Mr. Gerri Greenham reports

SOLARVEST BIOENERGY INC. SIGNS LOI TO ACQUIRE REVENUE PRODUCING NUTRACEUTICAL PERCEPTIV EXCLUSIVE FOR NORTH AMERICA

Solarvest Bioenergy Inc. has signed a non-binding letter of intent with Sevo Nutraceuticals Inc. for exclusive North American rights to Perceptiv, a nuraceutical formulation focused on the growing brain health market.

Solarvest will sublicense the rights from Sevo, which holds the worldwide, exclusive licence from University of Massachusetts Lowell, which originally developed the product.

Solarvest will be the North American partner in conjunction with Sevo's global marketing plan to grant regional sublicensees in many international markets.

The letter of intent proposes that Solarvest will make a payment to Sevo of $375,000 (U.S.) on closing of the licence and will subsequently be responsible for paying a sliding-scale royalty calculated on net revenue, subject to certain minimum payments. Solarvest would also be responsible for paying Sevo an additional $500,000 (U.S.) per year for five years if certain U.S. Food and Drug Administration submitted evidence-based claim approvals are obtained. All terms of the agreement are subject to Solarvest's due diligence and negotiation of a definitive licence agreement.

Perceptiv is a patented nutraceutical clinically shown to protect against the normal cognitive decline associated with aging. Sevo completed a print-only test market of Perceptiv in 2016, which produced sales of approximately $2-million. It has the distinction of being supported by seven published clinical trials and 20 years of research. Solarvest looks forward to taking Perceptiv into widespread release in North America.

The letter of intent between the parties is non-binding, pending continued due diligence, board approvals, signing of a definitive licence agreement and Solarvest successfully completing a $2.5-million equity raise.

About Solarvest Bioenergy Inc.

Solarvest is an algae technology company that owns numerous key patents. The company's organic omega-3 patent is issued in Europe, the United Kingdom, the United States, Canada, Japan, India, China, South Korea, Hong Kong and Australia and is being defended in other significant countries. Its patented process produces the world's first organic DHA (eicosapentaenoic acid) and EPA (docosahexaenoic acid) omega-3 using algae. The company has been working with a contract manufacturer to achieve economic/commercial yields and is poised to supply the $25-billion global omega-3 market.

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