifying these statements. This button displays the currently selected search type. James Doris, President & CEO of Viking, stated, "We remain committed to working diligently to complete steps necessary to close the merger, and firmly believe the combination of the two companies will be extremely beneficial to all stakeholders. This was announced on Feb. 18 , but since then there has been no update on . HOUSTON, TX / ACCESSWIRE / June 16, 2020 / Camber Energy, Inc. (NYSE American:CEI) ("Camber") and Viking Energy Group, Inc. (OTCQB:VKIN) ("Viking") are pleased to announce that on June 4, 2020, Camber filed with the Securities and Exchange Commission (SEC), a Registration Statement on Form S-4, including a preliminary joint proxy statement relating to the planned merger between Viking and Camber. Viking is an independent exploration and production company focused on the acquisition and development of oil and natural gas properties in the Gulf Coast and Mid-Continent region. Baytex Energy has a 1 year low of C$5.11 and a 1 year high of C$9.16. Create your Watchlist to save your favorite quotes on Nasdaq.com. Viking is an independent exploration and production company focused on the acquisition and development of oil and natural gas properties in the Gulf Coast and Mid-Continent region. https://finance.yahoo.com/news/camber-energy-inc-viking-energy-123000227.html, https://www.accesswire.com/594011/Camber-Energy-Inc-and-Viking-Energy-Group-Inc-Report-Progress-on-Planned-Merger, Do Not Sell My Personal Information (CA Residents Only). and the law firm of Kahn Swick & Foti, LLC ("KSF") are investigating the proposed merger. Investors and security holders may obtain copies of these documents free of charge through the website maintained by the SEC at www.sec.gov or from Viking at its website, www.Viking.com, or from Camber at its website, www.Camber.energy. Based in Houston, Texas, Camber Energy (NYSE American:CEI) is a growth-oriented, independent oil and gas company engaged in the development of crude oil, natural gas and natural gas liquids in Texas. 2023, Nasdaq, Inc. All Rights Reserved. About the company Risk Analysis Earnings have declined by 37.7% per year over past 5 years Has less than 1 year of cash runway Highly volatile share price over the past 3 months No offering of securities shall be made except by means of a prospectus meeting the requirements of Section10 of the Securities Act of 1933, as amended. All subsequent written and oral forward-looking statements attributable to Viking, Camber, or any person acting on behalf of either party are expressly qualified in their entirety by the cautionary statements referenced above. Information about Camber's directors and executive officers is available in Camber's Annual Report on Form 10-K for the year ended March 31, 2020 and other public reports, including its Current Report on Form 8-K filed on December 23, 2020. Combining Vikings business strategy and operational expertise with the Camber platform should create substantial value for Camber.. Currency in USD Follow 0.3298 +0.0086 (+2.68%) At close: 03:58PM EST Time Period: Mar 02, 2022 - Mar 02, 2023 Show:. This communication shall not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of securities, in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. Investors should read the joint proxy statement/prospectus carefully when it becomes available before making any voting or investment decisions. Investors should read the final joint proxy statement/prospectus carefully when it becomes available before making any voting or investment decisions. Viking Energy Group Inc is an independent exploration and production company. Viking Energy Group, Inc. entered into a definitive agreement to acquire Camber Energy, Inc. in a reverse merger transaction on February 3, 2020. Important factors that may cause actual results and outcomes to differ materially from those contained in such forward-looking statements include, without limitation, the occurrence of any event, change or other circumstances that could give rise to the parties failing to complete the merger on the terms disclosed, if at all, the right of one or both of Viking or Camber to terminate the merger agreement and the result of such termination; the outcome of any legal proceedings that may be instituted against Viking, Camber or their respective directors; the ability to obtain regulatory approvals and other consents, and meet other closing conditions to the merger on a timely basis or at all, including the risk that regulatory approvals or other consents required for the merger are not obtained on a timely basis or at all, or which are obtained subject to conditions that are not anticipated or that could adversely affect the combined company or the expected benefits of the transaction; the ability to obtain approval by Viking stockholders and Camber stockholders on the expected schedule; required closing conditions which may not be able to be met and/or consents which may not be able to be obtained; difficulties and delays in integrating Viking's and Camber's businesses; prevailing economic, market, regulatory or business conditions, or changes in such conditions, negatively affecting the parties, including, but not limited to, as a result of the recent volatility in oil and gas prices and the status of the economy (both US and global) due to the Covid-19 pandemic and actions taken to slow the spread of Covid-19; risks that the transaction disrupts Viking's or Camber's current plans and operations; failing to fully realize anticipated cost savings and other anticipated benefits of the merger when expected or at all; potential adverse reactions or changes to business relationships resulting from the announcement or completion of the merger; the ability of Camber to obtain the approval of its Series C Preferred Stock holder to close the Merger; the ability of Viking or Camber to retain and hire key personnel; the diversion of management's attention from ongoing business operations; uncertainty as to the long-term value of the common stock of the combined company following the merger; the continued availability of capital and financing prior to, and following, the merger; the business, economic and political conditions in the markets in which Viking and Camber operate; and the fact that Viking's and Camber's reported earnings and financial position may be adversely affected by tax and other factors. Information about Camber's directors and executive officers is available in Camber's Annual Report on Form 10-K for the year ended March 31, 2020 and other public reports, including its Current Report on Form 8-K filed on December 23, 2020. Volume. As mentioned, Camber owns a 62% stake in Viking, and the two companies have agreed to merge. The Merger Agreement also contemplates each outstanding share of Series C Preferred Stock of Viking being exchanged for one share of Series A Preferred Stock of Camber, which will have the characteristics as set out in the Merger Agreement. The company has a market capitalization of C$3.07 billion, a PE ratio of 2.98, a price-to-earnings-growth ratio of 0. . In 2020, Viking produced over 624,000 barrels of oil and 5.2 billion cubic feet of gas. Other information regarding the participants in the proxy solicitation and a description of their direct and indirect interests, by security holdings or otherwise, will be contained in the final joint proxy statement/prospectus and other relevant materials to be filed with the SEC regarding the merger when they become available. Klicken Sie auf Alle ablehnen, wenn Sie nicht mchten, dass wir und unsere Partner Cookies und personenbezogene Daten fr diese zustzlichen Zwecke verwenden. Camber Energy, Inc. The timing of the filing is consistent with the projected timetable set out in the joint press release issued by the companies on June 1, 2020 (https://finance.yahoo.com/news/camber-energy-inc-viking-energy-123000227.html) regarding previously planned next steps in the merger process. The company owns oil and gas leases in Texas, Louisiana, Mississippi and Kansas. Weitere Informationen ber die Verwendung Ihrer personenbezogenen Daten finden Sie in unserer Datenschutzerklrung und unserer Cookie-Richtlinie. You may obtain free copies of these documents from Viking or Camber using the sources indicated above. If the closing of the Merger occurs (the "Closing"), the Viking equity holders prior to the Merger will own approximately 80% of Camber's issued and outstanding common stock immediately after the Merger, and the Camber equity holders prior to the Merger shall own approximately 20% of Camber's issued and outstanding common stock immediately after the Merger, subject to adjustment mechanisms set out in the Merger Agreement, as amended, and in each case on a fully-diluted, as-converted basis as of immediately prior to the Closing (including options, warrants and other rights to acquire equity securities of Viking or Camber), but without taking into account any shares of common stock issuable to the holder of Camber's Series C Preferred Stock upon conversion of the Series C Preferred Stock. The registration statement will include a preliminary joint proxy statement/prospectus which, when finalized, will be sent to the respective stockholders of Viking and Camber seeking their approval of their respective transaction-related proposals. Contact InformationInvestors and Media:T. 281.404.4387 (ext.3)E. ir@vikingenergygroup.com. Viking Energy Group - VKIN News Today $0.32 -0.01 (-3.08%) (As of 03/3/2023 12:00 AM ET) Compare Today's Range $0.30 $0.33 50-Day Range $0.29 $0.45 52-Week Range $0.25 $1.24 Volume 23,965 shs Average Volume 30,478 shs Market Capitalization $36.17 million P/E Ratio N/A Dividend Yield N/A Price Target N/A Profile Chart Competitors Earnings