SOLARVEST BIOENERGY INC. (TSX VENTURE:SVS) ("Solarvest") wishes to announce it
has closed a non-brokered private placement of 1,506,665 Units priced at $0.30
for total gross proceeds of $452,000. Each Unit consists of one common share and
one half warrant. Each whole warrant is exercisable for one common share at
$0.40 for a period of eighteen months following the closing and include an
acceleration clause that is triggered by a share price of $0.60 per share.


Proceeds from this private placement will be used as general working capital.
The units are be subject to resale restrictions until August 10, 2014 under
applicable securities legislation.


The Company paid finders' fees with respect to certain subscribers in the amount
of $15,470 and issued 44,200 non-transferrable finder's warrants. The finder's
warrants are exercisable into common shares at $0.50 on the same terms as the
warrants issued to the placees. 


A director and officer who is also a Control Person of the Company participated
in this private placement on the same terms and conditions as the other placees
for a total of 200,000 Units. The placement is exempt from shareholder approval
accordance with MI 61-101 (Protection of Minority Security Holders in Special
Transactions).


About Solarvest BioEnergy Inc.

Solarvest is an algae technology company whose algal-based production platform
provides it with an extremely flexible system capable of being adapted to
produce clean energy in the form of hydrogen and health products such as Organic
Omega oils in an economic and environmentally sensitive manner. 


The TSX Venture Exchange has neither approved nor disapproved the contents of
this news release.


Neither 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 or accuracy of this release.


The statements made in this news release may contain forward-looking statements
that may involve a number of risks and uncertainties. Actual events or results
could differ materially from Solarvest's expectations and projections.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Solarvest BioEnergy Inc.
Gerri Greenham
Chief Executive Officer
416 420 0947
ggreenham@solarvest.ca
www.solarvest.ca
Solarvest BioEnergy (TSXV:SVS)
Historical Stock Chart
From Oct 2024 to Nov 2024 Click Here for more Solarvest BioEnergy Charts.
Solarvest BioEnergy (TSXV:SVS)
Historical Stock Chart
From Nov 2023 to Nov 2024 Click Here for more Solarvest BioEnergy Charts.