|By Marketwired .||
|October 4, 2013 07:57 PM EDT||
TORONTO, ONTARIO -- (Marketwired) -- 10/04/13 -- Gerri Greenham announced today that he has acquired 200,000 Units in Solarvest BioEnergy Inc. (the "Company") pursuant to a private placement at $0.25 per Unit for a total purchase price of $50,000. Each Unit consists of one common share and one half warrant. Each whole warrant is exercisable for one common share at $0.35 for a period of eighteen months following the closing and include an acceleration clause that is triggered by a share price of $0.60 per share.
As a result of this acquisition, Mr. Greenham now holds 7,724,000 common shares of the Company representing approximately 50.2% of the common shares currently outstanding. Mr. Greenham also holds warrants to purchase an additional 100,000 common shares and stock options to purchase an additional 70,000 common shares. If Mr. Greenham exercises his warrants and stock options, he will hold 7,894,000 common shares of the Company representing approximately 50.75% of the outstanding common shares.
Mr. Greenham is a resident of Stouffville, Ontario and acquired these common shares and warrants for investment purposes, and may, from time to time, acquire additional securities of the Company or dispose of such securities as he may deem appropriate.
Cawkell Brodie Glaister LLP
Kenneth A. Cawkell
The agent of the Investor
604-684-3323 x 223