Enthusiasm for Int. Viking sparked by magic of Pezim

But it was the man behind International Viking rather than the company itself that sparked all the attention.

International Viking represents an attempt by Chairman Murray Pezim to gain a foothold in the oil and gas prospecting business.

On a recent visit to Calgary, the flamboyant promoter told a Calgary Herald reporter “there is going to be a shortage of gas in two to three years.”

His presence ensured that an initial offering of 1.6 million shares was fully subscribed for a 50 cents per share.

Pezim already has a long track record in gold exploration. He was involved in the discovery of the Hemlo gold camp in Ontario and as chairman of Vancouver-based merchant banker Prime Capital Corp. (VSE) is financing gold exploration in British Columbia.

Prime Capital is International Viking’s largest single shareholder with a 24.7% interest.

While Pezim has promised to show Alberta prospectors how to find oil, International Viking’s only asset is a group of Northern Carolina gold claims called the Chesterfield property.

Held through Viking’s wholly- owned subsidiary Prime Group Gold Corp., the 503-acre property is in a similar setting to Galactic Resources’ (TSE) Ridgeway gold deposit.

Under an agreement, Prime Group must spend $600,000 by January 1994 (including a minimum $100,000 by Dec 31, 1989). Consultant Watts, Griffis and McOuat has proposed a $600,000 2-phase exploration program.

International Viking commenced trading Jan 16 at 60 cents on 1.7 million shares traded and by press time had climbed to 88 cents .

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