NEWS
Viridis Energy’s Bid to Acquire Certain Assets of Nova Scotia Wood Pellet Manufacturer Accepted by Court Appointed Receiver
December 22, 2011Viridis Energy Inc. ("Viridis" or the "Company") (TSXV: VRD), announced today that PricewaterhouseCoopers Inc., in its capacity as the Court appointed receiver of Enligna Canada Inc. (“Enligna”), has notified the Company that its bid to acquire certain assets of Enligna has been accepted. Prior to being placed in receivership in August 2011, Enligna was the owner of a wood pellet mill located in Upper Musquodoboit, Nova Scotia.
The assets to be acquired include 20 buildings on four properties with a total of 157 acres and a separate 22 acre wood lot. The facilities housesfive pellet presseswith the capacity to produce 110,000 tonnes of wood pellets, annually.
The completion of the acquisition is subject to receipt of Court approval, which will be sought by the receiver in January 2012, and any required acceptance by the TSX Venture Exchange. Upon receipt of Court approval, the Company will release further details of the acquisition.
Investor Contact: Yvonne L. Zappulla Managing Director Grannus Financial Advisors, Inc. 212-681-4108 [email protected]
Company Contact: Michele Rebiere Chief Financial Officer Viridis Energy Inc 905-847-5226 [email protected]
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.
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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