Viking Energy's Majority-Owned Subsidiary, Simson-Maxwell Ltd., Appointed Exclusive Manufacturer and Vendor of Medical & Bio-Hazard Waste Treatment System
03 Febbraio 2022 - 4:32PM
InvestorsHub NewsWire
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Viking Energy's
Majority-Owned Subsidiary, Simson-Maxwell Ltd., Appointed
Exclusive Manufacturer and Vendor of
Medical &
Bio-Hazard Waste Treatment System
HOUSTON, TX –
February 3, 2022 -- InvestorsHub NewsWire -- Viking Energy
Group, Inc. (OTCQB:VKIN)
(“Viking” or the “Company”) announced on January
24th, 2022, the closing of a joint venture regarding the
acquisition of 51% of Viking Ozone Technology, LLC (“VOT”),
which owns the intellectual property rights to a fully developed,
patent pending, ready-for-market proprietary Medical &
Bio-Hazard Waste Treatment system, using Ozone Technology (the
“Ozone System”).
Viking is pleased to further announce that on January 28,
2022 VOT entered into a Manufacturing and License Agreement with
Simson-Maxwell Ltd. (“Simson-Maxwell”), Viking’s
majority-owned subsidiary, pursuant to which Simson-Maxwell was
granted exclusive worldwide rights to manufacture, market
and sell the Ozone System.
Daryl Kruper, Chairman of Simon-Maxwell,
commented “Entering into this license arrangement provides
Simson-Maxwell with a significant, high-margin revenue opportunity.
We will be able to manufacture the Ozone System using
existing infrastructure and personnel, with nominal, if any, capex
investment. Simson-Maxwell has been in business for over 80
years and is a respected designer and manufacturer of custom energy
systems. Manufacturing the Ozone System is a perfect fit for
our experienced team of engineers and other professionals, and
this venture will be prioritized to meet anticipated
demand. We are grateful for the opportunities our
relationship with Viking has provided thus far, and are excited to
enter this market.”
Simson-Maxwell has already
been approved as a vendor for the purpose of selling the Ozone
System within the National Health Service (NHS) foundation trust in
the United Kingdom which manages hundreds of hospitals.
James A. Doris, President
and Chief Executive Officer of Viking, commented “We are
extremely pleased to be able to leverage the expertise within
Simson-Maxwell to introduce this industry-leading Medical and
Bio-hazard waste-treatment technology to the market. This
initiative is an integral part of our overall strategy to pursue
proven, innovative, sustainable and environmentally-friendly
products and technologies.”
Additional details regarding the proposed
transaction were included in, and the description above is
qualified in its entirety by reference to, Viking’s Current Report
on Form 8-K filed with the Securities and Exchange Commission
(“SEC”) on February 3, 2022, and is available under
“investors” – “SEC filings” at www.vikingenergygroup.com.
About Viking:
Based in Houston, Texas, Viking Energy Group, Inc.
is a growth-oriented diversified energy company. Through various
majority-owned subsidiaries, Viking 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 also holds an exclusive
license in Canada to a patented carbon-capture system. For
more information, please visit the company's website at
www.vikingenergygroup.com.
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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 Viking’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)
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