VANCOUVER, BRITISH COLUMBIA--(Marketwire - Jan 3, 2013) - SOLARVEST BIOENERGY INC. (TSX VENTURE:SVS) ("Solarvest" or the "Company") wishes to announce it has arranged a non-brokered private placement, pursuant to which the investor will purchase from Solarvest up to 500,000 common shares priced at $0.20 per share for gross proceeds of $100,000. Proceeds from this private placement will be used as general working capital.
This placement will be entirely subscribed by a director and officer who is also a Control Person of the Company and the placement is exempt from shareholder approval accordance with MI 61-101 (Protection of Minority Security Holders in Special Transactions).
The shares will be subject to resale restrictions for a period of four months from the closing date under applicable securities legislation. Completion of the private placement will be subject to a number of conditions including the approval of the TSX Venture Exchange.
The statements made in this news release may contain forward-looking statements that may involve a number of risks and uncertainties. Actual events or results could differ materially from the Company''s expectations and projections.