Brief: Camber Energy Inc Acquires 51% Of Viking Energy Group, I
24/12/2020 18:09
Dec 24 (Reuters) - Camber Energy Inc CEI.A :
* CAMBER ENERGY INC - ACQUIRED 51% OF ISSUED AND OUTSTANDING
COMMON STOCK OF VIKING FOR $20.1 MILLION
* CAMBER ENERGY - PURCHASE PRICE PAYABLE THROUGH CANCELATION
OF
$9.2 MILLION OF EXISTING DEBT OWED BY VIKING TO CAMBER, CASH
PAYMENT OF $10.9 MILLION
* CAMBER ENERGY INC - FUNDS TO FACILITATE CASH PAYMENT WERE
PROVIDED TO CAMBER VIA LOAN FROM EXISTING PREFERRED STOCKHOLDER
* CAMBER ENERGY INC - JAMES DORIS IS COMPANY'S NEW PRESIDENT
& CEO
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