July 10 (Reuters) - Solar Alliance Energy Inc SAN.V :
* Solar Alliance Energy Inc - company anticipates this acquisition will materially increase revenues and net income at Solar Alliance
* Solar Alliance Energy Inc - further details regarding acquisition will be announced when a definitive transaction agreement is reached
* Solar Alliance Energy Inc - under terms of LoI, purchase price for 100% of Aries Solar, Llc is a contingent payment of us $1 mln
* Solar Alliance Energy - co to allocate 20% of net income from Aries project pipeline to Thompson Machinery until contingent payment is fulfilled Source text for Eikon: ID:nCCN6gKV6a Further company coverage: SAN.V