Vancouver, British Columbia--(Newsfile Corp. - July 27, 2023) - The Company (TSXV: SVS) is very pleased to announce that it has received Notice of Allowance and Notice of Allowability from the U.S. Patent & Trademark Office for it US Algal Juice Media Patent Application, U.S. Patent Application No.: 14/896,809 - METHODS AND PRODUCING ALGAL CELL CULTURES AND BIOMASS, LIPID COMPOUNDS AND COMPOSITIONS, AND RELATED PRODUCTS - RIVEROLL et al.

Solarvest CEO Claes Ellegaard comments, "We are very pleased with this official validation of our unique approach to making our Eversea Organic certified, all natural, high potency Omega-3 DHA. This just strengthens our resolve to make our unique product commercially available and we intend to aggressively market it with our partners."

Max Goldberg, founder of Organic Insider, the organic industry's most influential newsletter, and an advisor to the company adds, "The announcement of the patent for Eversea's novel manufacturing process is an absolute game-changer for both the company and the marketplace, and it gets us one step closer to being able to offer the world's first certified organic omega-3 DHA powder to health-conscious, organic consumers everywhere."

The board of directors and management would like to thank shareholders, vendors and partners for their patience and continued support.

For further information contact:

Claes Ellegaard

Chief Executive Officer

Phone: 1.514.898.3488

Email: invest@solarvest.ca

Forward-Looking Statement

This news release contains statements that constitute "forward-looking information" within the meaning of Canadian securities laws ("forward-looking statements"), which are based upon our current expectations, estimates, projections, assumptions and beliefs. All information that is not clearly historical in nature may constitute forward-looking statements. Forward-looking statements are typically identified by the use of terms or phrases such as "anticipate", "believe", "could", "estimate", "expect", "intend", "may", "plan", "predict", "project", "will", "would" and "should", and similar terms and phrases, including references to assumptions.

Forward-looking statements, by their nature, are based on assumptions and are subject to known and unknown risks and uncertainties, both general and specific, that contribute to the possibility that the forward-looking statement will not occur. The forward-looking statements in this press release speak only as of the date hereof and reflect several material factors, expectations and assumptions. While Solarvest considers these factors, expectations and assumptions to be reasonable, actual events or results could differ materially from the results, predictions, forecasts, conclusions or projections expressed or implied in the forward-looking statements. Undue reliance should not be placed on any predictions or forward-looking statements as these may be affected by, among other things, changing external events and general uncertainties of the business. A discussion of the material risks applicable to us can be found in our current Management Discussion and Analysis, which will be filed on SEDAR and can be accessed at www.sedar.com. Solarvest cautions that the list of risk factors included in such Management Discussion and Analysis is not exhaustive. Except as required by applicable securities laws, forward-looking statements speak only as of the date on which they are made and we disclaim any intention and assume no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.

Neither the TSX Venture Exchange nor its regulation services provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this press release.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/175170