Stria Lithium Inc. Receives TSX-V Approval to Extend the Expiry Date of Warrants
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RELEASE: IMMEDIATE
T
SX: SRA.V
Stria Lithium Inc. Receives TSX-V Approval to Extend the
Expiry Date of Warrants
Stria Lithium, Inc. (TSX.V: SRA)
Ottawa, ON, June 22, 2023 - Stria Lithium Inc. (TSX -V: SRA) (“ Stria” or the “ Company”)
announces today it has received approval from the TSX Venture Exchange (“TSX-V”) to extend
the date of 5,200,000 warrants all of which are exercisable at $0.50 per common shares (the
“Warrants”). The extension of the expiry date of the Warrants by an additional 24 months was
approved. The Warrants were issued as part of a private placement which closed on June 24,
2021, and accordingly the new expiry date for the Warrants is June 24, 2025. All other terms
of the Warrants remain unchanged.
A total of 740,000 Warrants are held by “related parties” to the Company. Therefore, the amendment
of the expiry date of the Warrants constitutes a “related party transaction” pursuant to Multilateral
Instrument 61-101 Protection of Minority Security Holders in Special Tran sactions (“MI 61-101”).
However, the exemption from formal valuation and minority approval requirement found at section
5.5 and 5.7 of MI 61-101 will be relied on as the fair market value of the Warrants does not exceed
25% of the market cap of the company.
About Stria Lithium
Stria Lithium (TSX-V: SRA) is an emerging resource exploration company developing Canadian lithium
reserves to meet legislated demand for electric vehicles and their rechargeable lithium-ion batteries.
Lithium is a rare metal and an indispensable component of rechargeable lithium-ion batteries, one of the safest
and most efficient energy storage technologies available today, used in everything from cellphones and power
tools to electric cars and industrial -scale energy storage for renewable power sources such as wind and solar
generation.
Stria’s Central Pontax Lithium Project covers 36 square kilometres, including 8 kilometres of strike along the
prospective Chambois Greenstone Belt. Stria’s Pontax II covers 55 square kilometres. The region, known as
the Canadian “Lithium Triangle,” is one of only a few known sources of lithium available for hard rock mining
in North America.
Stria’s Pontax property is situated close to an industrial powerline and a major paved highway, about 310 km
north of the North American rail network that leads to the industrial heartland.
As momentum builds for the green energy revolution and the shift to electric vehicles, governments in Canada
and the U.S. are aggressively supporting the North American lithium industry, presenting the industry and its
investors with a rare, if not unprecedented, opportunity for growth and prosperity well into the next decade
and beyond.
Cygnus Metals is committed to fully funding and managing the current two -stage exploration and drilling
program to a maximum of $10 million at Stria’s Pontax property, and will also pay Stria up to $6 million in
cash. In return, Cygnus may acquire up to a 70% interest in the property.
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Stria is committed to exceeding the industry’s environmental, social and governance standards. A critical part
of that commitment is forging meaningful, enduring and mutually beneficial relationships with the James Bay
Cree Nation (Eeyouch), and engaging openly and respectfully as neighbours and collaborators in this exciting
project that has the potential to create lasting jobs and prosperity for Eeyou Istchee and its people.
For more information about Stria Lithium and the Pontax Lithium project, please visit
https://strialithium.com
Follow us on:
• Twitter @StriaLithium
• Instagram @strialithium
• Facebook http://www.facebook.com/strialithium
• LinkedIn http://www.linkedin.com/company/stria-lithium/
For more information on Stria Lithium Inc., please contact:
Dean Hanisch
CEO Stria Lithium
+1(613) 612-6060
Investors Relations, Stria Lithium Inc.
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 accuracy or adequacy of this release.
Cautionary Note Regarding Forward-Looking Information
Except for statements of historical fact, this news release contains certain “forward -looking information”
within the meaning of applicable securities law. Forward -looking information is frequently cha racterized by
words such as “plan”, “expect”, “project”, “intend”, “believe”, “anticipate”, “estimate” and other similar
words, or statements that certain events or conditions “may” or “will” occur. Although we believe that the
expectations reflected in the forward-looking information are reasonable, there can be no assurance that such
expectations will prove to be correct. We cannot guarantee future results, performance or achievements.
Consequently, there is no representation that the actual results achieved will be the same, in whole or in part,
as those set out in the forward-looking information.
Forward-looking information is based on the opinions and estimates of management at the date the statements
are made and are subject to a variety of risks and uncertainties and other factors that could cause actual events
or results to differ materially from those anticipated in the forward-looking information. Please refer to the risk
factors disclosed under our profile on SEDAR at www.sedar.com. Readers are ca utioned that this list of risk
factors should not be construed as exhaustive.
The forward -looking information contained in this news release is expressly qualified by this cautionary
statement. We undertake no duty to update any of the forward -looking inf ormation to conform such
information to actual results or to changes in our expectations except as otherwise required by applicable
securities legislation. Readers are cautioned not to place undue reliance on forward-looking information.