Solarvest sells its installations in Prince Edward Island

Vancouver, British Columbia–(Newsfile Corp. – September 30, 2024) – Solarvest BioEnergy Inc. (TSXV: SVS.H) (“Solarvest”, or the “Company”), an algae-based bioproducts company specializing in the production of organic ingredients and marketing of pharmaceutical grade ingredients and health supplements, announces the imminent sale of the manufacturing and R&D facilities in Summerville, Prince Edward Island.

Net proceeds from the sale of 3867 Greenfeild Rd, Summerville, PEI, expected in November 2024, are expected to prioritize immediate needs, maintenance of future assets, creditor obligations and financing of the marketing of Solarvest’s exclusive organic omega 3 products. “Focusing on commercializing existing developed and differentiated patented products and processes will put Solarvest on a path to success and demonstrate its value to future partners and investors,” says Grant Larsen, CEO of Solarvest.

Additionally, Solarvest announces the appointment of a new board director and the resignation of 2 board members. Alex MacKay, with extensive capital markets experience, a strong financial background and experience with Solarvest, will join the Board of Directors to lead the transition and focused restructuring of Solarvest. Solarvest would like to thank Ken W. Campeau and Max Goldberg for their work and commitment to helping Solarvest on its path to success. Mr. Goldberg will continue to advise Solarvest on global “organic and omega 3” partnerships in the future. The Solarvest Board of Directors will continue to recruit directors and advisors who bring skills and value to the recovery and monetization of the company’s assets.

ABOUT SOLARVEST

Solarvest is a Canadian algae biological research company holding several unique patents in the production of biological ingredients with global commercial product applications. With a commitment to innovation and a desire to harness the power of nature, Solarvest is poised to transform the healthcare landscape with its proprietary biological solutions.

For more information, please visit www.solarvest.com

For more information contact:
Grant Larsen
General manager
Telephone: 1.647.992.6487
Email: [email protected]

Forward-looking statement

This press release includes forward-looking information and statements, which may include, but are not limited to, information and statements regarding or inferring the company’s business, operations, financial performance, prospects and other plans, intentions, expectations, estimates and future beliefs. of the Company. Forward-looking information and statements involve and are subject to assumptions and known and unknown risks, uncertainties and other factors that may cause the actual events, results, performance or achievements of the Company to be materially different from the actual events, results, performance or achievements of the Company. performance, and achievements expressed or implied by the forward-looking information and statements contained herein. Although the Company believes that the forward-looking information and statements contained herein are reasonable, in light of the use of assumptions and the significant risks and uncertainties inherent in such information and statements, there can be no assurance that such forward-looking information and statements will prove to be accurate and, accordingly, readers are advised to rely on their own assessment of such risks and uncertainties and not to place undue reliance on such forward-looking information and statements. All forward-looking information and statements contained herein are made as of the date hereof, and except as required by applicable laws, the Company assumes no obligation and disclaims any intention to update or revise the information and statements forward-looking statements contained herein or to update the reasons. that actual events or results may vary or differ from those projected in the forward-looking information and statements contained herein, whether as a result of new information, future events or results, or otherwise, except as required by applicable laws require it.

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