TORONTO, ONTARIO -- (Marketwired) -- 06/17/16 -- Verdant Financial Partners I Inc. (NEX: VFI.H) (the "Corporation") announces today that, further to a press release dated June 9, 2016, Messrs. David Mitchell, Keith Harris and Alec Rowlands (the "Purchasers") have acquired an aggregate of 343,048 common shares of the Corporation (the "Purchased Shares") from Verdant Financial Partners Corp., an entity controlled by an individual who was an escrowed shareholder and a former insider of the Corporation. The purchase price for the Purchased Shares was $0.075 per share for aggregate consideration of $25,728.60. Mr. Mitchell, Chief Executive Officer, Chief Financial Officer, and a director of the Corporation, now holds an aggregate of 530,000 common shares of the Corporation (the "Common Shares") or approximately 15% of the issued and outstanding Common Shares. Together with options to purchase 153,000 Common Shares, Mr. Mitchell holds 19.32% of the issued and outstanding Common Shares on a fully diluted basis.
The Purchased Shares are subject to an escrow agreement dated July 10, 2009 between the Corporation, Equity Financial Trust Company and the escrowed securityholders, and accordingly, such shares may only be dealt with in accordance with the policies of the TSX Venture Exchange and the provisions of the escrow agreement.
About Verdant Financial Partners I Inc.
Verdant Financial Partners I Inc. is a Capital Pool Company.
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 of accuracy of this news release.
Contacts:
Verdant Financial Partners I Inc.
David Mitchell
Chief Executive Officer
416.574.4818
dmitchell@stillbridge.com
