<SEC-DOCUMENT>0001493152-24-032506.txt : 20240815
<SEC-HEADER>0001493152-24-032506.hdr.sgml : 20240815
<ACCEPTANCE-DATETIME>20240815080025
ACCESSION NUMBER:		0001493152-24-032506
CONFORMED SUBMISSION TYPE:	6-K
PUBLIC DOCUMENT COUNT:		3
CONFORMED PERIOD OF REPORT:	20240815
FILED AS OF DATE:		20240815
DATE AS OF CHANGE:		20240815

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			SolarBank Corp
		CENTRAL INDEX KEY:			0002011053
		STANDARD INDUSTRIAL CLASSIFICATION:	ELECTRIC & OTHER SERVICES COMBINED [4931]
		ORGANIZATION NAME:           	01 Energy & Transportation
		IRS NUMBER:				000000000
		STATE OF INCORPORATION:			A6
		FISCAL YEAR END:			0630

	FILING VALUES:
		FORM TYPE:		6-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-41976
		FILM NUMBER:		241210686

	BUSINESS ADDRESS:	
		STREET 1:		505 CONSUMERS ROAD
		STREET 2:		SUITE 803
		CITY:			TORONTO
		STATE:			A6
		ZIP:			M2J 4V8
		BUSINESS PHONE:		1-416-494-9559

	MAIL ADDRESS:	
		STREET 1:		505 CONSUMERS ROAD
		STREET 2:		SUITE 803
		CITY:			TORONTO
		STATE:			A6
		ZIP:			M2J 4V8
</SEC-HEADER>
<DOCUMENT>
<TYPE>6-K
<SEQUENCE>1
<FILENAME>form6-k.htm
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 18pt"><B>UNITED
STATES</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 18pt"><B>SECURITIES
AND EXCHANGE COMMISSION</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 12pt"><B>Washington,
D.C. 20549</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 18pt"><B>Form
6-K</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>REPORT
OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13a-16 OR 15d-16 UNDER THE</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>SECURITIES
EXCHANGE ACT OF 1934</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">For
the month of August, 2024.</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Commission
File Number 001-41976</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 18pt; text-transform: uppercase"><B><U>Solarbank
Corporation</U></B></FONT><U><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><BR>
</FONT></U><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(Translation of registrant&rsquo;s name into English)</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>505
Consumers Rd., Suite 803<BR>
<U>Toronto, Ontario, M2J 4Z2 Canada</U></B><BR>
(Address of principal executive office)</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Indicate
by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.<BR>
Form 20-F &#9744; Form 40-F &#9746;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Indicate
by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1) &#9744;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Indicate
by check mark if the registrant is &ldquo;submitting&rdquo; the Form 6-K in paper as permitted by Regulation S-T &ldquo;Rule&rdquo; 101(b)(7)
&#9744;</FONT></P>




<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>SIGNATURES</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Pursuant
to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by
the undersigned, thereunto duly authorized.</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0.25in"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
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  <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">Date August 15, 2024</FONT></TD>
  <TD COLSPAN="2" STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; text-transform: uppercase"><B>Solarbank
  Corporation</B></FONT></TD></TR>
<TR STYLE="font-family: Times New Roman, Times, Serif; vertical-align: top; text-align: left">
  <TD STYLE="font-family: Times New Roman, Times, Serif; width: 50%"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
  <TD STYLE="font-family: Times New Roman, Times, Serif; width: 3%"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
  <TD STYLE="font-family: Times New Roman, Times, Serif; width: 47%"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="font-family: Times New Roman, Times, Serif; vertical-align: top; text-align: left">
  <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
  <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">By:</FONT></TD>
  <TD STYLE="font-family: Times New Roman, Times, Serif; border-bottom: Black 1.5pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif"><I>/s/
  Sam Sun</I></FONT></TD></TR>
<TR STYLE="font-family: Times New Roman, Times, Serif; vertical-align: top; text-align: left">
  <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
  <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
  <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">Sam Sun</FONT></TD></TR>
<TR STYLE="font-family: Times New Roman, Times, Serif; vertical-align: top; text-align: left">
  <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
  <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
  <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">Chief Financial Officer
  &amp; Corporate Secretary</FONT></TD></TR>
</TABLE>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; text-transform: uppercase"><B>Exhibit
Index</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: center"></P>

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  <TD STYLE="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; width: 0.1in"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>&nbsp;</B></FONT></TD>
  <TD STYLE="font-family: Times New Roman, Times, Serif; border-bottom: Black 1.5pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; text-transform: uppercase"><B>Description
  of Exhibit</B></FONT></TD></TR>
<TR STYLE="font-family: Times New Roman, Times, Serif; vertical-align: top; text-align: left">
  <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
  <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
  <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="font-family: Times New Roman, Times, Serif; vertical-align: top; text-align: left">
  <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">99.1</FONT></TD>
  <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
  <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif"><A HREF="ex99-1.htm" STYLE="-sec-extract: exhibit">Press
  Release dated August 15, 2024</A></FONT></TD></TR>
</TABLE>

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<TYPE>EX-99.1
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: right"><B>Exhibit 99.1</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center"><IMG SRC="ex99-1_001.jpg" ALT="" STYLE="height: 171px; width: 524px"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>7.00 MW Solar Project Under Development by<BR>
SolarBank in Clay, New York</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt">&#9679; <B>Expected to operate
as a community solar site, selling credits to subscribers.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt">&#9679; <B>Over 800 homes expected to be provided green energy once operational.</B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</P>

<P STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><B>&#9679; Eligible
to participate in the NYSUN program to receive NYSERDA incentives.&nbsp;</B></P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>Toronto, Ontario, August 15, 2024 &mdash; SolarBank
Corporation (NASDAQ: SUUN; Cboe CA: SUNN, FSE: GY2) (&ldquo;SolarBank&rdquo; or the &ldquo;Company&rdquo;) </B>announces that it intends
to develop a 7 MW DC ground-mount solar power project known as the Oak Orchard project (the &ldquo;<B>Project</B>&rdquo;) on a 23 acre
site located in Clay, New York. The Project would be constructed on a closed landfill owned by the Town of Clay, repurposing land to produce
green energy. The Project is expected to be eligible for incentives under the New York State Energy Research and Development Authority
(&ldquo;<B>NYSERDA</B>&rdquo;) NY-Sun Program.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Company has secured a lease over the Project site
and has applied for interconnection approval for the Project. Assuming the successful receipt of interconnection approval, the Company
will work to complete the permitting process and secure the necessary financing for the construction of the Project.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Once completed, the Project will be operated as a
community solar project. Community solar is a group of solar panels with access to the local electricity grid. Once the panels are turned
on and generating electricity, clean energy from the site feeds into the local power grid. Depending on the size and number of panels
the project has, dozens or even hundreds of renters and homeowners can save money from the electricity that is generated by the project.
By subscribing to a project, a homeowner earns credits on their electric bill every month from their portion of the solar that&rsquo;s
generated by the project, accessing the benefits of solar without installing panels on their home.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">There are several risks associated with the development
of the Project. The development of any project is subject to receipt of interconnection approval, required permits, the continued availability
of third-party financing arrangements for the Company and the risks associated with the construction of a solar power project. In addition,
governments may revise, reduce or eliminate incentives and policy support schemes for solar power, which could result in future projects
no longer being economic. Please refer to &ldquo;Forward-Looking Statements&rdquo; for additional discussion of the assumptions and risk
factors associated with the statements in this press release.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>About SolarBank Corporation</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">SolarBank Corporation is an independent renewable
and clean energy project developer and owner focusing on distributed and community solar projects in Canada and the USA. The Company
develops solar projects that sell electricity to utilities, commercial, industrial, municipal and residential off-takers. The Company
maximizes returns via a diverse portfolio of projects across multiple leading solar markets including projects with utilities, host off-takers,
community solar, and virtual net metering projects. The Company has a potential development pipeline of over one gigawatt and has developed
renewable and clean energy projects with a combined capacity of over 70 megawatts built. To learn more about SolarBank, please visit
<U>www.solarbankcorp.com</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: left">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0">For further information, please contact:&lrm;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">SolarBank Corporation</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Tracy Zheng</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Email: <U>tracy.zheng@solarbankcorp.com</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Phone: 416.494.9559</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>FORWARD-LOOKING STATEMENTS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">This news release contains forward-looking statements
and forward-looking information &lrm;within the meaning of Canadian securities legislation (collectively, &ldquo;forward-looking &lrm;statements&rdquo;)
that relate to the Company&rsquo;s current expectations and views of future events. &lrm;Any statements that express, or involve discussions
as to, expectations, beliefs, plans, &lrm;objectives, assumptions or future events or performance (often, but not always, through the
&lrm;use of words or phrases such as &ldquo;will likely result&rdquo;, &ldquo;are expected to&rdquo;, &ldquo;expects&rdquo;, &ldquo;will
&lrm;continue&rdquo;, &ldquo;is anticipated&rdquo;, &ldquo;anticipates&rdquo;, &ldquo;believes&rdquo;, &ldquo;estimated&rdquo;, &ldquo;intends&rdquo;,
&ldquo;plans&rdquo;, &ldquo;forecast&rdquo;, &lrm;&lrm;&rdquo;projection&rdquo;, &ldquo;strategy&rdquo;, &ldquo;objective&rdquo; and &ldquo;outlook&rdquo;)
are not historical facts and may be &lrm;forward-looking statements and may involve estimates, assumptions and uncertainties &lrm;which
could cause actual results or outcomes to differ materially from those expressed in &lrm;such forward-looking statements. In particular
and without limitation, this news release &lrm;contains forward-looking statements pertaining to the Company&rsquo;s expectations regarding
its industry trends and overall market growth; the Company&rsquo;s growth strategies the expected energy production from the solar power
project mentioned in this press release; the number of homes expected to be powered; the reduction of carbon emissions; the receipt permits
and financing to be able to construct the Project; and the receipt of incentives for the Project. No assurance &lrm;can be given that
these expectations will prove to be correct and such forward-looking &lrm;statements included in this news release should not be unduly
relied upon. These &lrm;statements speak only as of the date of this news release.&lrm;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Forward-looking statements are based on certain assumptions
and analyses made by the Company in light of the experience and perception of historical trends, current conditions and expected future
developments and other factors it believes are appropriate, and are subject to risks and uncertainties. In making the forward looking
statements included in this news release, the Company has made various material assumptions, including but not limited to: obtaining the
necessary regulatory approvals; that regulatory requirements will be maintained; general business and economic conditions; the Company&rsquo;s
ability to successfully execute its plans and intentions; the availability of financing on reasonable terms; the Company&rsquo;s ability
to attract and retain skilled staff; market competition; the products and services offered by the Company&rsquo;s competitors; that the
Company&rsquo;s current good relationships with its service providers and other third parties will be maintained; and government subsidies
and funding for renewable energy will continue as currently contemplated. Although the Company believes that the assumptions underlying
these statements are reasonable, they may prove to be incorrect, and the Company cannot assure that actual results will be consistent
with these forward-looking statements. Given these risks, uncertainties and assumptions, investors should not place undue reliance on
these forward-looking statements.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: left">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></P>

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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 0pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Whether actual results, performance or achievements
will conform to the Company&rsquo;s expectations and predictions is subject to a number of known and unknown risks, uncertainties, assumptions
and other factors, including those listed under <I>&ldquo;Forward-&lrm;Looking Statements&rdquo; and &ldquo;Risk &lrm;Factors&rdquo; in
the Company&rsquo;s most recently completed Annual Information Form, </I>and other public filings of the Company, which include: the Company
may be adversely affected by volatile solar power market and industry conditions; the execution of the Company&rsquo;s growth strategy
depends upon the continued availability of third-party financing arrangements; the Company&rsquo;s future success depends partly on its
ability to expand the pipeline of its energy business in several key markets; governments may revise, reduce or eliminate incentives and
policy support schemes for solar and battery storage power; general global economic conditions may have an adverse impact on our operating
performance and results of operations; the Company&rsquo;s project development and construction activities may not be successful; developing
and operating solar projects exposes the Company to various risks; the Company faces a number of risks involving Power Purchase Agreements
(&ldquo;PPAs&rdquo;) and project-level financing arrangements; any changes to the laws, regulations and policies that the Company is subject
to may present technical, regulatory and economic barriers to the purchase and use of solar power; the markets in which the Company competes
are highly competitive and evolving quickly; an anti-circumvention investigation could adversely affect the Company by potentially raising
the prices of key supplies for the construction of solar power projects; foreign exchange rate fluctuations; a change in the Company&rsquo;s
effective tax rate can have a significant adverse impact on its business; seasonal variations in demand linked to construction cycles
and weather conditions may influence the Company&rsquo;s results of operations; the Company may be unable to generate sufficient cash
flows or have access to external financing; the Company may incur substantial additional indebtedness in the future; the Company is subject
to risks from supply chain issues; risks related to inflation; unexpected warranty expenses that may not be adequately covered by the
Company&rsquo;s insurance policies; if the Company is unable to attract and retain key personnel, it may not be able to compete effectively
in the renewable energy market; there are a limited number of purchasers of utility-scale quantities of electricity; compliance with environmental
laws and regulations can be expensive; corporate responsibility may adversely impose additional costs; the future impact of any resurgence
of COVID-19 on the Company is unknown at this time; the Company has limited insurance coverage; the Company will be reliant on information
technology systems and may be subject to damaging cyberattacks; the Company may become subject to litigation; there is no guarantee on
how the Company will use its available funds; the Company will continue to sell securities for cash to fund operations, capital expansion,
mergers and acquisitions that will dilute the current shareholders; and future dilution as a result of financings.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Company undertakes no obligation to update or
revise any &lrm;forward-looking statements, whether as a result of new information, future events or &lrm;otherwise, except as may be
required by law. New factors emerge from time to time, and it &lrm;is not possible for the Company to predict all of them, or assess the
impact of each such &lrm;factor or the extent to which any factor, or combination of factors, may cause results to &lrm;differ materially
from those contained in any forward-looking statement. Any forward-&lrm;looking statements contained in this news release are expressly
qualified in their entirety by &lrm;this cautionary statement.&lrm;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: left"></P>

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    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: left"><B>&nbsp;</B></P>

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end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
