Deal sells 17,142,857 units of a share, a warrant at C$0.07 per unit
By Devika Patel
Knoxville, Tenn., July 18 – Solar Alliance Energy, Inc. said it raised C$127,000 in the second and final tranche of a C$1.2 million non-brokered private placement of units. The deal priced on March 15 and raised C$579,583 on May 2.
The company is selling 17,142,857 units of one common share and one warrant at C$0.07 per unit. It sold 8,279,757 units in the first tranche and 1,814,285 units to its chief financial officer Eric Knutzen in the second tranche.
The warrants are each exercisable at C$0.10 for two years. The strike price is identical to the March 14 closing share price.
Proceeds will be used for market expansion, marketing and general corporate purposes.
The Vancouver, B.C., company develops renewable energy projects.
| Issuer: | Solar Alliance Energy, Inc.
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| Issue: | Units of one common share and one warrant
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| Amount: | C$1.2 million
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| Units: | 17,142,857
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| Price: | C$0.07
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| Warrants: | One warrant per unit
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| Warrant expiration: | Two years
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| Warrant strike price: | C$0.10
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| Agent: | Non-brokered
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| Investor: | Eric Knutzen (for C$127,000)
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| Pricing date: | March 15
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| Settlement date: | May 2 (for C$579,583), July 18 (for C$127,000)
|
| Stock symbol: | TSX Venture: SAN
|
| Stock price: | C$0.10 at close March 14
|
| Market capitalization: | C$3.89 million
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