Vancouver, Canada, December 14th, 2017 – Solar Alliance Energy Inc. (‘Solar Alliance’) or (the ‘Company’) (TSX-V: SAN, OTC: SAENF) is pleased to announce it has completed the statutory plan of arrangement among the Company, its securityholders, Concord Green Energy Inc. (“Green Energy”), Solar Alliance Energy, Inc. (formerly, 1134370 B.C. Ltd.) (“new Solar Alliance Energy, Inc.”), Finavera Solar Holdings, Inc., Finavera Renewables (Ireland) Limited, Wildmare Wind Energy Limited Partnership and Bullmoose Wind Energy Limited Partnership (the “Arrangement”). The Arrangement, announced on September 15, 2017, involves the sale of certain wind project assets to Green Energy for $1,400,000. As previously announced, the Company received shareholder approval for the Arrangement at the annual and special meeting of its shareholders held on December 4, 2017. Pursuant to the Arrangement, common shares, options, warrants and rights convertible into shares of the Company held by securityholders have been cancelled and have been exchanged for equivalent securities of new Solar Alliance Energy, Inc. Shares in new Solar Alliance Energy, Inc. will trade on the TSX Venture Exchange under the ticker symbol “SOLR”.
On behalf of the Board of Directors
Jason Bak, Chairman and CEO
About Solar Alliance Energy Inc. (www.solaralliance.com)
Solar Alliance is a sales, marketing and development company focused on residential, commercial and industrial solar installations. Since we were founded in 2003, we have developed wind and solar projects that provide enough electricity to power 150,000 homes. Solar Alliance is committed to an exceptional customer experience, effective marketing campaigns and superior lead generation in order to drive sales and generate value for shareholders. Our passion is improving life through ingenuity, simplicity and freedom of choice. We make solar simple and our goal is to install solar on every available rooftop in America.
Statements in this news release, other than purely historical information, including statements relating to the Company’s future plans and objectives or expected results, constitute Forward-looking statements. The words “would”, “will”, “expected” and “estimated” or other similar words and phrases are intended to identify forward-looking information. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the Company’s actual results, level of activity, performance or achievements to be materially different than those expressed or implied by such forward-looking information. Such factors include, but are not limited to: uncertainties related to the ability to raise sufficient capital, changes in economic conditions or financial markets, litigation, legislative or other judicial, regulatory and political competitive developments and technological or operational difficulties. Consequently, actual results may vary materially from those described in the forward-looking statements.
“Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.”