Solar Alliance provides update on Canadian solar acquisition, extends exclusivity period as due diligence continues

TORONTO and KNOXVILLE, Tenn., July 20, 2023 (GLOBE NEWSWIRE) -- Solar Alliance Energy Inc. (‘Solar Alliance’ or the ‘Company’) (TSX-V: SOLR), a leading solar energy solutions provider focused on the commercial and industrial solar sector, is pleased to provide an update on the Letter of Intent (“LOI”) the Company entered into on May 16, 2023 to acquire a growing, profitable Canadian solar company (the “Target”) in a predominantly share-based transaction (the “Transaction”). The Target is a Western Canadian leader in solar for commercial and utility customers, with more than 33 MW of commercial and utility solar projects installed.

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