Solar Alliance Energy Inc. announced a brokered private placement on best effort basis of up to 25,000,000 units at a price of CAD 0.08 per unit for proceeds of up to CAD 2,000,000 on July 20, 2023. Each Unit consists of one Common Share and one Common Share purchase warrant. Each Warrant will entitle the holder thereof to purchase one Common Share of the Company at an exercise price of CAD 0.12 per warrant for the 36 month period following the Closing Date.

The Company will grant the Agent an option, exercisable in full or in part, up to 48 hours prior to the closing of the Offering, to sell up to an additional 3,750,000 Units at the Issue Price for additional gross proceeds of up to CAD 300,000. The Offering is anticipated to close on or about August 28, 2023, or such other date as the Company and the Agent may agree. Closing of the Offering is subject to certain conditions including, but not limited to, the execution of an agency agreement and the receipt of all necessary regulatory and other approvals, including the approval of the TSX Venture Exchange.

The securities issued under the Offering will be subject to a ?hold period? of four months and one day from Closing Date under applicable Canadian securities laws.