SOURCE: Solar Alliance Energy Inc.

Solar Alliance Energy Inc.

February 14, 2017 07:00 ET

Solar Alliance Achieves Profitability for the Second Straight Month

VANCOUVER, BC--(Marketwired - February 14, 2017) - Solar Alliance Energy, Inc. ('Solar Alliance') or (the 'Company') (TSX VENTURE: SAN) (OTCQB: SAENF) is pleased to provide preliminary results for the Company's California solar operations for the month ended January 31, 2017. The Company expects to record a profit of approximately $26,211 for the month of January 2017. This follows a profitable month of December 2016 where the company expects to record a profit of approximately $54,226. The Company will record a loss for Q4 2016 and is not providing guidance regarding financial results for the full Q1 2017 at this time.

"Solar Alliance has continued its strong results for the second straight month," said Chairman and CEO Jason Bak. "We are providing these preliminary results in an effort to give the market greater visibility into our operations during this critical inflection point during Solar Alliance's growth. We have experienced two straight profitable months in our California operations as a result of stronger sales margins and increased installation throughput. We expect those improvements to set the stage for an exciting 2017."

The following unaudited results for the Solar Alliance U.S. operations are subject to the completion of Solar Alliance's quarterly closing and review procedures, as well as the regular annual audit by the company's independent registered public accounting firm, and are therefore subject to change. The results noted below for the month of January 2017 are in U.S. dollars.

Selected Item  Unaudited Dec. 2016 (US$)  Unaudited Jan. 2017 (US$)
Revenue  $449,009.35  $498,002.96
Cost of Goods Sold  $246,093.46  $314,916.15
Gross Margin  $202,915.89  $183,086.81
Net Income  $54,225.62  $26,210.50
Key Ratios      
Gross Margin %  45%  37%
Net income %  13%  5%

The Company continues to make positive progress on the transaction, announced on January 17, 2017 to sell an interest in various wind assets for $1.35 million to Concord Green Energy. Solar Alliance expects to provide further information regarding the plan of arrangement when a definitive Transaction Agreement is reached with Concord in the coming weeks.

Jason Bak
Chairman and CEO

About Solar Alliance Energy Inc. (
Solar Alliance is a sales, marketing and development company focused on residential, commercial and industrial solar installations. Since we were founded in 2003, we have developed wind and solar projects that provide enough electricity to power 150,000 homes. Solar Alliance is committed to an exceptional customer experience, effective marketing campaigns and superior lead generation in order to drive sales and generate value for shareholders. Our passion is improving life through ingenuity, simplicity and freedom of choice. We make solar simple and our goal is to install solar on every available rooftop in America.

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 and political competitive developments and technological or operational difficulties. 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."

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