Mr. Grant Larsen reports

SOLARVEST SELLS PEI FACILITY

Solarvest Bioenergy Inc. has provided an update on the pending sale of the Summerville Prince Edward Island manufacturing and R&D (research and development) facility.

The net proceeds from the sale of 3867 Greenfeild Rd., Summerville, PEI, expected in November, 2024, are planned to prioritize immediate requirements, maintaining future assets, creditor debt obligations and funding the commercialization of Solarvest's proprietary organic omega 3 products. "Focusing on commercializing existing developed and differentiated patented products and processes will set Solarvest on a path to success and demonstrate the value to future partners and investors," says Grant Larsen, chief executive officer of Solarvest.

Additionally, Solarvest announces the appointment of a new board director and the resignations of two board members. Alex MacKay, with extensive capital market experience, a strong financial background and experience with Solarvest, will join the board of directors to lead the transition and focused restructuring of Solarvest. Solarvest would like to thank Ken W. Campeau and Max Goldberg for their work and commitment to help Solarvest on a path to success. Mr. Goldberg will continue to advise Solarvest on global organic and omega 3 partnerships moving forward. The Solarvest board will continue to add directors and advisers that bring skills and value to the relaunch and monetization of corporate assets.

About Solarvest Bioenergy Inc.

Solarvest is a Canadian algal biologic research company with several unique patents in organic ingredient production with global commercial product applications. With a commitment to innovation and a dedication to harnessing the power of nature, Solarvest is poised to transform the landscape of health care with its proprietary organic solutions.

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