CORRECTION: Solarvest BioEnergy Inc. Announces Non-Brokered Private Placement
09 June 2011 - 9:07AM
Marketwired
This corrects and replaces the release issued earlier today June 8,
2011 by Marketwire on behalf of Solarvest BioEnergy Inc. The
headline in the release was incorrect, Solarvest BioEnergy is
announcing not closing a non-brokered private placement.
SOLARVEST BIOENERGY INC (TSX VENTURE: SVS) ("Solarvest" or the
"Company"), wishes to announce it has arranged a non-brokered
private placement, pursuant to which the investors will purchase
from the Company up to 300,000 common shares priced at $0.25 per
share for gross proceeds of $75,000. Proceeds from this private
placement will be used as general working capital.
This placement will be entirely subscribed by 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).
The shares will be subject to resale restrictions for a period
of four months from the closing date under applicable securities
legislation. Completion of the private placement will be subject to
a number of conditions including the approval of the TSX Venture
Exchange.
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
Solarvest BioEnergy (TSXV:SVS)
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