TORONTO and KNOXVILLE, Tenn., April 29, 2026 (GLOBE NEWSWIRE) -- Solar Alliance Energy Inc. announces that it is unable to file its audited annual financial statements for the fiscal year ended December 31st 2025, together with the related management's discussion and analysis and CEO and CFO certifications, because the audited financial statements have not been prepared. Accordingly, the Company expects that a cease trade order ("CTO") will be issued on Friday, May 1, 2026, whereupon trading on the TSXV will be suspended and shareholders will be prohibited from trading in the Company's securities.
The company's ability to effect the audit has been constrained by the Company's very tight liquidity which over the past number of quarters has been primarily focused on project operations. Meanwhile the Company has been, as previously announced, intensively targeting larger scale project opportunities.
The Company is working diligently to undertake the audit of the annual financial statements and effect the related filings as soon as possible, within a reasonable timescale, so as to enable the CTO to be revoked and trading in the Company's stock to resume. The Company will issue further updates by news release as appropriate and intends to file the outstanding documents promptly once they are available.
The Company confirms that, other than the matters disclosed in this news release, there is no material information concerning the affairs of the Company that has not been generally disclosed.
The Company's obligation to disclose material changes continues even while the CTO is in effect, and the Company intends to comply with all applicable default reporting requirements under National Policy 12-203, including the issuance of default status reports if required, until the default has been remedied and any applicable CTO has been revoked.
Forward-Looking Information
This news release contains forward-looking information within the meaning of applicable Canadian securities laws, including statements regarding the anticipated issuance of a CTO, the timing of completion and filing of the outstanding documents, and the Company's efforts to remedy its disclosure default. Forward-looking information is based on current expectations and assumptions and is subject to risks and uncertainties that may cause actual results to differ materially from those expressed or implied.
There can be no assurance that the Company will complete the preparation and filing of the audited annual financial statements and related documents within the anticipated timeframe, or at all, or that any cease trade order will be revoked on the timeline currently expected.
For more information:
Investor Relations
Brian Timmons, CEO
btimmons@solaralliance.com
865-888-5427
