An anonymous director reports
VIRIDIS ENERGY INC. AMENDS TERMS OF PRIVATE PLACEMENT
Dueto additional interest by investors,Viridis Energy Inc. has increased the non-brokered private placement,previously announced on Dec. 1, 2010, to 12 million units at a price of50 cents per unit, for gross proceeds of up to $6-million.
Viridis has also extended the closing of the private placement toprovide additional time for the company and its investors to completeand deliver the subscription agreements and related documents.
Each unit remains as one common share and one non-transferable sharepurchase warrant with each warrant entitling the holder thereof topurchase an additional common share at a price of 75 cents per share fora period of 24 months from issuance. In the event that the averagetrading price of Viridis's common shares is $1.35 or greater for aperiod of 30 consecutive days, Viridis may issue a further news releaseannouncing its intention to reduce the exercise period to 30 days fromthe date of such news release, subject to the terms and conditions ofthe warrants.
All other terms of the private placement remain the same.
The private placement is subject to the acceptance for filing of the TSX Venture Exchange.
We seek Safe Harbor.