Viridis Energy Announces its Second Transaction Securing 12,000 Tons of Wood Pellets from a Southeast U.S. Producer
20 March 2014 - 11:30PM
Access Wire
Vancouver, BC / ACCESSWIRE / 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
Managing Director
Grannus Financial Advisors, Inc.
212-681-4108
Company Contact:
Michele Rebiere
Chief Financial Officer
Viridis Energy Inc
905-847-5226
investorinfo@viridisenergy.ca
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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.
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.
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