Solar Alliance announced $1,000,000 non-brokered private placement and shares for debt exchange

/NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR DISSEMINATION IN THE UNITED STATES/

TORONTO and KNOXVILLE, Tenn., May 14, 2024 (GLOBE NEWSWIRE) -- Solar Alliance Energy Inc. (‘Solar Alliance’ or the ‘Company’) (TSX-V: SOLR), a leading solar energy solutions provider focused on the commercial and industrial solar sector, is pleased to announced its intention to complete a non-brokered private placement of up to 20,000,000 units of the Company (the “Units”) at a price of C$0.05 per Unit for gross proceeds of up to C$1,000,000 (the “Offering”). Each Unit will be comprised of one (1) common share of the Company (a “Common Share”) and one (1) Common Share purchase warrant (a “Warrant”). Each Warrant will entitle the holder thereof to acquire one (1) Common Share (a “Warrant Share”) at an exercise price of C$0.07 per Warrant Share at any time for a period of thirty-six (36) months following the closing of the Offering. Closing of the Offering is expected to be on or about June 20, 2024 or such other date or dates that that the Company may determine.

Read more at globenewswire.com