Vancouver, B.C. - TheNewswire - June 28, 2022 – Solarvest BioEnergy Inc. (“Solarvest” or the “Company”) (TSX:SVS) is pleased to announce that its 3rd quarter statements for the period ended  April 30, 2022, related management discussion and analysis have been filed and are now available on www.sedar.com.

       

This news release should be read in conjunction with the Quarterly Filings.

       

Business Update               

The company’s wholly-owned division Eversea America Inc. has received an initial US order for its Daily Omega (powder). Daily Omega is the company’s first adult product an organic certified pure alga that is high in triglyceride DHA. The recommended dosage is for each serving to provide 450mg. The company requested and received a prepayment due to the fact that the presentation and packaging were for a custom product.

When the expected early July funding is completed, the company will commence an e-commerce site revision and implement a USA affiliate program with leading American organic industry insiders.  A Public relations program and recruitment of US sales personnel will also move forward next month.

Eversea Inc. (wholly-owned division of SVS) has completed the development of a suite of organic products built on the foundation of our patented and patent-pending organic omega-3.  The first, our fruit gummy with over 80% organic fruit, is launched and the second flavour, is ready for production.  Additional products that are complete and now can be offered for white label and in-house branding are outlined below:

• Adult high dose powder in natural and cocoa flavors 

• Three shelf-stable functional shots – to support energy, vision & inflammation 

• Dry powder formulations that mirror the shots  

• Prenatal with folate 

• Healthynack presentation in two flavours. 

All these sales units are unique, highly innovative, and target some of the fastest-growing segments of the nutraceutical industry.  

The collaboration with E3Live is moving forward with the identification and documentation of a custom packaging company for their white label product. Now that Eversea America Inc. has a collaboration with an organic industry-leading and highly influential company, the strategy is to sign a high-volume packaged goods or a grocery retailer.  Talks are progressing with a few companies (US/Canadian and two Asia-Pacific) that fit this objective.  

Sales have commenced, albeit, at a rate less than anticipated in the Chinese market which has been slower than expected, primarily due to substantial Covid interruptions.  The almost complete shutdown of Shanghai port, due to worker shortages (attributed to severe lockdowns) has caused widespread problems. The social media seeding program (on all three platforms) has continued and the company has established a history of postings and influencer commentary that should serve us well over the next few months. The resumption of normal commercial activities will allow a sales program to commence in July.  

       

About Solarvest

Solarvest BioEnergy Inc. is an algae biologics company whose production platform provides it with an extremely flexible system capable of producing numerous products from Omega 3 fatty acids to human therapeutic proteins. The Company has successfully developed, patented and produced the world’s only plant-based organic certified Omega-3 to satisfy the substantial demand for this essential nutrient.  fermentation facilities.

For further information contact:

Gerri Greenham, CEO

Tel: (647) 204-4095

Email: invest@solarvest.ca

Forward-Looking Statement

This news release contains forward-looking statements, which relate to future events or future performance and reflect management's current expectations and assumptions. Such forward-looking statements reflect management's current beliefs and are based on assumptions made by and information currently available to the Company. Investors are cautioned that these forward looking statements are neither promises nor guarantees, and are subject to risks and uncertainties that may cause future results to differ materially from those expected. These forward-looking statements are made as of the date hereof and, except as required under applicable securities legislation, the Company does not assume any obligation to update or revise them to reflect new events or circumstances.

Neither the 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 press release.