Press release from TheNewswire.ca
Viridis Energy Closes Private Placement
Thursday, June 28, 2012
Viridis Energy Closes Private Placement 05:58 EDT Thursday, June 28, 2012(via Thenewswire.ca) Vancouver, BC - June 28, 2012 - Viridis Energy Inc. ("Viridis" or the "Company") (TSXV: VRD) a "Cleantech" manufacturer and distributor of alternative energy providing biomass fuel to global residential and industrial markets, announced today that it has closed its non-brokered private placement (the "Private Placement") announced on June 22, 2012, under the terms previously disclosed. The Private Placement consisted of 2,000,000 units at a price of $0.25 per unit generating gross proceeds of $500,000. Each unit consists of one share of the Company's common stock and one non-transferable share purchase warrant, entitling the holder to purchase one share of Viridis common stock at an exercise price of $0.35 per share for a period of 5 years from issuance, subject to certain conditions. The use of proceeds of the Private Placement will be to retire debt incurred for the Company's acquisition of Okanagan Pellet Company Inc. on April 30, 2010. All securities issued pursuant to the Private Placement are subject to a holding period which expires on October 28, 2012. The Company did not file a material change report more than 21 days before the expected closing of the Private Placement as the details of the Private Placement and the participation therein by related parties of the Company were not settled until shortly prior to Private Placement closing. This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available. Investor Contact: Yvonne L. Zappulla Managing Director Grannus Financial Advisors, Inc. 212-681-4108 Yvonne@GrannusFinancial.com Company Contact: Michele Rebiere Chief Financial Officer Viridis Energy Inc 905-847-5226 firstname.lastname@example.org About Viridis Viridis Energy Inc. (TSXV: VRD) is a publicly traded, "Cleantech" alternative energy company specializing in wood biomass. Headquartered in Vancouver, B.C., Viridis Energy operates Cypress Pacific Marketing, Okanagan Pellet Company and Scotia Atlantic Biomass, thus providing the company with vertical integration for distribution and manufacturing as well as coast to coast national presence. 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 finance the start-up operations in Nova Scotia in a timely manner (6) inability to retain key management and employees, (7) an increase in the number of competitors with larger resources, and (8) 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 securities 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. Copyright (c) 2012 Thenewswire.ca - All rights reserved.