Viridium Reports Second Quarter Results, Provides Corporate Update
August 1, 2018 — Viridium Pacific Group Ltd. (“Viridium” or the “Company”) (TSXV: VIR) (OTCPink: MRRBF) is pleased to provide shareholders with the second quarter financial and a corporate update.
Viridium has now filed the second quarter consolidated financial statements and management discussion and analysis for the period ending May 31, 2017 on SEDAR.
As previously announced (see news release dated June 14, 2018, “Viridium Pacific Provides Fiscal Q2 Corporate Update”), Experion Biotechnologies Inc., the wholly owned Licensed Producer subsidiary of Viridium, has been progressing towards approval of the License to Sell by Health Canada. Since the last corporate update, Experion has now completed its inspection by Health Canada for the sales amendment under section 22(2) of the ACMRP regulations. Further, Experion has applied for its excise tax license with the Canada Revenue Agency.
Experion has also progressed on the commercial distribution front by securing a Memorandum of Understanding to supply the British Columbia Liquor Control Branch with cannabis for the recreational market (see new release dated July 16, 2018, “Viridium Subsidiary, Experion Biotechnologies, to Become Supplier with the British Columbia Liquor Distribution Branch”). As well, during the quarter, Experion has now completed the restructuring of its indoor facility, resulting in an increase production of 20%.
Finally, Viridium announced that it has retained Renmark Financial Communications Inc. to handle its investor relations activities.
Viridium CEO, Jarrett Malnarick, commented: “On behalf of Viridium, I thank the team at Experion for its superb efforts over the past quarter. We continue to meet our goals and reach new milestones each month. I look forward to an exciting second half of the year for our company.”
Viridium Pacific Group Ltd. is a consumer wellness and biotech innovation company based in British Columbia, and the parent company of operating subsidiaries involved in horticultural production, (Experion Biotechologies Inc.) property development (Fish Trap Ventures Ltd.), and human resource management (Stave Lake Services Ltd.) Experion Biotechnologies Inc., is a Health Canada licensed producer of cannabis, which operates in an 8,300 square-foot indoor facility outside of Mission, BC.
More information about Viridium can be found under the Company’s profile on SEDAR at www.sedar.com.
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; the risks identified in the Filing Statement, 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.