Solar Alliance Announces Grant and Extension of Stock Options
06 August 2022 - 7:44AM
Solar Alliance Energy Inc. (‘Solar Alliance’ or the
‘Company’) (TSX-V: SOLR, OTCQB: SAENF) announces that the
board of directors of the Company (the “
Board”)
today, granted incentive stock options in accordance with the
Company’s stock option plan to certain of its directors, officers
and employees.
Options to purchase 2,425,000 common shares of
the Company have been granted to certain directors and officers of
the Company at an exercise price of $.09 per share. These options
vest quarterly over a period of one (1) year, with the first 25% of
the options vesting on November 5, 2022. The options expire on
November 5, 2027. The stock options and any common shares of the
Company issuable upon exercise of the stock options will be subject
to a statutory hold period lasting four months and one day
following the grant date.
The Company also announces that the Board has
approved an extension to the expiry date of an aggregate of
1,300,000 stock options (the "Old Options") held
by certain non-executive employees of the Company. 1,000,000 Old
Options were granted on December 22, 2017, and an aggregate of
300,000 Old Options were granted on January 26, 2018. The original
expiry date was five (5) years from the grant date for each of the
Old Options. The expiry date for the Old Options will be extended
two (2) years such that the amended expiry date will be the date
that is seven (7) years from the original grant date (the
“Amendment”). The Old Options each have an
exercise price of CAD$0.08 per Old Option and the exercise price of
the Old Options will not be amended. The Old Options and any common
shares of the Company issuable upon exercise of the Old Options
will be subject to a statutory hold period lasting four months and
one day following the date hereof. The Amendment is subject to TSX
Venture Exchange approval.
Myke Clark, CEO
For more information: |
Investor RelationsMyke Clark,
CEO416-848-7744mclark@solaralliance.com |
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 Tennessee, Kentucky, North/South Carolina and
Illinois and has an expanding pipeline of solar projects. Since it
was founded in 2003, the Company has developed $1 billion of
renewable energy 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."
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