Solar Alliance closes $1.29M expedited private placement

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By CPE News

Vancouver (pcJ News Briefs) – Solar Alliance Energy, Inc. (TSX-V: SAN; OTCQB: SAENF) has closed its previously announced expedited non-brokered private placement of 8,064,332 units at $0.16 per unit for gross proceeds of $1,290,293.

Each unit is comprised of one common share and one share purchase warrant exercisable for an additional common share at a price of $0.25 for a period of 3 years.

Proceeds will be used for the assumption of service contracts from a U.S. solar company and for general working capital.

Solar Alliance continues to work with Echelon Wealth Partners Inc. as sole agent to undertake previously announced $5 million brokered private placement financing

photo credit: Solar Alliance Energy Inc.