Vancouver (pcJ News Briefs) – Solar Alliance Energy, Inc. (TSX-V: SAN; OTCQB: SAENF) has engaged Echelon Wealth Partners Inc. as sole agent to undertake a brokered private placement financing, on a commercially reasonable basis, of up to 31,250,000 units at a price of $0.16 per unit for gross proceeds of up to $5,000,000.
Each unit will consist of one common share and one common share purchase warrant entitling the holder thereof to purchase one common share at a price of $0.30 per share for a period of two years from the closing of the offering.
Net proceeds are anticipated to be used to fund the company’s previously announced expansion plans and for general working capital.
Solar Alliance is a sales, marketing and development company focused on residential, commercial and industrial solar installations. Since its founding in 2003, Solar Alliance has developed wind and solar projects that provide enough electricity to power 150,000 homes.
photo credit: Solar Alliance Energy Inc.