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Solar Alliance Energy Corp. Announces $5 Million Marketed Private Placement of Units
Solar Alliance Energy Corp. Announces $5 Million Marketed Private Placement of Units ...
About this update from Solar Alliance Energy Inc.
[{"type":"text","content":"\n \n \n \n Solar Alliance Energy Corp. Announces $5 Million Marketed Private Placement of Units\n \n \n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prntac{\nTEXT-ALIGN: CENTER\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n /NOT FOR DISTRIBUTION TO\n \n UNITED STATES\n \n NEWSWIRE SERVICES OR FOR DISSEMINATION IN\n \n THE UNITED STATES\n \n /\n \n \n \n TORONTO\n \n ,\n \n Jan. 29, 2021\n \n /CNW/ - SOLAR ALLIANCE ENERGY CORP. (TSXV: SOLR) (the \"\n \n Company\n \n \" or \"\n \n Solar Alliance\n \n \") is pleased to announce it has entered into an agreement with Echelon Wealth Partners Inc. as sole agent (the \"\n \n agent\n \n \"), pursuant to which the agent has agreed to a marketed private placement of up to  11,910,000 units of the Company (the \"\n \n Units\n \n \") at a price of\n \n $0.42\n \n per Unit (the \"\n \n Issue Price\n \n \"), for total gross proceeds of up to\n \n $5,002,200\n \n (the \"\n \n Offering\n \n \").\n \n \n Each Unit will consist of one common share (a \"\n \n Common Share\n \n \") in the capital of the Company and one Common Share purchase warrant (a \"\n \n Warrant\n \n \") of the Company. Each Warrant shall be exercisable to acquire one Common Share (a \"\n \n Warrant Share\n \n \") at a price per Warrant Share of\n \n $0.60\n \n for a period of 24 months from the closing date of the Offering.\n \n \n The Company has granted the agent an option to purchase up to an additional 15% of the Offering in Units, exercisable in whole or in part at any time up to 48 hours prior to the closing date.\n \n \n The net proceeds from the sale of the Units will be used to fund advancement of the Company's solar product suite and for working capital purposes.\n \n \n The Offering is expected to close on or about\n \n February 18, 2021\n \n and is subject to certain conditions including, but not limited to, the receipt of all necessary approvals including the approval of the TSX Venture Exchange and the applicable securities regulatory authorities. The Units to be issued under the Offering will be subject to a hold period in\n \n Canada\n \n expiring four...