Mr. Claes Ellegaard reports

TSX-V GRANT SOLARVEST CLR EXTENSION TO AUGUST 31, 2023

Further to press release dated May 3, 2023, the TSX Venture Exchange requested Solarvest Bioenergy Inc. to provide a detailed analysis, subject to review and acceptance, to meet Tier 2 continued listing requirements (CLR) by July 20, 2023.

The company is pleased to announce that it has been granted an extension to Aug. 31, 2023, after submitting a detailed response for consideration to the TSX-V, to execute its plan to meet the CLR and to comply with the stringent requirements to maintain its listing on the TSX-V. There is no assurance that the company will receive any further extension beyond Aug. 31, 2023, and that the company may be transferred to NEX. The company will continue to pursue the sale of the building currently held by Summerville Holdings Inc. pursuant to an executed agreement between Eversea, the company's 100-per-cent wholly owned subsidiary and Summerville. Upon completion of the sale the company intends to repay the principal and all other contractual obligations in full to the shareholders of Summerville. Net proceeds from the sale to be used to restart operations and prioritize other financial obligations.

We seek Safe Harbor.