Mr. Gerri Greenham reports

SOLARVEST BIOENERGY INC. CLOSES PRIVATE PLACEMENT

Solarvest Bioenergy Inc. has closed its previously announced non-brokered private placement, pursuant to which the company has raised $192,000 through the issuance of 960,000 units at a price of 20 cents per unit. Each unit consists of one common share and one whole warrant. Each whole warrant entitles the holder to acquire one additional common share of the company at a price of 25 cents per share for a period of three years following closing and includes an acceleration clause that is triggered by a 20-day volume weighted average price greater than 55 cents per share.

Proceeds from this private placement will be used as general working capital. All securities issued pursuant to this tranche are subject to resale restrictions for a period of four months and one day from closing under applicable securities legislation.

An officer of the company participated in this financing on the same terms as other investors. This transaction is exempt from shareholder approval and valuation requirements in accordance with Multilateral Instrument 61-101 (Protection of Minority Security Holders in Special Transactions).

About Solarvest Bioenergy Inc.

Solarvest Bioenergy is an algae technology company that has an algal-based production platform which provides it with an extremely flexible system capable of being adapted to produce clean energy in the form of hydrogen and health products such as omega oils in an economic and environmentally sensitive manner.

We seek Safe Harbor.