Solar Alliance Announces Late Filing of Annual Financial Disclosure

TORONTO and KNOXVILLE, Tenn., May 07, 2025 (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 utility solar sectors, announces that the filing of its audited annual financial statements, management’s discussion and analysis, and related CEO and CFO certifications for the year ended December 31, 2024 (the “Required Filings”) as required under National Instrument 51-102 – Continuous Disclosure Obligations has been delayed beyond the filing deadline of April 30, 2025. As a result, Solar Alliance expects to be noted in default in due course and anticipates that trading of its common shares will be halted on the TSX Venture Exchange and a cease trade order will be issued by the applicable Canadian Securities Administrators.

The Company is working expeditiously with its auditor, Kreston GTA LLP, to complete the audit as soon as possible. Solar Alliance plans to remedy the default and file the Required Filings imminently and expects such filing to occur in any event, no later than May 15, 2025.

The Company confirms that there is no other material information concerning the affairs of the Company that has not been generally disclosed as of the date of this press release.  

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 ultimately 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 community customers.

Forward-Looking Statements

Certain statements in this news release are “forward-looking statements”, which reflect management’s expectations regarding the timing of completion of the Required Filings and the Company’s future business operations. All statements other than statements of historical fact contained in this news release are forward-looking statements. Such forward-looking statements involve risks and uncertainties, as they reflect management’s current beliefs and are based on information currently available to management. Actual results may differ materially from those anticipated in the statements made. Such risks include, without limitation: the Company’s inability to complete its Required Filings; the imposition of trading halts, cease trade orders and other regulatory penalties; and general risks affecting the industry and broader economic conditions. The forward-looking statements are expressly qualified in their entirety by this cautionary statement. The forward-looking statements are made as of the date of this news release and the Company assumes no obligation to update or revise them to reflect new events or circumstances except as expressly required by applicable securities law. Further information regarding the uncertainties and risks can be found in the disclosure documents filed by the Company with the securities regulatory authorities, available at www.sedarplus.ca.

Neither the 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 press release.