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Solarvest Bioenergy Inc. Closes Private Placement

Tickers: XTSX:SVS
Tags: #AlternativeEnergy

Vancouver, BC / TheNewswire / June 13, 2019 - SOLARVEST BIOENERGY INC. (TSX-V: SVS) ("Solarvest" or the "Company"), is pleased to announce that it has closed a non-brokered private placement, pursuant to which the Company raised $80,000 through the issuance of 400,000 Units at a price of $0.20 per Unit. Each Unit consists of one common share and one common share purchase Warrant. Each Warrant entitles the holder to acquire one additional common share of the Company at a price of $0.25 per share for a period of three years following closing. In the event that the volume weighted average price of the common shares on the Exchange is equal to or greater than $0.55 per share for a period of 20 consecutive trading days at any time during the period of time commencing 12 months after closing until the expiry of the Warrants, the Company may at its option elect to accelerate the expiry date of the Warrants, such that the Warrants will expire on the 20th day after the date on which notice of such acceleration is given by the Company (the "Private Placement").

The Company has paid a cash commission of $1,600 and 8,000 whole share purchase warrants at the same term of the Private Placement. The net proceeds will be used for the production of inventory, sales and marketing, equipment purchases, patenting costs and general working capital. All securities issued pursuant to the financing are subject to resale restrictions for a period of four months and one day from closing under applicable securities legislation.

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 numerous products - from Omega 3 fatty acids to human therapeutic proteins. The company has successfully demonstrated (news release dated March 16th. 2015) the expression of BMP, a high value therapeutic protein. In addition, the company's platform has successfully produced recombinant viral antigens (immune stimulating proteins,) Cecropins (antimicrobial pepetide/protein). The company has completed a feasibility study for the expression of CBD and THC.as a way to produce CBD and THC in sterile bioreactors.

For further information contact:

Gerri Greenham, Chief Executive Officer

Tel: 416 420 0947 Email: ggreenham@solarvest.ca

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.

Copyright (c) 2019 TheNewswire - All rights reserved.

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