Solarvest BioEnergy Inc. announced that at the Annual and Special Meeting of shareholders held on October 25, 2022 appointed Claes Ellegaard, current CEO of the Company, as an additional director to increase the total number of directors to four. The Company announced that, in connection with its Collaborative Research and Development Agreement with FSD Pharma Inc., it has appointed Mr. Donal Carroll to the board as a director. Mr. Carroll is an experienced business executive having 20 years of corporate finance leadership and public company experience, as well as deep expertise in syndicate investing both in equity and debt securities.

He is currently a director and Chief Financial Officer of FSD Pharma Inc., Solarvests strategic partner. With a balance of prudent financing practices and business insights, Mr. Carroll has successfully guided companies through expansion and growth. Mr. Carroll was previously with Danaher, Alberto Culver (now Unilever and Cardinal Meats, where he was instrumental in major restructuring activities, mergers and acquisitions and the implementations of new internal controls and ERP systems resulting in significant efficiencies through periods of substantial change and strong company growth.

Since September 15, 2017, Mr. Carroll has been a Director of Bird River Resources Inc. He holds a CPA-CMA designation as well as a Bachelor of Commerce degree from University College Dublin. The Company announced that, concurrent with the appointment of Mr. Carroll, Gerri Greenham, founder and long-time director and officer, has resigned from the board due to personal reasons. The following are now members of the board of directors of the Company: William Cheliak (Chair), Gregory Drohan, Claes Ellegaard and Donal Carroll.