Vancouver, BC / March 20, 2014 / Viridis Energy Inc. ("Viridis" or the "Company") (TSXV: VRD), a "Cleantech" manufacturer and distributor of renewable energy providing waste biomass fuel to global residential and industrial markets, announced today that its recently launched, wholly owned subsidiary, Viridis Merchants Inc., an aggregation and trading service of wood pellets and other alternative energy sources has structured its second transaction, securing 12,000 tons of wood pellets from a producer located in the Southeast U.S. This transaction is expected to generate over $2.5 million in revenues over the 12-month period beginning April 1, 2014.
The wood pellets are to be supplied in equal monthly deliveries over the next 12 months to customers in the U.S. northeast market. In addition to arranging the transaction, Viridis Merchants is providing value-add services including logistics and marketing to the producer.
Commenting on Viridis Merchant's latest transaction, Christopher Robertson, Viridis' CEO said, "While much focus has been placed on our international and industrial opportunities, we have developed a large and loyal customer base in domestic home heating in the US northeast, which has experienced double digit growth. The severe winter conditions experienced this year have escalated interest in economically efficient, home heating solutions. Our recently launched Viridis Merchants has been instrumental in supplementing our production capacity with similarly high quality products, adding thus far over 60,000 tons of additional wood pellets to our overall product offering."
Viridis Investor Contact:
Yvonne L. Zappulla
Grannus Financial Advisors, Inc.
Chief Financial Officer
Viridis Energy Inc
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About Viridis Energy Inc.
Viridis Energy Inc. (TSXV: VRD) is a publicly traded, "Cleantech" alternative energy company specializing in the wood waste biomass. Located in Vancouver, B.C., Viridis Energy operates Okanagan Pellet Company, Scotia Atlantic Biomass, and Viridis Merchants, 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.
Release ID: 37072