VANCOUVER, BC–(Marketwired – April 24, 2017) –
** NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES **
Solar Alliance Energy, Inc. (‘Solar Alliance’) or (the ‘Company’) (TSX VENTURE: SAN) (OTCQB: SAENF) advises that further to the news release of April 10, 2017, the Company is pleased to announce that due to strong demand, it will be completing an expedited closing on up to $1,400,000 of Units, on a non-brokered basis. The Units issued pursuant to this non-brokered closing were sold at $0.16, with each Unit comprising one (1) common share and one (1) share purchase warrant with an exercise price of $0.25 and a term of term of 3 years. The Company shall pay certain finder’s fees on a portion of the non-brokered financing in cash and warrants.
Proceeds from the non-brokered private placement will be used for the assumption of service contracts from a U.S. solar company and for general working capital.
Solar Alliance will continue to work with Echelon Wealth Partners Inc. as sole agent to undertake the brokered private placement financing previously announced on April 10, 2017. Each Unit in the brokered private placement will consist of one common share of the Company (each, a “Common Share”) and one Common Share purchase warrant (each, a “Warrant”), with each Warrant entitling the holder thereof to purchase one Common Share at a price of $0.30 per Common Share for a period of three (3) years from the closing of the offering.
Jason Bak
Chairman and CEO
About Solar Alliance Energy, Inc. (www.solaralliance.com)
Solar Alliance is a sales, marketing and development company focused on residential, commercial and industrial solar installations. Since we were founded in 2003, we have developed wind and solar projects that provide enough electricity to power 150,000 homes. Solar Alliance is committed to an exceptional customer experience, effective marketing campaigns and superior lead generation in order to drive sales and generate value for shareholders. Our passion is improving life through ingenuity, simplicity and freedom of choice. We make solar simple and our goal is to install solar on every available rooftop in America.
Statements in this news release, other than purely historical information, including statements relating to the Company’s future plans and objectives or expected results, constitute forward-looking statements. The words “would”, “will”, “expected” and “estimated” or other similar words and phrases are intended to identify forward-looking information. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the Company’s actual results, level of activity, performance or achievements to be materially different than those expressed or implied by such forward-looking information. Such factors include, but are not limited to: uncertainties related to the ability to raise sufficient capital, changes in economic conditions or financial markets, litigation, legislative or other judicial, regulatory and political competitive developments and technological or operational difficulties. Consequently, actual results may vary materially from those described in the forward-looking statements.
“This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”) or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.”
“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.”
For more information:
Solar Alliance
Investor Relations
Spyros Karellas
Pinnacle Capital Markets
(416) 433-5696
spyros@pinnaclecapitalmarkets.ca