Solarvest Transition to NEX

Vancouver, British Columbia--(Newsfile Corp. - January 12, 2024) - Further to Solarvest's (TSXV: SVS.H) (or "the Company"s) press releases dated May 3, 2023 and July 24, 2023 and to the Exchange's Notice to transfer to NEX dated September 15, 2023, the Company confirms that the Exchange has issued a bulletin to transfer the Company's securities to NEX effective at the opening on Tuesday, January 9, 2024. Currently, trading remains suspended.

The Company is pursuing the sale of the building currently held by Summerville Holdings Inc. ("Summerville") pursuant to an executed agreement between Eversea, the Company's 100% wholly owned subsidiary and Summerville. Upon completion of the sale the Company intends to repay the principal and all other contractual obligations in full to the shareholders of Summerville. Net proceeds from the sale to be used to restart operations and prioritize other financial obligations.

About NEX

NEX is a unique and separate board of TSX Venture Exchange. It provides a unique trading forum for listed companies that have fallen below TSX Venture's ongoing listing standards.

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:

Leslie Auld
Chief Financial Officer
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.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/194109