Viking Investments Group announces Investment Banking Agreement with BAO Capital Sarl
NEW YORK, NY— (Marketwired – February 9th, 2015) – On February 7th, 2015, Viking Investments Group, Inc. (“Viking”) (OTC: VKIN) and Cytron Capital Group Inc. (“Cytron”) executed an Agreement (the “BAO Agreement”) with BAO Capital Sarl (“BAO”), a BAO Group Company, pursuant to which BAO has agreed to work with Viking and Cytron with effecting a USD$500M bond financing in Mauritius (the “Bond Transaction”). Proceeds from the Bond Transaction, if successful, will be used to complete, among others, the transactions announced on February 3rd, 4th and 5th, 2015 regarding the Halfmoon Bay, Riverwood and Cytron Gravel deals, respectively.
Under the BAO Agreement, BAO has agreed to work with Viking and Cytron with preparing the materials required for the Bond Transaction, identifying and introducing potential purchasers of the bond to Viking, making presentations to prospective purchasers, advising on relevant issues regarding structuring and closing the transaction, and participating in any selling group assembled to sell any securities or debt related to the bond (collectively, the “Services”). BAO will be responsible for listing the bond on The Stock Exchange of Mauritius.
In exchange for the Services, the BAO Agreement contemplates BAO receiving an initial retainer fee, an ongoing monthly retainer, and a cash success fee on closing of the Bond Transaction. Cytron is responsible for paying the initial and ongoing retainer fees. The minimum term of the BAO Agreement is 90 days, after which it may be terminated by any party upon 30 days’ written notice to the other party.
Viking aims to acquire, invest in and provide professional advisory and consulting services to companies undergoing or anticipating periods of rapid growth,significant change or ownership transition. Viking’s primary focus is directed toward evaluating and completing investments in North America, mainly in the Oil & Gas and Real Estate sectors, with appropriate diversification and balance between each division. Viking targets under-valued investments with realistic appreciation potential and a defined exit strategy.
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