Petro Viking Energy Inc. (CNSX:VIK) agreed to acquire Mineral rights, associated wells, pipelines and facilities at West Central Alberta from 611890 Alberta Inc. for CAD 19.7 million on June 14, 2021. The consideration for the acquisition is being satisfied by issuance of 40.44 million class A common shares and 30 million convertible preferred shares convertible at a price of CAD 0.80 per share. Preference shares are convertible into common shares at 1:1 ratio. The Convertible Shares shall have a term of five years (5) and earn an accruing annual dividend at a rate of two percent (2%), payable upon conversion. The Conversion of the Convertible Shares at the election of the holder can only occur after one of three milestones has been achieved: a) the Company exceeds the production rate of 3,000 boe/d, b) the Common Shares trade at a volume weighted average price (VWAP) of more than CAD 1.00 per share for twenty (20) consecutive business days or c) the second year anniversary since the issuance of the Common Shares has occurred. An advisory & finder’s fee, based on approved CSE guidelines, will be payable upon closing to an arm’s length third party which has assisted the Company in coordinating and negotiating this transaction. The closing of the transaction is subject to the execution of a comprehensive purchase and sale agreement for the assets and remains subject to the execution of an all related applications and approvals necessary as would be customary within the industry in parallel to submission of all necessary applications and approvals including shareholders and the Canadian Stock Exchange. As of September 28, 2021 Resumption of trading of Petro Viking Energy Inc common shares remains subject to the approval of the Avila Transaction by the CSE. As of August 16, 2021 Leonard Van Betuw newly appointed President and Chief Executive Officer of Petro Viking Energy Inc. As of July 23, 2021, management of Petro Viking Energy Inc. recommends that shareholders vote in favor of the transaction. The closing of the transaction is expected on or before October 31, 2021. Petro Viking Energy Inc. (CNSX:VIK) completed the acquisition of Mineral rights, associated wells, pipelines and facilities at West Central Alberta from 611890 Alberta Inc. on August 16, 2021.