Avila Energy Finalizes Initial Private Placement

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

Avila Energy Corporation has successfully completed the first tranche of its non-brokered private placement, raising $368,790 by issuing over 12 million units at $0.03 each. These units include a common share and a half warrant, which allows the holder to purchase an additional share at $0.12 within 24 months. CEO Leonard Van Betuw participated in the placement, which was exempt from certain regulatory requirements due to the transaction size.

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