TSX Venture Exchange Symbol: VFI.P

TORONTO, Feb. 18 /CNW/ - At the request of the TSX Venture Exchange, Verdant Financial Partners I Inc. (TSXV: VFI.P) (the "Company"), a capital pool company, discloses previous announcements not properly disseminated. In prior instances, the Company had only filed press releases on Sedar and not through an acceptable news dissemination service.

On October 28, 2010, Verdant Financial Partners I Inc. (TSXV: VFI.P) (the "Company"), a capital pool company, announced that it had terminated discussions to acquire certain assets of Inergy Power Corporation, Invantage Manufacturing Inc., and Trinergy Power Inc. (collectively as the "Target Company") as contemplated in a Letter of Intent signed by the Company on May 7, 2010 and communicated in a press release dated May 10, 2010. The decision to terminate discussions, effective October 20, 2010 and announced on October 28, 2010, was due to the fact that the Company was unable to complete satisfactory due diligence. On May 18, 2010, the Corporation advanced a loan of $25,000 to the Target Company. The loan was recorded as a loan receivable in the fiscal first quarter of 2011. During the fiscal second quarter of 2011, the Company determined that there was no reasonable assurance of collecting the amounts advanced to the Target Company. As a result, the full amount of the loan was written-off during the fiscal second quarter of 2011. The Company will continue to pursue and evaluate businesses and assets with a view to completing a Qualifying Transaction.

On September 7, 2010 the Company announced the passing of Paul Maasland, President, Chief Executive Officer and Chairman of the Board of Directors of the Company. Effective October 20, 2010, the Board of Directors of the Company announced the appointment of Thomas H. Wallace, CA, CPA (Illinois) as Acting Chief Executive Officer of the Company. Mr. Wallace has been Chief Financial Officer and Director of the Company since incorporation and has been responsible for identifying and evaluating various potential qualifying transactions.

About Verdant Financial Partners I Inc.

Verdant Financial Partners I Inc. is the first in a planned series of CPCs focused on generating superior shareholder returns through the creation of unique CPCs.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

SOURCE Verdant Financial Partners I Inc.

For further information:

Tom Wallace, CA, CPA, Acting Chief Executive Officer and Chief Financial Officer
Verdant Financial Partners I Inc.
T: (647) 262-9255

Profil de l'entreprise

Verdant Financial Partners I Inc.

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