Solar Alliance Energy, Inc. Announces Appointment of New CFO
TORONTO and KNOXVILLE, Tenn., May 28, 2025 (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 appointment of Mr. Jawad Chugtai of Global BPO Service Inc, as Chief Financial Officer of the Company, effective immediately.
Mr. Chugtai is an Associate Member of the Institute of Chartered Accountants England and Wales (ICAEW) and a fellow member of the Association of Chartered Certified Accountants (ACCA). He has over 10 years of experience in Finance, Audit, Risk Management and Internal Controls.
Mr. Chugtai has supported the Company in connection with the audit of the Company's financial statements for the year ended December 31, 2024 (the 'Financial Statements'). As previously announced, the Financial Statements and related management discussion and analysis ('MD&A') were filed past the applicable filing deadline and a cease trade order was imposed on the Company, which was subsequently lifted on May 22, 2025 following the filing the Financial Statements and MD&A. The Company is working with the TSX Venture Exchange to resume trading in its Common Shares and expects trading to resume shortly. The Company will provide an update once a trading resumption date is known.
The former Chief Financial Officer of the Company, Ms. Christina Wu, has resigned and the Company thanks her for her services.
Brian Timmons, CEO
For more information:
Investor RelationsBrian Timmons, CEO1.865 888 9925btimmons@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 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.The words 'would', 'will', 'expected' and 'estimated' or other similar words and phrases are intended to identify forward-looking information. Forward-looking information in this news release includes, but is not limited to, statements with respect to the resumption of trading of the Company's common shares. 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: the ability to complete the Company's projects on schedule or at all, 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 rate of the US solar industry; the ability to convert the backlog of projects into revenue; the expected timing of the construction and completion of the 1500 kW Kentucky solar projects; the targeting of larger customers; the ability to predict and counteract the effects, should they re-emerge, of COVID-19 on the business of the Company, including but not limited to the effects of COVID-19, on the construction sector, capital market conditions, restriction on labour and international travel and supply chains; potential corporate growth opportunities and the ability to execute on the key objectives in 2025. Consequently, actual results may vary materially from those described in the forward-looking statements.
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