VANCOUVER, BC and KNOXVILLE, TN / ACCESSWIRE / January 31, 2020 / Solar Alliance Energy Inc. ("Solar Alliance" or the "Company") (TSXV:SOLR)(OTC:SAENF) is pleased to announce the results of its Annual and Special General Meeting today. All resolutions were approved by shareholders, including:
(i) the shareholders voted in favour of appointing the nominees set forth in the Company's information circular of Jason Bak, Ken Stadlin, Anton Shihoff, Robert Miller and Michael Clark to serve as Directors of the Company for the ensuing year and to increase the number of directors to five;
(ii) Morgan & Company LLP was reappointed as auditors of the Company; and,
(iii) the Company's rolling 10% stock option plan was approved.
"I would like to thank shareholders for their continued support as we work to create a nationally-recognized brand that delivers benefits to the environment, customers and shareholders," said CEO Myke Clark. "The Solar Alliance team made significant progress in 2019 and the prospects for 2020 are exciting. We have reduced overhead at the corporate level to ensure resources are appropriately allocated to delivering new business and moving projects through the pipeline. We have also increased our focus on developing strategic partnerships that allow for expansion in a cost-effective manner, increasing profit margins on individual projects and driving towards overall company profitability."
The Company also announces that it has received TSX Venture Exchange approval to extend the expiry dates of three groups of share purchase warrants ("Warrants"): Group one is 2,783,333 outstanding Warrants with an original expiry date of February 28, 2020 that has been extended to February 28, 2022. Group two is 1,070,000 outstanding Warrants with an original expiry date of March 14, 2020 that has been extended to March 14, 2022. The third group is 11,121,265 outstanding Warrants with an expiry date of April 8, 2020 that has been extended to April 8, 2022. The exercise price on the Warrants will not change from $0.05. The Company has received approval and has issued a total of 2,233,333 common shares, at a price of $0.05 per share, to two companies controlled by officers of the Company as settlement of an aggregate of $111,666.65.
Myke Clark, CEO
For more information:
Solar Alliance Sales
Myke Clark, CEO
About Solar Alliance Energy Inc. (www.solaralliance.com)
Solar Alliance is an energy solutions provider focused on residential, commercial and industrial solar installations. The Company operates in California, Tennessee, North/South Carolina and Kentucky and has an expanding pipeline of solar projects. Since it was founded in 2003, the Company has developed $1 billion of wind and solar projects that provide enough electricity to power 150,000 homes. Our passion is improving life through ingenuity, simplicity and freedom of choice. Solar Alliance reduces or eliminates customers' vulnerability to rising energy costs, offers an environmentally-friendly source of electricity generation, and provides affordable, turnkey clean energy solutions.
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."
SOURCE: Solar Alliance Energy Inc.