Solar Alliance Energy Inc. announced a non-brokered private placement of 20,000,000 units at a price of CAD 0.05 per unit for the gross proceeds of CAD 1,000,000 on May 14, 2024. Each unit will be comprised of one common share of the company and one common share purchase warrant. Each Warrant will entitle the holder thereof to acquire one common share at an exercise price of CAD 0.07 per warrant share at any time for a period of thirty-six (36) months following the closing of the offering.

Completion of the offering is subject to certain conditions including, but not limited to, the receipt of all necessary approvals, including the approval of the TSX Venture Exchange and applicable securities regulatory authorities. The transaction is expected to close on or about June 20, 2024 or such other date or dates that that the company may determine.