Investor Relations
HOUSTON, TX / ACCESSWIRE / December 21, 2021 / Camber Energy, Inc. (NYSE:American) ("Camber" or the "Company") is pleased to announce that Institutional Shareholder Services Inc. ("ISS") and Glass, Lewis & Co., LLC ("Glass Lewis") have recommended that Camber shareholders vote "FOR" Item 1 set forth in its Definitive Proxy Statement filed with the Securities and Exchange Commission on November 29, 2021 (the "Proxy"), in connection with its Special Meeting, which seeks to amend Camber's Articles of Incorporation to increase the number of authorized shares of common stock from 250,000,000 to 1,000,000,000 shares. Both firms have also recommended a vote in favor of Item 2 set out in the Company's Proxy.
The Special Meeting will be held on December 30th, 2021 at 10:00 a.m. CT and will be held virtually via live audio webcast at https://agm.issuerdirect.com/cei.
About Institutional Shareholder Services Inc. and Glass, Lewis & Co., LLC
ISS and Glass Lewis are two leading proxy advisory firms who provide independent voting recommendations to institutional investors.
About Camber Energy, Inc.
Camber Energy, Inc. is a growth-oriented diversified energy company. Through its majority-owned subsidiary, Camber provides custom energy & power solutions to commercial and industrial clients in North America and owns interests in oil and natural gas assets in the United States The company's majority-owned subsidiary also holds an exclusive license in Canada to a patented carbon-capture system. For more information, please visit the company's website at www.camber.energy.
Forward-Looking Statements
This press release may contain forward-looking information within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and Section 27A of the Securities Act of 1933, as amended. Any statements that are not historical facts contained in this press release are "forward-looking statements", which statements may be identified by words such as "expects," "plans," "projects," "will," "may," "anticipates," "believes," "should," "intends," "estimates," and other words of similar meaning. Such forward-looking statements are based on current expectations, involve known and unknown risks, a reliance on third parties for information, transactions that may be cancelled, and other factors that may cause our actual results, performance or achievements, or developments in our industry, to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking statements. Factors that could cause actual results to differ materially from anticipated results include risks and uncertainties related to the fluctuation of global economic conditions or economic conditions with respect to the oil and gas industry, the COVID-19 pandemic, the performance of management, actions of government regulators, vendors, and suppliers, our cash flows and ability to obtain financing, competition, general economic conditions and other factors that are detailed in Camber's filings with the Securities and Exchange Commission. We intend that all forward-looking statements be subject to the safe-harbor provisions.
Contact Information
Investors and Media:
Tel. 281.404.4387 (ext.3)
SOURCE: Camber Energy, Inc.
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HOUSTON, TX / ACCESSWIRE / December 20, 2021 / Camber Energy, Inc. (NYSE American:CEI) ("Camber" or the "Company), announced that on December 17, 2021 it received a letter from the NYSE American (the "Exchange") in response to the Company's request for an extension of the date by which the Company is to file outstanding financial reports.
The Company is not in compliance with the Exchange's continued listing standards as set forth in Section 1007 of the NYSE American Company Guide (the "Company Guide") given the Company failed to timely file (the "Filing Delinquency") the following reports (collectively, the "Delayed Reports"): (i) Form 10-K for the 9-month transition period ended December 31,2020; (ii) Form 10-Q for the period ended March 31, 2021; and (iii) Form 10-Q for the period ended June 30, 2021. The Filing Delinquency will be cured via the filing of the Delayed Reports.
The Company intended to remedy the Filing Delinquency on or before December 17, 2021, however due to certain circumstances requested the Exchange grant the Company a brief extension of time by which to file the Delayed Reports. The Exchange accepted the Company's request and has allowed the Company until January 14, 2022 to file the Delayed Reports.
If the Company is unable to cure the delinquency by January 14, 2022, the Company may request an additional extension up to the maximum cure period of May 20, 2022. NYSE Regulation staff will review the Company periodically for compliance with adherence to the milestones in the plan. In addition, if the Company does not make progress consistent with the plan during the plan period or if the Company does not complete its Delayed Filings and any subsequently delayed filings with the SEC by the end of the maximum cure period on May 20, 2022, Exchange staff will initiate delisting proceedings as appropriate. The Company may appeal a staff delisting determination in accordance with Section 1010 and Part 12 of the Company Guide.
Receipt of the letter does not have any immediate effect on the listing of the Company's shares on the Exchange, except that until the Company regains compliance with the Exchange's listing standards, a "BC" indicator will be affixed to the Company's trading symbol. The Company's business operations and SEC reporting requirements are unaffected by the notification, provided that if the Filing Delinquency is not cured then the Company will be subject to the Exchange's delisting procedures.
The Company is committed to filing the Delayed Reports to achieve compliance with the Exchange's requirements, and, although there are no guarantees it will do so, the Company expects to file the Delayed Reports on or before January 14, 2022.
About Camber Energy, Inc.
Camber Energy, Inc. is a growth-oriented diversified energy company. Through its majority-owned subsidiary, Camber provides custom energy & power solutions to commercial and industrial clients in North America and owns interests in oil and natural gas assets in the United States The company's majority-owned subsidiary also holds an exclusive license in Canada to a patented carbon-capture system. For more information, please visit the company's website at www.camber.energy.
Forward-Looking Statements
This press release may contain forward-looking information within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and Section 27A of the Securities Act of 1933, as amended. Any statements that are not historical facts contained in this press release are "forward-looking statements", which statements may be identified by words such as "expects," "plans," "projects," "will," "may," "anticipates," "believes," "should," "intends," "estimates," and other words of similar meaning. Such forward-looking statements are based on current expectations, involve known and unknown risks, a reliance on third parties for information, transactions that may be cancelled, and other factors that may cause our actual results, performance or achievements, or developments in our industry, to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking statements. Factors that could cause actual results to differ materially from anticipated results include risks and uncertainties related to the fluctuation of global economic conditions or economic conditions with respect to the oil and gas industry, the COVID-19 pandemic, the performance of management, actions of government regulators, vendors, and suppliers, our cash flows and ability to obtain financing, competition, general economic conditions and other factors that are detailed in Camber's filings with the Securities and Exchange Commission. We intend that all forward-looking statements be subject to the safe-harbor provisions.
Contact Information
Investors and Media:
Tel. 281.404.4387 (ext.3)
SOURCE: Camber Energy, Inc.
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Facility Designed to Produce ⁓ 43,000,000 Gallons/yr. of Renewable Diesel
HOUSTON, TX / ACCESSWIRE / December 2, 2021 / Camber Energy, Inc. (NYSE American:CEI) ("Camber" or the "Company") is pleased to announce that on Nov. 18, 2021 its majority-owned subsidiary, Viking Energy Group, Inc. ("Viking"), entered into a Membership Interest Purchase Agreement to acquire a 100% interest in a group of companies that are in the process of engineering, developing, constructing and bringing into commercial operations a processing plant located in Reno, Nevada, which is designed to produce renewable diesel (the "Plant"). The estimated production capacity of the Plant once operational is ⁓ 43,000,000 Gallons per year. The main part of the Plant is ⁓ 95% complete and there is a pre-treatment unit under construction within the Plant that is ⁓ 30% complete.
Renewable diesel fuel, sometimes called green diesel, is a biofuel that is chemically the same as petroleum diesel fuel, and is produced through various thermochemical processes such as hydrotreating, gasification, and pyrolysis. Renewable diesel is made from renewable feedstocks instead of crude oil.
Viking's obligation to close the transaction is conditional on a number of items set out in the Membership Interest Purchase Agreement, including, without limitation Viking having obtained financing, on terms and conditions satisfactory to Viking in its sole discretion. There is no guaranty the conditions will be satisfied.
Additional details regarding the proposed transaction were included in, and the description above is qualified in its entirety by reference to the Membership Interest Purchase Agreement attached as an exhibit to, Camber's Current Report on Form 8-K filed with the Securities and Exchange Commission ("SEC") on November 19, 2021, and is available under "investors" - "SEC filings" at www.camber.energy.
About Camber:
Camber Energy, Inc. ("Camber") is a growth-oriented, diversified energy company. Through its majority-owned subsidiary, Viking Energy Group, Inc. ("Viking"), or subsidiaries of Viking, Camber provides custom energy & power solutions to commercial and industrial clients in North America and owns interests in oil and natural gas assets in the United States. Viking also holds an exclusive license in Canada to a patented carbon-capture system. For more information, please visit the company's website at www.camber.energy.
Forward-Looking Statements
This press release may contain forward-looking information within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and Section 27A of the Securities Act of 1933, as amended. Any statements that are not historical facts contained in this press release are "forward-looking statements", which statements may be identified by words such as "expects," "plans," "projects," "will," "may," "anticipates," "believes," "should," "intends," "estimates," and other words of similar meaning. Such forward-looking statements are based on current expectations, involve known and unknown risks, a reliance on third parties for information, transactions that may be cancelled, and other factors that may cause our actual results, performance or achievements, or developments in our industry, to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking statements. Factors that could cause actual results to differ materially from anticipated results include risks and uncertainties related to the fluctuation of global economic conditions or economic conditions with respect to the oil and gas industry, the COVID-19 pandemic, the performance of management, actions of government regulators, vendors, and suppliers, our cash flows and ability to obtain financing, competition, general economic conditions and other factors that are detailed in Camber's filings with the Securities and Exchange Commission. We intend that all forward-looking statements be subject to the safe-harbor provisions.
Contact Information
Investors and Media:
Tel. 281.404.4387 (ext.3)
SOURCE: Camber Energy, Inc.
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HOUSTON, TX / ACCESSWIRE / November 22, 2021 / Camber Energy, Inc. (NYSE American:CEI) ("Camber" or the "Company, announced that on November 19, 2021 it received a letter from the NYSE American(the "Exchange") in response to the Company's request for an extension of the date by which the Company is to file outstanding financial reports.
The Company is not in compliance with the Exchange's continued listing standards as set forth in Section 1007 of the NYSE American Company Guide (the "Company Guide") given the Company failed to timely file (the "Filing Delinquency") the following reports (collectively, the "Delayed Reports"): (i) Form 10-Kforthe 9-month transition period ended December 31, 2020; (ii) Form 10-Q for the period ended March 31, 2021; and (iii) Form 10-Q for the period ended June 30, 2021. The Filing Delinquency will be cured via the filing of the Delayed Reports.
The Company originally intended to remedy the Filing Delinquency on or before November 19, 2021, however due to certain circumstances the Company requested the Exchange grant the Company a brief extension of time by which to file the Delayed Reports. The Exchange accepted the Company's request and has allowed the Company until December 17, 2021 to file the Delayed Reports.
If the Company is unable to cure the delinquency by December 17, 2021, the Company may request an additional extension up to the maximum cure period of May 20, 2022. NYSE Regulation staff will review the Company periodically for compliance with adherence to the milestones in the plan. In addition, if the Company does not make progress consistent with the plan during the plan period or if the Company does not complete its Delayed Filings and any subsequently delayed filings with the SEC by the end of the maximum12-month cure period on May 20, 2022, Exchange staff will initiate delisting proceedings as appropriate. The Company may appeal a staff delisting determination in accordance with Section 1010 and Part 12 of the Company Guide.
Receipt of the letter does not have any immediate effect on the listing of the Company's shares on the Exchange, except that until the Company regains compliance with the Exchange's listing standards, a "BC" indicator will be affixed to the Company's trading symbol. The Company's business operations and SEC reporting requirements are unaffected by the notification, provided that if the Filing Delinquency is not cured then the Company will be subject to the Exchange's delisting procedures.
The Company is committed to filing the Delayed Reports to achieve compliance with the Exchange's requirements, and, although there are no guarantees it will do so, the Company expects to file the Delayed Reports on or before December 17, 2021.
About Camber Energy, Inc.
Camber Energy, Inc. is a growth-oriented diversified energy company. Through its majority-owned subsidiary, Camber provides custom energy & power solutions to commercial and industrial clients in North America and owns interests in oil and natural gas assets in the United States The company's majority-owned subsidiary also holds an exclusive license in Canada to a patented carbon-capture system. For more information, please visit the company's website at www.camber.energy.
Contact Information:
Investors and Media:
Tel. 281.404.4387 (ext.3)
SOURCE: Camber Energy, Inc.
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https://www.accesswire.com/673958/CamberEnergyDisclosesCommunicationFromNYSEAmerican
Company Remains Focused on Growth Strategy
HOUSTON, TX / ACCESSWIRE / October 5, 2021 / Camber Energy, Inc. (NYSE (Amex):CEI) ("Camber" or the "Company") has been made aware of the "Short" report issued today by Kerrisdale Capital. Regarding such report James Doris, President and Chief Executive Officer of Camber, commented, "We are not involved in, nor do we comment on, the day-to-day trading of the company's common stock. I can say, however, that our business relationships are legitimate and that we are firmly committed to improving the organization's capitalization and executing on our growth strategy. With respect to the Company's public filings, our objective is for the Company to become current on or before the expiry of the Initial Cure Period as established by the New York Stock Exchange, which is on or about November 19, 2021."
Additional details regarding the timeline for the Company to file certain reports were included in Camber's Current Report on Form 8-K filed with the Securities and Exchange Commission ("SEC") on May 24, 2021, and is available under "investors" - "SEC filings" at www.camber.energy.
About Camber:
Based in Houston, Texas, Camber Energy, Inc. is a growth-oriented energy company. Through a majority-owned subsidiary, Camber owns interests in oil and natural gas assets in the United States, and provides custom energy solutions to commercial and industrial clients in North America. For more information, please visit the company's website at www.camber.energy.
Forward-Looking Statements
This press release may contain forward-looking information within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and Section 27A of the Securities Act of 1933, as amended. Any statements that are not historical facts contained in this press release are "forward-looking statements", which statements may be identified by words such as "expects," "plans," "projects," "will," "may," "anticipates," "believes," "should," "intends," "estimates," and other words of similar meaning. Such forward-looking statements are based on current expectations, involve known and unknown risks, a reliance on third parties for information, transactions that may be cancelled, and other factors that may cause our actual results, performance or achievements, or developments in our industry, to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking statements. Factors that could cause actual results to differ materially from anticipated results include risks and uncertainties related to the fluctuation of global economic conditions or economic conditions with respect to the oil and gas industry, the COVID-19 pandemic, the performance of management, actions of government regulators, vendors, and suppliers, our cash flows and ability to obtain financing, competition, general economic conditions and other factors that are detailed in Camber's filings with the Securities and Exchange Commission. We intend that all forward-looking statements be subject to the safe-harbor provisions.
Contact Information:
Investors and Media:
Tel. 281.404.4387 (ext.3)
SOURCE: Camber Energy, Inc.
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System Designed to Capture ⁓ 100% of CO2 & Produce Saleable Commodities
HOUSTON, TX / ACCESSWIRE / August 24, 2021 / Camber Energy, Inc. (NYSE American:CEI) ("Camber" or the "Company") is pleased to announce its majority-owned subsidiary, Viking Energy Group, Inc., entered into an Exclusive Intellectual Property License Agreement with ESG Clean Energy, LLC ("ESG") regarding ESG's patent rights and know-how related to stationary electric power generation, including methods to utilize heat and capture carbon dioxide (the "ESG Clean Energy System"). The license is exclusive for all of Canada (unlimited number of systems), and non-exclusive for up to twenty-five locations in the United States.
The ESG Clean Energy System is designed to generate clean electricity from internal combustion engines and utilize waste heat to capture ⁓ 100%of the carbon dioxide (CO2) emitted from the engine without loss of efficiency, and in a manner to facilitate the production of precious commodities (e.g. distilled/ de-ionized water; UREA (NH4); ammonia (NH3); ethanol; and methanol) for sale.
James Doris, President and Chief Executive Officer of Camber, commented, "In my view this transaction positions us as an industry leader in terms of being able to assist with the power generation needs of commercial and industrial organizations while at the same time helping them reduce their carbon footprint to satisfy regulatory requirements or to simply follow best ESG-practices. We are excited to be able to use the platform of Simson-Maxwell Ltd., our recently acquired majority-owned subsidiary, to promote the ESG Clean Energy System."
In addition to electrical power generation, the ESG Clean Energy System is designed to be utilized within a number of different environments, including:
Additional details regarding the transaction were included in Camber's Current Report on Form 8-K filed with the Securities and Exchange Commission ("SEC") on August 23, 2021, and is available under "investors" - "SEC filings" at www.camber.energy.
About Camber:
Based in Houston, Texas, Camber Energy, Inc. is a growth-oriented energy company. Through a majority-owned subsidiary, Camber owns interests in oil and natural gas assets in the United States, and provides custom energy solutions to commercial and industrial clients in North America. For more information, please visit the company's website at www.camber.energy.
Forward-Looking Statements
This press release may contain forward-looking information within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and Section 27A of the Securities Act of 1933, as amended. Any statements that are not historical facts contained in this press release are 'forward-looking statements', which statements may be identified by words such as 'expects,' 'plans,' 'projects,' 'will,' 'may,' 'anticipates,' 'believes,' 'should,' 'intends,' 'estimates,' and other words of similar meaning. Such forward-looking statements are based on current expectations, involve known and unknown risks, a reliance on third parties for information, transactions that may be cancelled, and other factors that may cause our actual results, performance or achievements, or developments in our industry, to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking statements. Factors that could cause actual results to differ materially from anticipated results include risks and uncertainties related to the fluctuation of global economic conditions or economic conditions with respect to the oil and gas industry, the COVID-19 pandemic, the performance of management, actions of government regulators, vendors, and suppliers, our cash flows and ability to obtain financing, competition, general economic conditions and other factors that are detailed in Camber's filings with the Securities and Exchange Commission. We intend that all forward-looking statements be subject to the safe-harbor provisions.
Contact Information
Investors and Media:
Tel. 281.404.4387 (ext.3)
SOURCE: Camber Energy, Inc.
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Subsidiary's Revenues were $10.7 Million for the Quarter / $21.19 Million YTD
HOUSTON, TX / ACCESSWIRE / August 17, 2021 / Camber Energy, Inc. (NYSE American:CEI) ("Camber" or the "Company") is pleased to report that its majority-owned subsidiary, Viking Energy Group, Inc. ("Viking"), announced on August 16, 2021 Viking's financial results for the quarter ended June 30, 2021.
James Doris, President and Chief Executive Officer of both Camber and Viking, commented, "We are pleased with Viking's second quarter results, and are very excited about steps we have taken subsequent to the end of Q2 to strengthen the organization, including Viking's recent acquisition of a majority interest in Simson-Maxwell Ltd., a leading power generation and energy solutions company."
Viking's Revenue for the Quarters Ended June 30:
|
Viking Energy Group, Inc. |
2019 |
2020 |
2021 |
|
2nd Quarter Revenue |
$8,734,323 |
$9,549,863 |
$10,696,633 |
Note: The figures referenced above are approximate. For specific amounts and further details please refer to Viking's filings with the Securities and Exchange Commission ('SEC'), including Viking's Quarterly Report on Form 10-Q for the quarter ended June 30, 2021 filed on August 16, 2021 with the SEC and available under 'Investors - SEC Filings' at www.vikingenergygroup.com.
Camber's Interest in Viking:
Camber owned approximately 62% of the issued and outstanding common shares of Viking during Q2, and increased its interest to approximately 73% on or about July 29, 2021. Camber acquired its interest in Viking through the transactions described in Camber's Current Reports on Form 8-K filed with the Securities and Exchange Commission ('SEC') on December 24, 2020, January 13, 2021 and July 30, 2021, and which are available under "investors" - "SEC filings" at www.camber.energy.
About Camber:
Based in Houston, Texas, Camber Energy (NYSE American: CEI) is a growth-oriented energy company. Through its majority-owned subsidiary, Viking Energy Group, Inc., Camber owns interests in oil and natural gas assets in the Gulf Coast and Mid-Continent regions and has an interest in Simson-Maxwell Ltd., a power generation and energy solutions company located in Western Canada. For more information, please visit the company's website at www.camber.energy.
Forward-Looking Statements
This press release may contain forward-looking information within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and Section 27A of the Securities Act of 1933, as amended. Any statements that are not historical facts contained in this press release are 'forward-looking statements', which statements may be identified by words such as "expects," "plans," "projects," "will," "may," "anticipates," "believes," "should," "intends," "estimates," and other words of similar meaning. Such forward-looking statements are based on current expectations, involve known and unknown risks, a reliance on third parties for information, transactions that may be cancelled, and other factors that may cause our actual results, performance or achievements, or developments in our industry, to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking statements. Factors that could cause actual results to differ materially from anticipated results include risks and uncertainties related to the fluctuation of global economic conditions or economic conditions with respect to the oil and gas industry, the COVID-19 pandemic, the performance of management, actions of government regulators, vendors, and suppliers, our cash flows and ability to obtain financing, competition, general economic conditions and other factors that are detailed in Camber's filings with the Securities and Exchange Commission. We intend that all forward-looking statements be subject to the safe-harbor provisions.
Contact Information
Investors and Media:
Tel. 281.404.4387 (ext.3)
SOURCE: Camber Energy, Inc.
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A Significant Step in the Company's Diversification Strategy
HOUSTON, TX / ACCESSWIRE / August 9, 2021 / Camber Energy, Inc. (NYSE American:CEI) ("Camber" or the "Company") is pleased to announce the acquisition, through its majority-owned subsidiary, of a majority interest (⁓ 60.5%) in Simson-Maxwell Ltd. ('Simson-Maxwell'). Other shareholders include Simmax Corp., an existing shareholder of Simson-Maxwell for ⁓ 20 years, and Remora EQ LP, another strategic stakeholder.
Simson-Maxwell is a leading manufacturer and supplier of industrial engines, power generation products, services and custom energy solutions. The company integrates innovative technology with superior products to contribute to global energy sustainability. Operating for over 80 years, Simson Maxwell's diverse group of employees at seven branch locations service over ⁓ 4,000 maintenance contracts and assist with satisfying the energy and power-solution demands of the company's entire customer-base.
James Doris, President and Chief Executive Officer of Camber, commented, 'We are very excited to be working with Remora and the entire Simson-Maxwell team, and look forward to further strengthening an already-established platform and recognizable brand to position the company for additional expansion throughout North America through the remainder of this year and beyond.'
Daryl Kruper, Chairman of Simson-Maxwell, commented, "Our team is thrilled to partner with Remora and Viking. Having Camber as a stakeholder allows us to enhance our unique, customized service offering and to expedite our growth strategy."
Additional details regarding the transaction were included in Camber's Current Report on Form 8-K filed with the Securities and Exchange Commission ('SEC') on August 9, 2021, and is available under "investors" - "SEC filings" at www.camber.energy.
About Camber:
Based in Houston, Texas, Camber Energy, Inc. is a growth-oriented energy company. Through its majority-owned subsidiary, Viking Energy Group, Inc., Camber owns interests in oil and natural gas assets in the Gulf Coast and Mid-Continent regions. For more information, please visit the company's website at www.camber.energy.
About Simson-Maxwell Ltd.:
Simson-Maxwell is a leading manufacturer and supplier of industrial engines, power generation products, services and custom energy solutions. The company provides commercial and industrial clients with efficient, flexible, environmentally responsible and clean-tech energy systems involving a wide variety of products, including: CHP (combined heat and power), tier 4 final diesel and natural gas industrial engines, as well as solar, wind, and energy storage. Simson Maxwell also designs and assembles a complete line of electrical control equipment including switch gear, synchronization and paralleling gear, distribution, Bi-Fuel and complete power generation production controls. Operating for over 80 years, Simson Maxwell's seven branches assist with servicing over 4,000 existing maintenance contracts and meeting the energy and power-solution demands of the company's other customers. Simson Maxwell allows its customers the ability to take their power for granted and focus on what they do best.
Simson-Maxwell is headquartered in Edmonton, Alberta, Canada. For more information please visit https://www.simson-maxwell.com/.
Forward-Looking Statements
This press release may contain forward-looking information within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and Section 27A of the Securities Act of 1933, as amended. Any statements that are not historical facts contained in this press release are "forward-looking statements", which statements may be identified by words such as "expects," "plans," "projects," "will," "may," "anticipates," "believes," "should," "intends," "estimates," and other words of similar meaning. Such forward-looking statements are based on current expectations, involve known and unknown risks, a reliance on third parties for information, transactions that may be cancelled, and other factors that may cause our actual results, performance or achievements, or developments in our industry, to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking statements. Factors that could cause actual results to differ materially from anticipated results include risks and uncertainties related to the fluctuation of global economic conditions or economic conditions with respect to the oil and gas industry, the COVID-19 pandemic, the performance of management, actions of government regulators, vendors, and suppliers, our cash flows and ability to obtain financing, competition, general economic conditions and other factors that are detailed in Camber's filings with the Securities and Exchange Commission. We intend that all forward-looking statements be subject to the safe-harbor provisions.
Contact Information
Investors and Media:
Tel. 281.404.4387 (ext.3)
SOURCE: Camber Energy, Inc.
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Positions Viking for Potential Acquisition & Exclusive License Arrangement
HOUSTON, TX / ACCESSWIRE / July 30, 2021 / Camber Energy, Inc. (NYSE American:CEI) ("Camber" or the "Company") is pleased to announce the completion of another deal with its majority-owned subsidiary, Viking Energy Group, Inc. (OTCQB:VKIN) ("Viking"), pursuant to which Camber purchased $11 million worth of common stock of Viking.
The proceeds from the transaction are to be used by Viking to (i) facilitate the potential acquisition of an approximate 60.5% interest in a company engaged in the manufacture and supply of industrial engines, power generation products, services and custom energy solutions; (ii) facilitate the potential execution of an agreement with respect to the license of a patented carbon-capture system for exclusive use in Canada and for a specified number of locations in the United States; and (iii) for general working capital purposes.
Additional details regarding the transaction were included in Camber's and Viking's Current Reports on Form 8-K filed with the Securities and Exchange Commission ("SEC") on July 30, 2021, and are available under "investors" - "SEC filings" at www.camber.energy and www.vikingenergygroup.com.
About Camber:
Based in Houston, Texas, Camber Energy (NYSE American: CEI) is a growth-oriented energy company. Through its majority-owned subsidiary, Viking Energy Group, Inc., Camber owns interests in oil and natural gas assets in the Gulf Coast and Mid-Continent regions. For more information, please visit the company's website at www.camber.energy.
About Viking:
Viking is a growth-oriented energy company, and has an existing Oil & Gas division with interests in properties in Texas, Louisiana, Mississippi and Kansas. Viking targets undervalued assets with realistic appreciation potential.
Forward-Looking Statements
This press release may contain forward-looking information within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and Section 27A of the Securities Act of 1933, as amended. Any statements that are not historical facts contained in this press release are "forward-looking statements", which statements may be identified by words such as "expects," "plans," "projects," "will," "may," "anticipates," "believes," "should," "intends," "estimates," and other words of similar meaning. Such forward-looking statements are based on current expectations, involve known and unknown risks, a reliance on third parties for information, transactions that may be cancelled, and other factors that may cause our actual results, performance or achievements, or developments in our industry, to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking statements. Factors that could cause actual results to differ materially from anticipated results include risks and uncertainties related to the fluctuation of global economic conditions or economic conditions with respect to the oil and gas industry, the COVID-19 pandemic, the performance of management, actions of government regulators, vendors, and suppliers, our cash flows and ability to obtain financing, competition, general economic conditions and other factors that are detailed in Camber's and Viking's respective filings with the Securities and Exchange Commission. We intend that all forward-looking statements be subject to the safe-harbor provisions.
Contact Information
Investors and Media:
Tel. 281.404.4387 (ext.3)
SOURCE: Camber Energy, Inc.
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https://www.accesswire.com/657752/Camber-Energy-Announces-Additional-Equity-Investment-in-Viking-Energy
In Separate Transaction Camber Extends Maturity Date of P. Notes & Adds Fixed Conversion Feature
HOUSTON, TX / ACCESSWIRE / July 14, 2021 / Camber Energy, Inc. (NYSE American:CEI) ('Camber' or the 'Company') is pleased to announce it closed a $15,000,000 equity transaction from an Institutional Investor. The Company plans to use the funds for working capital, new acquisitions (directly or through the Company's majority-owned subsidiary), and other purposes.
In a separate transaction, the Company extended the maturity date of existing promissory notes from December 11, 2022 to January 1, 2024, and incorporated a conversion feature in each of the promissory notes entitling the holder to convert all or a portion of the principal amount(s) into shares of common stock of the Company at a fixed conversion price of $1.25 per share, which equates to an approx. 117% premium from the closing price of the common shares on July 9, 2021.
James Doris, President and Chief Executive Officer of Camber, commented, 'These transactions serve as significant catalysts for advancing Camber's growth initiatives. The $15M commitment by the institutional investor is encouraging and seemingly reflective of the confidence in Camber and our operations both short and long term. We are excited about the Company's future and remain focused on forging a path toward profitability and increasing shareholder value.'
For further details please refer to Camber's Current Reports on Form 8-K filed on July 12, 2021 with the Securities and Exchange Commission and available under 'Investors -- SEC Filings' at www.camber.energy.
About Camber:
Based in Houston, Texas, Camber Energy (NYSE American: CEI) is a growth-oriented energy company. Through its majority-owned subsidiary, Viking Energy Group, Inc., Camber owns interests in oil and natural gas assets in the Gulf Coast and Mid-Continent regions. For more information, please visit the company's website at www.camber.energy.
Forward-Looking Statements
This press release may contain forward-looking information within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and Section 27A of the Securities Act of 1933, as amended. Any statements that are not historical facts contained in this press release are 'forward-looking statements', which statements may be identified by words such as 'expects,' 'plans,' 'projects,' 'will,' 'may,' 'anticipates,' 'believes,' 'should,' 'intends,' 'estimates,' and other words of similar meaning. Such forward-looking statements are based on current expectations, involve known and unknown risks, a reliance on third parties for information, transactions that may be cancelled, and other factors that may cause our actual results, performance or achievements, or developments in our industry, to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking statements. Factors that could cause actual results to differ materially from anticipated results include risks and uncertainties related to the fluctuation of global economic conditions or economic conditions with respect to the oil and gas industry, the COVID-19 pandemic, the performance of management, actions of government regulators, vendors, and suppliers, our cash flows and ability to obtain financing, competition, general economic conditions and other factors that are detailed in Camber's filings with the Securities and Exchange Commission. We intend that all forward-looking statements be subject to the safe-harbor provisions.
Contact Information
Investors and Media:
Tel. 281.404.4387 (ext.3)
SOURCE: Camber Energy, Inc.
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