Current Report Filing (8-k)
May 03 2019 - 10:23AM
Edgar (US Regulatory)
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 OR 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported):
May 1, 2019
Viking Energy Group, Inc.
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(Exact name of registrant as specified in its charter)
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Nevada
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000-29219
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98-0199508
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(State or other jurisdiction
of incorporation)
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(Commission
File Number)
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(IRS Employer
Identification Number)
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15915 Katy Freeway
Suite 450, Houston, Texas
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77094
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(Address of principal executive offices)
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(zip code)
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(281) 404-4387
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(Registrant’s telephone number, including area code)
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_____________________________________________
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(former name or former address, if changed since last report)
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Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
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Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
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Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
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Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
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Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
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Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company
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If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.
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ITEM 8.01 OTHER EVENTS.
On May 1, 2019, Mid-Con Development, LLC (“Mid-Con”), one of the subsidiaries of the registrant, Viking Energy Group, Inc. (“Viking”), sold to an independent third party all of its interests in the oil and gas assets Mid-Con owned in Ellis and Rooks Counties, Kansas, consisting of working interests in approximately 41 oil leases comprising several thousand acres. The sale price was $4,100,000, $3,800,000 of which was applied toward the reserve-based loan (“RBL”) previously provided by CrossFirst Bank to Mid-Con and certain of Viking’s other subsidiaries. The principal balance of the RBL was reduced from approximately $11,400,000 to approximately $7,600,000 as a result of the payment. The balance of the sale proceeds were used for transaction costs and working capital purposes.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
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Viking Energy Group, Inc.
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Dated: May 3, 2019
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By:
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/s/ James Doris
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James Doris
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CEO & Director
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