10 Nov 2021securities registration● Neutral
VIKING ENERGY GROUP, INC. registered a securities offering with the SEC using its shelf eligibility.
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
18 Oct 2021asset acquisition disposition▼ BadMajor
A week after exiting Ichor, Viking also gave up its Elysium Energy platform (the $40 million 2019 Texas/Louisiana acquisition), assigning it back to an affiliate of its original seller -- Viking's Gulf Coast E&P buildout was now fully unwound in favor of the emerging diversification strategy.
12 Oct 2021asset acquisition disposition▼ BadMajor
Viking gave up its entire Ichor Energy platform (Texas/Louisiana producing assets bought for ~$86 million in 2018), assigning its membership interests back to an affiliate of the original seller -- a retreat from the core Gulf Coast E&P business it had built since 2017.
23 Aug 2021material agreement● NeutralMajor
Viking licensed carbon-capture and stationary power-generation patents from ESG Clean Energy, LLC for use across Canada and up to 25 U.S. sites, paying a $1.5 million up-front royalty with $3.5 million more due through April 2022 plus ongoing revenue-based royalties.
16 Aug 2021quarterly activities report▼ Bad
VIKING ENERGY GROUP, INC. reported quarterly revenue of $9.7 million and a net loss of $9.1 million for the period ended 2021-09-30.
9 Aug 2021asset acquisition disposition▲ GoodMajor
Viking closed its purchase of a 60.5% stake in Simson-Maxwell Ltd., a Canadian industrial engine and power-generation equipment maker, for about CA$10 million -- Viking's first diversification beyond oil and gas.
2 Aug 2021director interest notice● Neutral
Troy Andrew Caruso became a VIKING ENERGY GROUP, INC. company insider (initial ownership filing).
30 July 2021capital raising announcement▲ GoodMajor
Camber (then ~62% owner) bought another 27.5 million Viking shares for $11 million cash, funding two new diversification moves: an approximately 60.5% stake in Canadian industrial-engine maker Simson-Maxwell and a carbon-capture technology license -- pushing Camber's stake in Viking to about 73%.
24 May 2021quarterly activities report▼ Bad
VIKING ENERGY GROUP, INC. reported quarterly revenue of $10.5 million and a net loss of $9.9 million for the period ended 2021-03-31.
17 May 2021late filing notice▼ Bad
VIKING ENERGY GROUP, INC. notified the SEC that its quarterly report would be filed late.
27 Apr 2021debt financing● Neutral
Viking guaranteed a new note Camber issued to its institutional lender -- Viking's own credit increasingly backstopping Camber's separate financing needs as the two companies' finances intertwined ahead of a full merger.
18 Feb 2021business combination● NeutralMajor
Viking and Camber signed a new Merger Agreement, reviving the full-combination plan that had been shelved in December 2020's direct stock purchase.
26 Jan 2021securities registration● Neutral
VIKING ENERGY GROUP, INC. filed notice of an exempt private placement.
13 Jan 2021capital raising announcement▲ GoodMajor
Camber bought a further 145,384,615 Viking shares by retiring $20.9 million Viking owed to lender EMC Capital Partners -- Camber issued EMC its own preferred stock and Viking paid EMC $325,000 cash, cleaning up Viking's balance sheet while increasing Camber's stake.
7 Jan 2021securities registration● Neutral
VIKING ENERGY GROUP, INC. filed notice of an exempt private placement.
28 Dec 2020asset acquisition disposition● NeutralMajor
The 2020 Merger Agreement was terminated outright. Instead, Camber bought a direct 51% stake in Viking (236,470,588 shares) for $10.9 million cash plus cancellation of $9.2 million in notes Viking owed it, and assigned its Elysium Energy Holdings stake back to Viking -- replacing a full-combination plan with a controlling-stake structure.
9 Oct 2020business combination● Neutral
Viking and Camber signed a First Amendment to their Amended and Restated Merger Agreement, continuing to renegotiate terms.
15 Sept 2020business combination● Neutral
Viking and Camber issued another joint press release with a routine update on the pending merger's status.
8 Sept 2020director interest notice● Neutral
Troy Andrew Caruso became a VIKING ENERGY GROUP, INC. company insider (initial ownership filing).
4 Sept 2020capital raising announcement▼ Bad
Like the Ichor loan in June, Viking's Elysium Energy term loan lenders relaxed the PDP Collateral Coverage and Maximum Leverage covenants due to the COVID-19 oil price collapse -- both Gulf Coast platforms now under covenant strain.
3 Sept 2020business combination● NeutralMajor
Viking and Camber signed an Amended and Restated Merger Agreement, and Viking amended its Series C Preferred Stock terms (4,900 votes and common-share conversion per preferred share) in anticipation of a full combination.
24 Aug 2020quarterly activities report▼ Bad
VIKING ENERGY GROUP, INC. reported a quarterly net loss of $17.7 million for the period ended 2020-06-30.
20 Aug 2020quarterly activities report▼ Bad
VIKING ENERGY GROUP, INC. reported a quarterly net loss of $17.7 million for the period ended 2020-06-30.
17 Aug 2020late filing notice▼ Bad
VIKING ENERGY GROUP, INC. notified the SEC that its quarterly report would be filed late.
5 Aug 2020capital raising announcement▼ Bad
Over about a week, Viking raised roughly $2.2 million from some 29 investors via convertible notes, most of which were immediately converted into nearly 15 million shares at $0.15/share -- continuing a heavily dilutive financing pattern.
15 July 2020capital raising announcement▼ Bad
Viking converted a separate $1,350,000 Radium2 Capital note into about 11.1 million shares -- a second, distinct Radium2 obligation from the one paid off in cash days earlier, both cleared within the same month.
15 July 2020securities registration● Neutral
VIKING ENERGY GROUP, INC. filed notice of an exempt private placement.
15 July 2020securities registration● Neutral
VIKING ENERGY GROUP, INC. filed notice of an exempt private placement.
8 July 2020capital raising announcement▼ Bad
Viking raised a small $500,000 bridge note from Granite Global Value Investments Ltd. at 12% interest, convertible at $0.15/share, earmarked partly to support a potential future up-listing to a national exchange.
7 July 2020business combination● Neutral
Viking and Camber issued another joint press release updating investors on the still-pending merger's status, without new substantive terms.