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Share sale to benefit Solarvest Bioenergy

Canadian business Solarvest Bioenergy has closed a non-brokered private placement, in which an investor purchased 400,000 common shares at a price of $0.25 (€0.19) per share for gross proceeds of $100,000.

SB says the proceeds from this private placement will be used as general working capital. The shares will be subject to resale restrictions for a period of four months from closing under applicable securities legislation.

This placement was subscribed by a director and officer who is also a control person of SB and the placement is exempt from shareholder approval accordance with MI 61-101 (Protection of Minority Security Holders in Special Transactions).