Viking Closes Acquisition Re: Electric Transmission & Open Conductor Detection Technologies

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Feb 15, 2022

HOUSTON, TX / ACCESSWIRE / February 15, 2022 / Viking Energy Group, Inc. (OTCQB:VKIN) ("Viking" or the "Company") is pleased to announce it acquired on February 9, 2022 a 51% interest in two entities that own the intellectual property rights to fully developed, patent pending, ready-for-market proprietary Electric Transmission and Distribution Open Conductor Detection Systems. The purchase price for the interests acquired by Viking is up to $21,000,000, with $5,000,000 payable in shares of Viking on closing (i.e. $250,000 in common stock and $4,750,000 in preferred stock) and the balance payable upon certain sales thresholds being achieved, as further outlined below: