Solarvest BioEnergy Inc.
TSX VENTURE : SVS

Solarvest BioEnergy Inc.

June 24, 2009 19:38 ET

Solarvest BioEnergy Inc. Announces Non-Brokered Private Placement

VANCOUVER, BRITISH COLUMBIA--(Marketwire - June 24, 2009) - SOLARVEST BIOENERGY INC. (TSX VENTURE:SVS) ("Solarvest" or the "Company"), wishes to announce its non-brokered private placement, pursuant to which the investors will purchase from the Company up to 500,000 common shares at a price of $0.20 per share for gross proceeds of $100,000.

The private placement will be entirely subscribed by Related Parties of the Company and is anticipated to close on or about June 26, 2009. The shares will be subject to resale restrictions for a period of four months from the closing date under applicable securities legislation. Completion of the private placement will be subject to a number of conditions including the approval of the TSX Venture Exchange.

Proceeds from this private placement will be used as general working capital to assist with the restructuring of the Company.

About Solarvest

Solarvest is a research and development company in the biotechnology sector. The Company is committed to the development of sustainable and renewable energy sources to meet growing energy demands and environmental challenges. Solarvest has acquired the rights to a biologically-based hydrogen producing technology, which provides a controlled method for turning on and off genes in algae resulting in the continuous production of hydrogen gas.

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

The TSX Venture Exchange has neither approved nor disapproved the contents of this Press Release.

Contact Information