Viridium Completes Private Placement

CALGARY, AB / ACCESSWIRE / November 16, 2017 / Viridium Pacific Group Ltd. (“Viridium” or the “Company”) (TSXV: VIR) (OTC PINK: MRRBF) announces that it has completed the non-brokered private placement announced on October 10, 2017 was closed on November 14, 2017 raising gross proceeds of $591,666.60 (the “Private Placement”). A total of 986,111 Viridium Units were issued. Each Unit consists of one common share and one-half of one common share purchase warrant (the “Unit”) (each common share purchase warrant hereinafter referred to as the “Warrant”). Each Warrant is exercisable to acquire one common share of the Company at a price of $0.80 expiring on June 27, 2018. The common shares and the Warrants are subject to a four month hold period and may not be traded until March 15, 2018.

The net proceeds from the Private Placement will be used to proceed with the business of Viridium including the planned erection of the approximate 40,000 square-foot greenhouse canopy.

Including the securities issued pursuant to the Private Placement the outstanding securities of the Company are as follows:

Securities Description

Number of Common Shares

Common Shares

45,580,369

Warrants(1)

5,015,018

Agent Option(2) to Units

533,505

Restricted Share Units(3)

2,771,375

Stock Options(3)

1,374,975

Total (fully diluted)

55,275,242

Notes:

Each Warrant being exercisable to acquire one common share of the Company at a price of $0.80 expiring on June 27, 2018.
Agent Options granted pursuant to a prior private placement and which expire on June 27, 2018 and include one common share and one-half Warrant. A total of 355,670 common shares may be acquired and a total of 177,835 common shares may be acquired pursuant to the Agent’s Warrants.
Restricted Share Units (RSU) and Stock Options (Options) issued in accordance with Company’s Employee Stock Option Plan and Restricted Share Unit Plan.

The Company further announces that John Zang has resigned as Corporate Secretary and as a Director of the Company.

In order to fill the vacancy created by Mr. Zang’s resignation, subject to TSX Venture Exchange approval, Viridium has appointed Jarrett Malnarick as a Director of the Company. Mr. Malnarick is currently the Chief Operating Officer of Viridium.

Mr. Malnarick is currently the COO of Viridium Pacific and has executive and director experience with various public companies. His experience includes funding and commissioning start ups, mergers and acquisitions, product development, design costing, organizational budgets, new facility process planning, quality engineering and product regulatory compliance to Health Canada and international standards through the design and implementing operational systems. Over the last four years, he has helped various LP’s within Canada through the application and implementation period as well as project managed multiple cannabis greenhouse projects in California and Washington as well as, extraction facilities in Washington and Oregon.

About Viridium

Viridium Pacific is headquartered in the Fraser Valley Region of British Columbia, Canada, and operates businesses involved in agricultural production and wholesale distribution, property acquisition and development, as well as financial services with an emphasis on medical insurance products and services. Viridium Pacific is well positioned to develop and to expand these highly profitable, emerging growth businesses in 2018. Viridium Pacific is the parent company of several operating subsidiaries, including Experion Biotechnologies Inc., a Health Canada licensed producer.

More information about Viridium can be found under the Company’s profile on SEDAR at www.sedar.com.

About Experion

Experion Biotechnologies Inc. is a science led company that aims to be an industry leader in cannabis testing & quality control, low cost production & distribution, and strain research & development. The Company is a licensed producer under Canada’s ACMPR and plans to operate across three core lines of business, including: (i) plant propagation and tissue culturing, (ii) production of whole plant “starter material” for wholesale to licensed growers, and (iii) production of dried flower and derivative products for wholesale distribution to medical patients.

Disclosure

The TSX Venture Exchange has neither approved nor disapproved the contents of this news release.

This press release contains forward-looking information within the meaning of Canadian securities laws. Although the Company believes that such information is reasonable, it can give no assurance that such expectations will prove to be correct.

Forward-looking information is typically identified by words such as: believe, expect, anticipate, intend, estimate, forecast, postulate and similar expressions, or are those, which, by their nature, refer to future events. The Company cautions investors that any forward-looking information provided by the Company are not guarantees of future results or performance, and that actual results may differ materially from those in forward-looking information as a result of various factors, including, but not limited to: the state of the financial markets for the Company’s equity securities; recent market volatility; the Company’s ability to raise the necessary capital or to be fully able to implement its business strategies; and other risks and factors that the Company is unaware of at this time. The reader is referred to the Filing Statement dated September 25, 2017 and/or the most recent annual and interim Management’s Discussion and Analysis for a more complete discussion of such risk factors and their potential effects, copies of which may be accessed through the Company page on SEDAR at www.sedar.com.

For further information:

VIRIDIUM PACIFIC GROUP LTD.

Damian Wojcichowsky

Finance Consultant

Telephone: 647 464 3596

Email: Damian@viridiumpacific.com

SOURCE: Viridium Pacific Group Ltd.

ReleaseID: 482222