Solar Alliance Energy (TSE:SOLR) has released an update.
Solar Alliance Energy Inc. has completed two debt settlements by issuing shares to directors and an insider, Tom Anderson, to resolve accrued liabilities and loans, aiming to conserve cash for working capital. The transactions, which are subject to TSX Venture Exchange approval, have been treated as related party transactions but fall within exemption thresholds, thereby not requiring formal valuation or minority shareholder approval.
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