Viking Energy Group Inc (OTCMKTS: VKIN) announced the accomplishment of the next deal with Camber Energy, Inc. This growth-oriented organization leverages its professionals’ relationships to create diversified energy and power solutions. Moreover, Camber Energy is the majority-owned shareholder of Viking Energy Group. The deal following which camber Energy purchased $11 million of the common stock of Viking.
The transactions’ revenues are to be acquired by Viking to facilitate the acquisition of a 60.5% interest approximately in a firm engaged in the manufacture and supply of products of power generation, services, supply of industrial engines, and solutions of custom energy. In addition, to ease the execution of a potential agreement with the license of a carbon capture system patented and used exclusively in Canada for a limited number of places in the U.S. Moreover, for working capital uses.
Viking Energy Obtained Majority Interest in Simson Maxwell Ltd.
On Aug 9, Viking announced the purchase of a majority interest in Simson-Maxwell Ltd, a leading manufacturer, and supplier of generation products, industrial engines, and custom energy solutions, include an existing shareholder of Simson Maxwell Simmax Corp, Remora. The total acquisition share interest is approximately 60.5%. Moreover, Simson Maxwell integrates technology with superior products to provide global energy sustainability.
James Doris’s Statement
Viking’s President and Chief Executive Officer, James Doris, said that they are excited to work with Simson-Maxwell and step toward strengthening the platform and recognizable brand to position the firm for further expansion throughout North America through the residue of this year.
Daryl Kruper’s Statement
Chairman of Simson Maxwell, Daryl Kruper, said that the entire team was thrilled to partner with Viking and Remora. Carrying Viking as a Stakeholder advance the customized service offering and expedites the growth strategy of the Simson Maxwell. The firm operating for 80 years, and its diverse group of employees at seven branches services over 4,000 maintenance contracts and help with satisfying the power and energy solution demand of the firm’s customer base.