Avila Energy’s Capital Boost and Debt-to-Equity Plan

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

Avila Energy Corporation is launching a private placement offering to raise up to $2.4 million, with the sale of 80 million units at $0.03 each, including warrants. Additionally, the company plans to convert up to $600,000 of debt into equity, issuing common shares to service providers at the same unit price. The funds raised will bolster Avila’s working capital, with securities under a standard four-month-plus-one-day hold period.

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