TORONTO, ONTARIO--(Marketwire - Oct. 24, 2012) - Gerri Greenham announced today that he has acquired 500,000 common shares in Solarvest BioEnergy Inc. (the "Company") pursuant to a private placement at $0.20 per common share for a total purchase price of $100,000.
In addition, since Mr. Greenham's Early Warning Report dated July 31, 2012, he has acquired 36,500 common shares of the Company on the public market and, pursuant to a Notice of Intention to Distribute Securities dated August 20, 2012, Mr. Greenham sold 120,000 common shares in the ordinary course of his investment activities.
As a result of these acquisitions and dispositions, Mr. Greenham now holds 5,197,500 common shares of the Company representing approximately 49.57% of the common shares currently outstanding. If Mr. Greenham exercises his options to purchase an additional 70,000 common shares, he will hold 5,267,500 common shares of the Company representing approximately 49.90% of the outstanding common shares.
Mr. Greenham is a resident of Stouffville, Ontario and acquired these common shares for investment purposes, and may, from time to time, acquire additional securities of the Company or dispose of such securities as he may deem appropriate.