Press release from TheNewswire.ca
Viridis Energy Corrects Previous Press Release
Wednesday, July 27, 2011
Viridis Energy Corrects Previous Press Release05:57 EDT Wednesday, July 27, 2011(via Thenewswire.ca) Vancouver, BC - July 27, 2011 - Viridis Energy Inc. ("Viridis" or the "Company") (TSXV: VRD) (OTC: VRDSF.PK) a "Cleantech" manufacturer and distributor of alternative energy providing biomass fuel to global residential and industrial markets, announced today wishes to correct its news release dated July 5, 2011. Under the first tranche of the private placement, the Company sold and issued 9,812,000 units for gross proceeds of $2,453,000. The Company paid finder's fees of $ 24,710 in cash with respect to that tranche. In addition, Viridis issued 98,840 agent's warrants each such agent's warrant entitling the holder thereof to purchase a Common Share for $0.40 per share, for a period of 2 years from issuance, subject to resale restriction. In addition, the Company has closed a second tranche of the Private Placement. Under the second tranche, the Company has sold and issued 2,500,000 units for gross proceeds of $625,000. The Company paid finder's fees of $62,500 in cash with respect to the second tranche. In addition, the Company issued 250,000 agent's warrants with respect to the second tranche, each such agent's warrant entitling the holder thereof to purchase a Common Share for $0.40 per share, for a period of 2 years from issuance. Taken together, the Company has sold and issued an aggregate total of 12,312,000 units for aggregate gross proceeds of $3,078,000, and has paid $87,210 and issued 348,000 agent's warrants in finder's fees. All securities described above are subject to a resale restriction period expiring on November 26, 2011. 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. ### ---------------------------------------------------------------- |Investor Contact: |Company Contact: | |Yvonne L. Zappulla |Michele Rebiere | |Managing Director |Chief Financial Officer | |Grannus Financial Advisors, Inc.|Viridis Energy Inc | |212-681-4108 |905-847-5226 | |Yvonne@GrannusFinancial.com |firstname.lastname@example.org| | | | ---------------------------------------------------------------- Copyright (c) 2011 Thenewswire.ca - All rights reserved.