VANCOUVER, BRITISH COLUMBIA -- (Marketwired) -- 02/18/16 -- SOLARVEST BIOENERGY INC. (TSX VENTURE: SVS) ("Solarvest" or the "Company"), is pleased to announce that, in accordance with the Company's Stock Option Plan, it has granted to certain directors, officers, employees and consultants, incentive stock options to purchase up to an aggregate of 970,000 common shares exercisable at a price of $0.30 per share for a period of five years from the grant date. Of these stock options, 550,000 were granted to Insiders of the Company, including a grant of 70,000 options to an officer and director who is also a Control Person of the Company and is exempt from shareholder approval accordance with section 5.7(1)(a) of MI 61-101.
The number of listed shares reserved for issuance under Solarvest's Stock Option Plan is 2,158,021 (10% of the issued and outstanding shares of the Company). There are an aggregate 1,340,000 options are now outstanding and 818,021 options available for future grants.
About Solarvest BioEnergy Inc.:
Solarvest is an algae technology company that owns numerous key patents and whose algal-based production platform provides it with an extremely flexible production system. The Company's wholly owned subsidiary, Solarvest PEI, has developed a patented (pending) process to produce the world's first organic Omega-3 using algae, to help meet the 13 billion dollar global Omega-3 market. The Solarvest system utilizes a natural process growing the algae under closely controlled conditions ensuring that the health product(s) produced have none of the environmental contaminants found in our oceans. Organic certification provides assurance that the product(s) is GMO free, sustainable, produced without chemicals and, being algae, supports vegetarian and vegan diets. Solarvest's licensed Organic Omega-3 products will offer the consumer a healthy and sustainable product choice.
The TSX Venture Exchange has neither approved nor disapproved the contents of this news release.
Neither 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 release.
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 Solarvest's expectations and projections.
Contacts:
Solarvest BioEnergy Inc.
Gerri Greenham
Chief Executive Officer
416 420 0947
ggreenham@solarvest.ca
