NEWS
Viridis Energy Inc. Welcomes Addition to the Board of Directors
April 12, 2011Viridis Energy Inc. ("Viridis" or the "Company") (TSXV: VRD) is very pleased to announce that, effective immediately, Chris Robertson, the Company's Chief Executive Officer, has been appointed to the Company’s Board of Directors.
Mr. Robertson has 30 years of experience in the lumber and remanufacturing business. Growing up in a family with three generations of lumber professionals, he began his career as a commodities trader focused on lumber. After several highly successful years, Mr. Robertson founded a wood products distribution business, which became the largest distributor of cedar grilling planks in the United States, with large retail customers throughout the country. This business was later sold to a retail group. Mr. Robertson also founded the wood pellet business of Cypress Pacific Marketing, which was acquired by Viridis in 2010 and is currently its primary operating business. Mr. Robertson has extensive experience in sales, manufacturing and distribution in the U.S., Canada and China.
The board of directors also announced that two directors, Brian R.D. Smith, Q.C. and Robert Gardner Q.C., have resigned from the Company’s Board of Directors to dedicate more time to other opportunities. Both Messrs. Smith and Gardner have offered invaluable service the Company, for which its management and Board of Directors are grateful for their insights, counsel and commitment over the past year.
Viridis continues to proceed with its private placement as reported on its March 2, 2011 news release. The Unit offering remains as one common share and one non-transferable share purchase warrant with each warrant entitling the holder thereof to purchase an additional common share at a price of $0.75 per share for a period of 24 months from issuance. In the event that the average trading price of Viridis' common shares is $1.35 or greater for a period of 30 consecutive days, Viridis may issue a further news release announcing its intention to reduce the exercise period to 30 days from the date of such news release, subject to the terms and conditions of the Warrants. The private placement remains subject to the TSX Venture Exchange's acceptance for filing.
About Viridis Energy Inc.
Viridis Energy Inc. (TSXV: VRD) is a publicly traded, "Cleantech" alternative energy company specializing in the agricultural and wood waste biomass. Located in Vancouver, B.C., Viridis Energy operates Cypress Pacific Marketing and Okanagan Pellet Company, two acquisitions in the wood pellet sector, thus providing the company with vertical integration for distribution and manufacturing.
For more information on Viridis Energy Inc. please refer to the company website at www.viridisenergy.ca.
Forward-looking Statements Certain statements in this release are forward-looking statements, which reflect the expectations of management regarding the Company’s future operations. Forward-looking statements consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations or intentions regarding the future. Such statements are subject to risks and uncertainties that may cause actual results, performance or developments to differ materially from those contained in the statements. No assurance can be given that any of the events anticipated by the forward-looking statements will occur or, if they do occur, what benefits the Company will obtain from them. These forward-looking statements reflect management’s current views and are based on certain expectations, estimates and assumptions which may prove to be incorrect. A number of risks and uncertainties could cause our actual results to differ materially from those expressed or implied by the forward-looking statements, including: (1) a continued downturn in general economic conditions in North America and internationally, (2) the inherent uncertainties associated with the demand for biofuels, (3) the risk that the Company does not execute its business plan, (4) inability to finance operations and growth (5) inability to retain key management and employees, (6) ; an increase in the number of competitors with larger resources, and (7) other factors beyond the Company’s control. These forward-looking statements are made as of the date of this news release and the Company intends to update such forward looking information in the Company's MD&A; in the event that actual results differ materially from such forward-looking statements contained herein. Additional information about these and other assumptions, risks and uncertainties are set out in the “Risks and Uncertainties” section in the Company’s MD&A; filed with Canadian security regulators.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
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