Solar Alliance shareholders approve all resolutions at Annual General Meeting

TORONTO and KNOXVILLE, Tenn., March 21, 2023 (GLOBE NEWSWIRE) -- Solar Alliance Energy Inc. (‘Solar Alliance’ or the ‘Company’) (TSX-V: SOLR, OTC: SAENF), a leading solar energy solutions provider focused on the commercial and utility solar sectors, is pleased to announce the results of its Annual and Special General Meeting today.

A total of 105,428,896 voted representing 38.34% of the issued and outstanding shares were voted in connection with the meeting. The Corporation is pleased to announce that all resolutions put forward to shareholders in the Corporation’s management information circular (“Circular”) dated January 30, 2023, were overwhelmingly approved, including:

1. the appointment of the nominees set forth in the Circular of Michael Clark, Ken Stadlin, Anton Shihoff, Robert Miller and Brian Timmons to serve as Directors of the Company for the ensuing year;
2. the appointment of KPMG LLP as auditor for the Company for the ensuing year, subject to finalization of the engagement of their services and to authorize the Directors to fix their remuneration; and,
3. renewal of the Company’s rolling 10% stock option plan (the “Plan”). Additionally, due to the implementation of Policy 4.4 – Security Based Compensation of the TSX Venture Exchange (the “Policy”), the Company has made amendments to the Plan (the “Amendments”) to conform the Plan to the Policy. The Amendments include: (i) enumerating certain defined terms in the Plan; (ii) clarifying limitations on grants under the Plan to persons that are insiders and investor relations service providers; and (iii) including a provision that disinterested shareholder approval must obtained for any extension of an option granted to an insider

“I would like to thank shareholders for their continued support. Our strategy to target larger revenue commercial and utility solar projects, combined with owning our own solar projects, has created the foundation for a growing, sustainable company that is well positioned to take advantage of the current global shift to renewable energy,” said CEO Myke Clark.

Myke Clark, CEO

For more information:

Investor Relations
Myke Clark, CEO
604-359-5178
mclark@solaralliance.com

About Solar Alliance Energy Inc. (www.solaralliance.com)
Solar Alliance is an energy solutions provider focused on the commercial, utility and community solar sectors. Our experienced team of solar professionals reduces or eliminates customers' vulnerability to rising energy costs, offers an environmentally friendly source of electricity generation, and provides affordable, turnkey clean energy solutions. Solar Alliance’s strategy is to build, own and operate our own solar assets while also generating stable revenue through the sale and installation of solar projects to commercial and utility customers. The technical and operational synergies from this combined business model supports sustained growth across the solar project value chain from design, engineering, installation, ownership and operations/maintenance.

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, legislative and political competitive developments, technological or operational difficulties, the ability to maintain revenue growth, the ability to execute on the Company’s strategies, the ability to complete the Company’s current and backlog of solar projects, the ability to grow the Company’s market share, the high growth US solar industry, the ability to convert the backlog of projects into revenue, the targeting of larger customers, potential corporate growth opportunities and the ability to execute on the key objectives in 2023. 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."