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Press release from

Viridis Energy announces Non-Brokered Private Placement

Wednesday, April 03, 2013

Viridis Energy announces Non-Brokered Private Placement

06:30 EDT Wednesday, April 03, 2013


Vancouver, BC - April 3, 2013 - Viridis Energy Inc. ("Viridis" or the "Company") (TSXV: VRD), announced today that it intends to conduct a non-brokered, private placement of up to 50,000,000 units at a price of $0.10 per unit for gross proceeds of $5,000,000 (the "Private Placement"). The Company has secured a commitment from Cornwall Investments LLC ("Cornwall") to purchase a minimum of 30,000,000 units of the intended financing.

The proceeds of the Private Placement will be used for capital expenditures and operating expenses associated with the Company's pellet plant in eastern Canada, Scotia Atlantic Biomass Company Limited ("Scotia"), acquired in 2012. In addition, proceeds will be used to repay Cornwall approximately $800,000 for the working capital loan provided to the Company on January 21, 2013, as well as general working capital.

Each unit will consist of one common share and one-half of one non-transferable share purchase warrant. Each warrant will entitle the holder to purchase one common share of Viridis at any time within five years following the completion of the Private Placement at an exercise price of $0.15 per share during the first twelve month period, $0.20 per share during the second twelve month period, $0.25 per share during the third twelve month period, $0.30 per share during the fourth twelve month period, and $0.35 per share during the fifth and final twelve month period. In the event that the closing price on the TSXV of Viridis' common shares is $1.00 or greater for a period of 30 consecutive trading days following the completion of the Private Placement, Viridis may, in its sole discretion, reduce the exercise period to 30 days with written notice (subject to the terms and conditions of the warrants).

All securities issued pursuant to the Private Placement will be subject to a hold period, which expires four months and one day after the closing of the Private Placement. Viridis may, subject to the policies of the TSX Venture Exchange, pay a finder's fee on the remaining portion of the Private Placement. The Private Placement is subject to acceptance for filing by the TSX Venture Exchange.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of the securities in a jurisdiction in which such an offer, solicitation or sale would be unlawful.

Company Contact:

Michele Rebiere

Chief Financial Officer

Viridis Energy Inc


About Viridis Energy Inc.

Viridis Energy Inc. (TSXV: VRD) is a publicly traded, "Cleantech" alternative energy company specializing in the wood pellet biomass. Located in Vancouver, B.C., Viridis Energy operates Cypress Pacific Marketing Inc., Okanagan Pellet Company Inc. and Scotia Atlantic Biomass Company, 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

Forward-looking Statements

Certain of the statements made in this news release may contain forward-looking statements within the meaning of the United States Securities Exchange Act of 1934 and forward-looking information within the meaning of applicable Canadian securities law. Forward-looking statements and forward-looking information include, but are not limited to, statements or information with respect to the intended private placement. 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 non-brokered private placements, (3) the risk that the Company does not execute its business plan, (4) unexpected costs associated with restoring operations in Nova Scotia, and (5) other factors beyond the Company's control. These forward-looking statements are made as of the date of this news release and the Company does not intend to update such forward-looking information unless required to do so by applicable laws. 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) 2013 TheNewswire - All rights reserved.

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