Pellet producer Viridis Energy for sale

Publically traded Canadian pellet production company Viridis Energy Inc. is up for sale.

Just weeks after the company announced it would cease operations at Okanagan Pellet Co., its West Kelowna, British Columbia, wood pellet production facility, the company informed investors that its lender, Royal Bank of Canada, has made a demand for payment in full of OPC’s outstanding debt, and that the company could not pay the $2.61 million sum by the date specified in the demand notice.

Viridis stated its reasons for ceasing operations at OPC as being recently discovered structural challenges of the building, and additional requirements from local authorities concerning dust management.

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