Solarvest BioEnergy Inc. Closes Non-Brokered Private Placement
April 06 2011 - 6:21PM
Marketwired
SOLARVEST BIOENERGY INC (TSX VENTURE: SVS) ("Solarvest" or the
"Company"), wishes to announce it has closed a non-brokered private
placement, pursuant to which investors purchased from the Company
300,000 common shares at a price of $0.25 per share for gross
proceeds of $75,000.
One of the subscribers to this placement is a director and
officer who is also a Control Person of the Company and the
placement is exempt from shareholder approval accordance with MI
61-101 (Protection of Minority Security Holders in Special
Transactions).
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.
About Solarvest: Solarvest is committed to the development of
sustainable and renewable energy sources to meet growing energy
demands and environmental challenges. Solarvest's intellectual
property is a biologically-based hydrogen producing technology,
which provides a method for controlling key genes in algae
resulting in the continuous production of hydrogen gas. Solarvest's
bio-energy production system utilizes light and carbon dioxide to
produce hydrogen leaving a clean positive environmental
footprint.
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.
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.
Contacts: Solarvest BioEnergy Inc. Gerri Greenham Chief
Executive Officer 416 420 0947 ggreenham@solarvest.ca
www.solarvest.ca
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