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Solar Alliance Energy Closes Book on $5 Million Marketed Private Placement of Units

· 02/05/2021 08:05

01:00 PM EST, 02/05/2021 (MT Newswires) -- Solar Alliance Energy (SOLR.V) has closed the book on a fully subscribed $5 million marketed private placement announced on January 29, 2021. The offering is expected to close on or about February 18. The agent has been granted a 15% over-allotment option.

Each unit will consist of one common share and one common share purchase warrant. Each warrant is exercisable for one common share priced at $0.60 for 24 months from the offering's close.

Net proceeds will be used to advance the company's solar product suite and for working capital purposes.

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