Mr. Garth Greenham reports

SOLARVEST ANNOUNCES WITHDRAWAL OF SHAREHOLDER REQUISITION AND DIRECTOR CHANGES

Solarvest Bioenergy Inc. has reached an amicable settlement with the shareholders of the company that had sent a shareholder requisition to the company on July 24, 2023. Accordingly, the concerned shareholders have withdrawn their requisition for a special meeting of shareholders, as announced by the concerned shareholders in a press release dated Aug. 3, 2023.

As part of the amicable settlement:

• The concerned shareholders have withdrawn their requisition for a special meeting of shareholders, as announced by the concerned shareholders in a press release dated Aug. 3, 2023;
• Garth Greenham, Dr. Michael Farley and Eugenio-Noel Cuesta have been appointed to the board of directors of the company effective immediately to fill the vacancies left by Claes Ellegaard, who will remain as chief executive officer, Gregory Drohan and Donal Carroll who have agreed to resign as directors of the company;
• The concerned shareholders have arranged a $100,000 bridge loan for the company;
• The company has agreed to pay or reimburse all fees and expenses incurred by the concerned shareholders.

Mr. Greenham

Mr. Greenham, is the former executive of the company and a corporate director with an extensive record with both privately held and publicly traded health care companies. He served as president of the global aquaculture division of Novartis Inc. He started his career with Johnson & Johnson (J&J) where he served 15 years mostly with McNeil Pharmaceutical in numerous management positions in operations and contract and export sales. He joined Cobequid Life Sciences Inc. (KQR) and served as director of sales, marketing and operations for nine years and helped grow the company to global leader in the field of aquaculture animal vaccines. He was chief operating officer of Solarvest until April, 2023.

Mr. Cuesta

Mr. Cuesta holds an MSc in mechanical engineering, with postgraduate studies in mechanical vibration and nuclear engineering. He has been responsible for new product testing and implementation for Hydro-Quebec's testing and commissioning group. He also worked as a physicist at its reactor physics group at the Gentilly-2 nuclear power plant from 2006 to 2014. Prior to working at Hydro-Quebec, he was a professor of mechanical engineering at Simon Bolivar University in Caracas, Venezuela.

Dr. Farley

Dr. Farley is an entrepreneur and corporate, business adviser to health and wellness companies in international markets. Dr. Farley was involved in dozens of financial, market entry, and merger and acquisition transactions since the early 2000s. He is also partnered with a corporate advisory firm Switzerland offering investor relations services to NA life science small caps in Europe. In the 1990s Dr. Farley managed technology and investment programs at the Canadian Foreign Affairs Department. He holds a PhD in the philosophy of science from the Universite de Montreal.

About Solarvest Bioenergy Inc.

Solarvest Bioenergy 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.

We seek Safe Harbor.