Solarvest BioEnergy Inc.
TSX VENTURE : SVS

Solarvest BioEnergy Inc.

November 30, 2015 18:45 ET

Solarvest Bioenergy Inc. Announces Private Placement to Existing Shareholders and Other Investors

VANCOUVER, BRITISH COLUMBIA--(Marketwired - Nov. 30, 2015) - SOLARVEST BIOENERGY INC. (TSX VENTURE:SVS) ("Solarvest" or the "Company"), announces a non-brokered private placement, pursuant to which the Company intends to raise up to $500,000 through the issuance of up to 2,000,000 Units at a price of $0.25 per Unit. Each Unit consists of one common share and one warrant. Each warrant is exercisable for one common share at $0.35 for a period of eighteen months following the closing and include an acceleration clause that is triggered by a share price of $0.55 per share (the "Private Placement"). Subject to certain limitations discussed below, the Private Placement is open to all existing shareholders of the Company.

Subject to regulatory requirements, a portion of the Private Placement may be made in accordance with the provisions of the existing shareholder exemption (the "Existing Shareholder Exemption") contained in Multilateral CSA Notice 45-313 and the various corresponding blanket orders and rules of participating jurisdictions.

The Company has set November 27, 2015 as the record date for the purpose of determining existing shareholders eligibility to purchase Units pursuant to the Existing Shareholder Exemption. Subscribers purchasing Units under the Existing Shareholder Exemption will need to represent in writing that they meet certain requirements of the Existing Shareholder Exemption, including that they were, on or before the record date, a shareholder of the Company (and still are a shareholder). The aggregate subscription amount to any one subscriber under the Existing Shareholder Exemption cannot exceed $15,000.

Should the aggregate subscriptions received exceed the maximum 2,000,000 Units for the Private Placement, Units shall be allocated to the qualifying subscribers pro rata based on their offered subscription amounts.

Proceeds from this private placement will be used as general working capital. The shares will be subject to resale restrictions for a period of four months from closing under applicable securities legislation. The Private Placement is subject to TSX Venture Exchange final acceptance.

About Solarvest:

Solarvest BioEnergy Inc. 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 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 the Company's expectations and projections.

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