Viridis chairman resigns, operations suspended at pellet plant

By Viridis Energy Inc. | September 01, 2016

Viridis Energy Inc. recently announced the resignation of its non-executive chairman of the board, Robert M. Aaron. Aaron resigned effective immediately on account of health issues.  He has also served as a manager of Cornwall Investments LLC, the company’s largest shareholder and creditor. For the same reasons, he will no longer be continuing in his duties at Cornwall. 

The company also announced that it winding down its U.S. operations, Viridis Merchants Inc., the pellet brokerage business, and is in active discussions with a potential buyer of the trademarked brands, Okanagan Pellets. 

The company has temporarily suspended operations at its Nova Scotia based industrial pellet manufacturing business, Scotia Atlantic Biomass Co. Ltd., pending a decision by the company on the possible sale of this business..

The company’s common stock currently trades on the NEX under the symbol VRD.H.