Calgary, Alberta – TheNewswire - September 10, 2021 – Petro Viking Energy Inc. (“Petro Viking” or the “Company”) (CNSX:VIK.CN) (OTC:PTRVF) is very pleased to announce that it has secured firm commitments of $2,500,000 in a non-brokered equity financing in the form of units of the Company (each a “Unit”). Each Unit consists of one (1) common share in the capital of the Company (each a “Share”) issued at a price of $0.25 per Share and one-half (1/2) common share purchase warrant, each full warrant entitling the holder thereof to purchase one (1) additional Share for a period of twenty-four (24) months from the date of the issuance for the price of $0.35. The offering has been fully subscribed and closing is expected to take place on Monday September 13, 2021. A finder’s fee may be payable to eligible finder’s or agents per CSE guidelines.

The Company intends to use the proceeds from this financing for general working capital purposes. The Units issued by the Company pursuant to this financing will have a four-month and one-day hold period.

The securities to be issued pursuant to the private placement have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the "1933 Act"), or under any state securities laws, and may not be offered or sold, directly or indirectly, or delivered within the United States absent registration or an applicable exemption from the registration requirements. This news release does not constitute an offer to sell or a solicitation to buy such securities in the United States.

The Canadian Securities Exchange ("CSE") has neither approved nor disapproved the contents of this news release. Neither the CSE nor its Market Regulator (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.

About Petro Viking Energy Inc.

The Company is an energy company based and operating in the province of Alberta, Canada engaged in petroleum and natural gas exploration and development activities in western Canada, and is an Emerging CSE listed corporation (“VIK”). As a low cost Carbon Neutral Energy Producer in 2022 the Company will continue to achieve its results by focusing on the application of a combination of proven geological, geophysical, engineering, and production techniques. The Company intends to becoming an integrated energy company utilizing the experience of its officers and directors who have acquired experience as developers, explorers, operators and financiers of energy projects in Canada and internationally.

ON BEHALF OF THE BOARD

Leonard Van Betuw

President and CEO

Email: leonard.v@avilaexpl.com

For further information, please contact:

Lars Glimhagen

Chief Financial Officer

Email: lars@petroviking.ca

All statements contained in this press release about anticipated future events constitute forward-looking statements. Forward looking statements are often, but not always, identified by the use of words such as “anticipate” and “expect”. Forward-looking statements are subject to business risks and uncertainties and other factors that could cause actual results to differ materially from those contained in the forward-looking statements. Forward-looking statements are based on estimates and opinions of management at the date the statements are made. The Company does not undertake any obligation to update forward-looking statements even if circumstances or management’s estimates or opinions should change except as required by applicable laws. Investors should not place undue reliance on forward-looking statements.

Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.