VANCOUVER, BC–(Marketwired – April 26, 2017) – Solar Alliance Energy Inc. (‘Solar Alliance’) or (the ‘Company’) (TSX VENTURE: SAN) (OTC: SAENF) is pleased to announce the completion of a private placement of 8,064,332 units (each a “Unit”) out of the offering announced in the Company’s news release of April 24, 2017, at an issue price of $0.16 per Unit for gross proceeds of $1,290,293 (the “Offering”). Each Unit is comprised of one common share and one share purchase warrant, where each whole warrant (a “Warrant”) may be exercised to purchase a further common share at a price of $0.25 for a period of 3 years. The hold period expires on August 26, 2017 in respect of the shares and Warrants comprising the Units and the shares issued upon any exercise of the Warrants.
Proceeds from the Offering will be used for the assumption of service contracts from a U.S. solar company and for general working capital.
The Company paid finder’s fees of $87,319 and issued 545,747 finder’s warrants (having the same characteristics as the Warrants) in connection with 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.
“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