Press release from TheNewswire.ca
Viridis Energy Adds Commodities Expert to its Board of Directors
Friday, October 04, 2013
Viridis Energy Adds Commodities Expert to its Board of Directors14:33 EDT Friday, October 04, 2013
Vancouver, BC - October 4, 2013 - 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 Robert M. Aaron, a seasoned commodities expert with over 30 years' experience, has joined its board of directors. Mr. Aaron replaces Vivek Rastogi, vice president of Abellon Energy, Inc. who stepped down as a member of the Company's board to focus on his responsibilities at Abellon.
Robert Aaron currently serves as the CEO of Gilwern Associates, an advisor to Viridis Energy's largest shareholder, Cornwall Investments LLC ("Cornwall"), holder of 70% of the Company's outstanding stock. Mr. Aaron also serves as vice chairman of HedgeServ Corporation, a leading hedge fund and private equity administrator located in New York, London and Dublin, and vice chairman of Investor Analytics LLC, a cutting-edge, investment risk management software-as-a-service provider located in New York. Previously, Mr. Aaron served as CEO of DPM Mellon, LLC (formerly Derivatives Portfolio Management, LLC, and currently a subsidiary of The Bank of New York Mellon Corporation), a provider of administrative and risk support services to hedge funds. He also served as vice president of Commodities Corporation, a leading commodity and futures trading firm acquired by Goldman Sachs. Mr. Aaron received a Bachelor of Science degree in accounting from Fordham University.
"We are sorry to see Vivek leave our board, but understand that as Viridis and Abellon each progress with their growth strategies, the demands of both companies become more difficult to balance. Viridis' board and management team wish Vivek and Abellon continued success going forward. We welcome Bob Aaron to our board with open arms. Bob has been a staunch supporter of Viridis over the last few years. His extensive background in commodities, and especially forest products, has proven invaluable to Viridis in the past and, as a board member, should enhance his contribution to the Company's growth," said Christopher Robertson, Chief Executive Officer of Viridis Energy, commenting on the board transitions.
Viridis recently announced that its subsidiary, Scotia Atlantic Biomass Company Limited ("Scotia"), which resumed production this summer, is approaching full capacity of 120,000 ton per year. Viridis has entered into a marketing agreement for Scotia's entire pellet production with one of the world's oldest trading houses and wholesalers of forest products. The Company is also considering other biomass revenue sources in which it can exploit its expertise in renewable energy.
----------------------------------- | |Company Contact: Michele | | | |Rebiere Chief Financial | | | |Officer Viridis Energy Inc | | | |905-847-5226 | | | |firstname.lastname@example.org| | -----------------------------------
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, 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.
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.
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