Viridis Energy Adds Renewable Energy Executive to its Board of Directors
December 14 2011 - 9:14AM
Marketwired
Viridis Energy Inc. ("Viridis" or the "Company") (TSX VENTURE:VRD)
(OTCQX:VRDSF) a "Cleantech" manufacturer and distributor of
alternative energy providing biomass fuel to global residential and
industrial markets, today announced that Vivek Rastogi, Vice
President of Abellon Energy, Inc. ("Abellon") has joined its board
of directors.
Viridis and Abellon entered into a strategic alliance in August
2011 in which the two companies agreed to collaborate on the
procurement and supply of wood pellets and the proposed development
of a production facility in Monte Lake, BC. As part of the
strategic agreement, Abellon also agreed to make a direct
investment into the Company through participation of up to 10
percent of the private placement the Company announced on December
2010, the terms of which were amended in June 2011.
Mr. Rastogi joined Abellon & its group companies in 2002 and
is presently based in Vancouver, BC where he oversees the company's
Clean Energy business and Sustainable Development initiatives in
the Americas region. Upon earning graduate degrees in science,
software and post graduation in management from India, Mr. Rastogi
embarked on a career in business strategy, creating and managing
business ventures and international business across several
developed and emerging economies. His industry experience includes
life sciences, clean and renewable energy, agri-sciences,
engineering and building construction materials, food and beverage,
and information technology.
Commenting on Mr. Rastogi's appointment, Christopher Robertson,
Viridis's CEO, said, Vivek adds a new dimension to our board of
directors. His diversified background in business development and
renewable energy resources will support Viridis' expansion strategy
into overseas markets. His direct involvement in Abellon's
renewable biomass energy endeavors should prove invaluable to
Viridis as we add alternative bio-waste fuel sources to our product
line."
About Viridis Energy Inc.
Viridis Energy Inc. (TSX VENTURE: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 and Okanagan
Pellet Company, two acquisitions in the wood pellet sector, thus
providing the company with vertical integration for distribution
and manufacturing.
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 retain key
management and employees, (6) ; an increase in the number of
competitors with larger resources, and (7) 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 security 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.
Contacts: Viridis Energy Inc Michele Rebiere Chief Financial
Officer 905-847-5226investorinfo@viridisenergy.ca Grannus Financial
Advisors, Inc. Yvonne L. Zappulla Managing Director
212-681-4108Yvonne@GrannusFinancial.com
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