Solar Alliance Announces Private Placement

Solar Alliance

Solar Alliance notes that each unit 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 two (2) years from the closing of the Offering.

Solar Alliance Energy, Inc. has announced that it has engaged Echelon Wealth Partners Inc. (“Echelon”) as sole agent to undertake a brokered private placement financing, on a commercially reasonable basis, of up to 31,250,000 units (each, a “Unit”) at a price of $0.16 per Unit for gross proceeds to the Company of up to $5,000,000 (the “Offering”).

Solar Alliance notes that each unit 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 two (2) years from the closing of the Offering.

The completion of the Offering is subject to a number of conditions, including, but not limited to, the execution of an agency agreement with Echelon in connection with the Offering and receipt of all required regulatory approvals, including approval of the TSX Venture Exchange (the “TSXV”). All securities issued pursuant to the Offering will be subject to a statutory hold period expiring four months and one day after issuance under the Offering.

Net proceeds of the Offering are anticipated to be used to fund the Company’s previously announced expansion plans and for general working capital.

None of the securities issued in connection with the Offering will be registered under the United States Securities Act of 1933, as amended (the “1933 Act”), and none of them may be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the 1933 Act notes Jason Bak, Chairman and CEO Solar Alliance.

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