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Solar Alliance extends closing deadline of private placement

Solar Alliance Energy Inc. extended the deadline to close its non-brokered private placement offering of up to 6 million units to Oct. 20.

The company is offering each unit at 5 Canadian cents for gross proceeds of up to C$300,000, according to a Sept. 20 news release.

Each unit will consist of one common share of the company and one share purchase warrant. Each warrant will entitle the holder to purchase one Solar Alliance share at 7 Canadian cents apiece for a period of one year from the date of issue.

Solar Alliance has already issued C$120,250 worth of units and expects to raise the remaining C$179,750 prior to the new closing deadline.