Avila Energy Advances Private Placement Offerings

Petro Viking Energy Inc. (TSE:VIK) has released an update.

Avila Energy Corporation is set to proceed with additional closings of its non-brokered private placement, targeting to raise up to $3 million through the sale of units at $0.05 each, including share purchase warrants. The company has already completed a first tranche, garnering over $1 million, with a second tranche expected soon. Proceeds from this fundraising effort are slated for general working capital purposes.

For further insights into TSE:VIK stock, check out TipRanks’ Stock Analysis page.