18:43:49 EDT Thu 28 Mar 2024
Enter Symbol
or Name
USA
CA



Solarvest Bioenergy Inc
Symbol SVS
Shares Issued 23,460,216
Close 2018-05-31 C$ 0.22
Market Cap C$ 5,161,248
Recent Sedar Documents

Solarvest closes $100,000 private placement

2018-06-08 15:27 ET - News Release

Mr. Gerri Greenham reports

SOLARVEST BIOENERGY INC. CLOSES PRIVATE PLACEMENT & EXTENDS WARRANTS

Solarvest Bioenergy Inc. has closed its previously announced non-brokered private placement, pursuant to which an investor purchased from the company an aggregate 400,000 units at a price of 25 cents per unit for gross proceeds of $100,000. 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 35 cents per share for a period of two years following closing and includes an acceleration clause that is triggered by a 20-day volume-weighted average price greater than 95 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.

Solarvest further reports that, further to the news release of May 18, 2018, the company has received consent from the TSX Venture Exchange to extend the expiry date of certain common share purchase warrants, which were issued pursuant to a private placement which closed in three tranches in December, 2015, February, 2016, and April, 2016.

Solarvest has now extended the expiry date of an aggregate 600,000 warrants, such that 300,000 warrants will expire June 4, 2020, 100,000 warrants will expire Aug. 4, 2020, and 200,000 warrants will expire Oct. 5, 2020, with all other terms and conditions, including the exercise price of 35 cents per share, remaining unchanged.

About Solarvest Bioenergy Inc.

Solarvest is a biotechnology company with an algal-based production platform that provides it with a flexible system capable of being adapted to produce health products, such as omega oils or clean energy in the form of hydrogen, in an economic and environmentally sustainable manner.

We seek Safe Harbor.

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