Viridis Energy Files Counterclaim And Responds to Civil Claims
16 Settembre 2011 - 10:46PM
Marketwired
Viridis Energy Inc. ("Viridis" or the "Company") (TSX VENTURE: VRD)
(OTCQX: VRDSF), has filed a counterclaim against the Company's
former chairman, Robert Gardner, citing a breach of duty in several
circumstances, including unauthorized third party engagements,
unauthorized personal compensation and dissemination of
confidential material to unauthorized parties. The Company seeks
damages for breach of fiduciary responsibility, defamation and
other matters, as well as the return of monies paid to Mr. Gardner
without authorization.
The Company has also filed its responses to civil claims filed
by Mr. Gardner and Parhys Investments Ltd. ("Parhys"), a firm
affiliated with Mr. Gardner, both of which were filed on August 11,
2011. In the Company's response to Mr. Gardner's claims, the
Company stated that his demands are unsubstantiated, undocumented
and/or unauthorized. Regarding the claim filed by Parhys, the
Company stated that it has never received monies from Parhys,
although the Company did acknowledge that Mr. Gardner, acting on
behalf Parhys, did arrange a loan between Viridis and Magna
Management ("Magna"), a firm also affiliated with Mr. Gardner. The
Company also stated that the loan from Magna had no specific
repayment terms and Magna has yet to request repayment. The Company
seeks that Mr. Gardner's and Parhys' claims be dismissed.
Viridis intends to strongly defend against the claims of Mr.
Gardner and Parhys and intends to aggressively pursue its counter
claim against Mr. Gardner.
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: Grannus Financial Advisors, Inc. Yvonne L. Zappulla
Managing Director 212-681-4108 Yvonne@GrannusFinancial.com Viridis
Energy Inc. Michele Rebiere Chief Financial Officer 905-847-5226
Investorinfo@ViridisEnergy.ca
Grafico Azioni Viridis Energy Inc. (TSXV:VRD)
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Grafico Azioni Viridis Energy Inc. (TSXV:VRD)
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