Vancouver, BC / TheNewswire / June 13, 2018 - SOLARVEST BIOENERGY INC. (TSX-V:SVS) ("Solarvest") announces that it has settled the sum of US$43,651.52, which has been due to Barnes & Thornburg LLP in connection with legal services rendered in connections with the Company's patents, by way of a shares for debt. Pursuant to an agreement the total debt was settled through the issuance of 256,909 common shares at a deemed price of Cdn$0.22 per share.
The common shares issuable pursuant to the agreement are subject to resale restrictions for a period of four months from the closing date under applicable securities legislation.
Solarvest is an algae technology company that owns numerous key patents and whose algal-based production platform provides it with an extremely flexible production system. The Company's wholly owned subsidiary, Solarvest PEI, has developed a patented (pending) process to produce the world's first organic Omega-3 using algae, to help meet the 13 billion dollar global Omega-3 market. The Solarvest system utilizes a natural process growing the algae under closely controlled conditions ensuring that the health product(s) produced have none of the environmental contaminants found in our oceans. Organic certification provides assurance that the product(s) is GMO free, sustainable, produced without chemicals and, being algae, supports vegetarian and vegan diets. Solarvest's licensed Organic Omega-3 products will offer the consumer a healthy and sustainable product choice.
For further information contact: Gerri Greenham, Chief Executive Officer
Tel: 416 420 0947 Email: email@example.com
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 Solarvest's expectations and projections.