Vancouver, B.C., January 6th., 2021 – Solarvest BioEnergy Inc. (“Solarvest”, or the “Company”) (TSXV:SVS) announces that it has arranged the settlement of $73,500 of debt through the issuance of common shares of the Company, which is due to consulting and advisory service provider (the “Creditor”). Pursuant to the Debt Settlement, the Company would issue up to 525,000 common shares of the Company (the Shares”) at a deemed price of $0.14 per Share to the Creditor of the Company.
Completion of the settlement will be subject to the approval of the TSX Venture Exchange. All securities issued pursuant to the settlement are subject to resale restrictions for a period of four months and one day under applicable securities legislation.
Solarvest BioEnergy Inc. is an algae biotechnology company whose production platform provides it with an extremely flexible system capable of producing numerous valuable products from Organic Omega-3 fatty acids to therapeutic proteins/active ingredients. The company has successfully demonstrated (news release dated March 16th. 2015) the expression of BMP, a high value therapeutic protein, recombinant viral antigens (immune stimulating proteins), and Cecropins (antimicrobial peptide/protein). The company has initiated a program for the expression of CBD and THC to be produced in GMP fermentation facilities.
For further information contact:
Gerri Greenham, Chief Executive Officer
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.
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.