Solar Alliance Energy Inc. (TSXV:SOLR) announced a private placement of convertible loans for gross proceeds of CAD 2,000,000 on January 19, 2018. The loan carries a coupon of 12% per annum, with interest and principal payable on the maturity date. The loan is convertible into shares of the company at an exercise price of CAD 0.08 per share. The lender has the option to convert all or some of any outstanding principal or interest. Any securities issued under the proposed loan transaction will be subject to a four-month hold period from the date of the issue of any shares. The Loan and the loan agreement are subject to TSX Venture Exchange acceptance.