Verdant Financial Partners I Inc.
TSX VENTURE : VFI.H

June 09, 2016 07:00 ET

Verdant Financial Partners Announces Proposed Transfer of Escrowed Shares

TORONTO, ONTARIO--(Marketwired - June 9, 2016) - Verdant Financial Partners I Inc. (TSX VENTURE:VFI.H) (the "Corporation") announces today that Verdant Financial Partners Corp., an entity controlled by an individual who is an escrowed shareholder and a former insider of the Corporation, has entered into an agreement with Messrs. David Mitchell, Keith Harris and Alec Rowlands (the "Purchasers") pursuant to which the Purchasers will acquire by way of a private agreement an aggregate of 343,048 common shares of the Corporation (the "Purchased Shares"). The purchase price for the Purchased Shares is $0.075 per share for aggregate consideration of $25,728.60. Following completion of the transaction, Mr. Mitchell, Chief Executive Officer, Chief Financial Officer, and a director of the Corporation, will own 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, on a fully diluted basis, 19.32% of the issued and outstanding Common Shares.

The purchase of the Purchased Shares is conditional on approval by the TSX Venture Exchange (the "Exchange").

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 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.

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