Solarvest Receipt of Notice of Requisition of a Meeting of Shareholders

Vancouver, British Columbia--(Newsfile Corp. - August 3, 2023) - Solarvest BioEnergy Inc. (TSXV: SVS) ("Solarvest" or the "Company") announces, that a notice of requisition of a general meeting of shareholders (the "Requisition") was delivered to the registered office of the Company on July 24, 2023.

The Requisition has been made by Garth Greenham and LMC Communications Inc. and would, if valid, require that the Company call and hold a general meeting of shareholders, pursuant to section 167 of the Business Corporations Act (British Columbia) (the "Act"). The purpose of the proposed meeting is to effect changes to the Board of Directors.

The Company is reviewing the Requisition, including its validity, and will respond within the time required by the Act.

About Solarvest

Solarvest BioEnergy Inc. is an algae biologics company whose production platform provides it with an extremely flexible system capable of producing numerous products from Omega 3 fatty acids to human therapeutic proteins.

For further information contact:

Claes Ellegaard
Phone: 1.514.898.3488
Email: [email protected]

Forward-Looking Statement

This news release contains forward-looking statements, which relate to future events or future performance and reflect management's current expectations and assumptions. Such forward-looking statements reflect management's current beliefs and are based on assumptions made by and information currently available to the Company. Investors are cautioned that these forward looking statements are neither promises nor guarantees, and are subject to risks and uncertainties that may cause future results to differ materially from those expected. These forward-looking statements are made as of the date hereof and, except as required under applicable securities legislation, the Company does not assume any obligation to update or revise them to reflect new events or circumstances.

Neither the 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 press release.

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