Stria Announces Private Placement
July 7, 2017
For Immediate Release
TSX-Venture: SRA
STRIA ANNOUNCES PRIVATE PLACEMENT
NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR
DISSEMINATION IN THE UNITED STATES
OTTAWA – July 7, 2017 -- Stria Lithium Inc. (TSX VENTURE:SRA) ("Stria" or
the "Company") announces that it is effecting a private placement of a minimum of 5 million
units ($200,000) and a maximum of 12.5 million units ($500,000) at a price of $0.04 per unit.
Each of the units will be comprised of one common share and one common share purchase
warrant; each warrant will entitle its holder to acquire one additional common share of Stria
at a price of $0.05 per share for a period of 36 months from the closing date.
The units will be offered to Stria shareholders (the “Eligible Stria Shareholder s”) of record
as of the close of business on July 6, 2017 (the “Record Date”) pursuant to the “Existing
Security Holders” exemption of OSC Rule 45 -501 - Ontario Prospectus and Registration
Exemptions, and similar prospectus exemptions in other provinces of Canada (the “Existing
Shareholder Exemption”) , as well as to “accredited investors” in some or all of the provinces
of Canada and in other jurisdictions, if any, determined by Stria. Subscriptions by
shareholders are subject to a number of conditions, i ncluding a limit of $15,000 unless the
shareholder has received advice regarding the suitability of an investment in the units from
a registered investment dealer. The Company expects to close on at least the minimum
Offering on or before July 19, 2017, wh ich remains subject to regulatory approval. Any
Eligible Stria Shareholder who wishes to participate in the Offering is asked to please contact
Judith Mazvihwa -MacLean, CFO of the Company, at (613) 702 -0789 or by email to:
[email protected] in order to receive subscription documentation and instructions.
The Offering will remain open to existing shareholders until July 14, 2017. Orders will be
processed by the Company on a first come, first served basis such that it is possible that a
subscription rec eived from a shareholder may not be accepted by the Company if the
Offering is over subscribed. Any person who becomes a shareholder of Stria after the Record
Date shall not be entitled to participate in the Offering under the Existing Shareholder
Exemption.
In connection with the private placement, Stria may pay a cash commission to various
securities dealers in an amount equal to 7% of the proceeds from the sale of units through
such dealers. Stria may also issue non -transferable warrants to such dealers in an amount
equal to 7% of the number of units sold through them. Such warrants will entitle the holder
to purchase one common share of the Company at a price of $0.05 for a period of 36 months.
Over the next six month period, the Company shall use the gross proceeds of the Offering as
follows: (i) in the event of the minimum Offering, the Company will use the proceeds for
general corporate purposes ($66,000), which includes the further development of its lithium
extraction process, to pay the finder’s f ee under the Offering (up to $14,000) and to reduce
it current liabilities ($120,000); (ii) in the event of the maximum Offering, the Company will
use the proceeds for general corporate purposes ($120,000), which includes the further
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development of its lit hium extraction process, to conduct an exploration program on its
Pontax spodumene lithium property ($225,000), to pay the finder’s fee under the Offering
(up to $35,000) and to reduce it current liabilities ($120,000). Stria is not aware of any
“material fact” or “material change”, as such terms are defined under applicable securities
legislation, related to the Company or its activities that has not been generally disclosed.
Finally, the Company announces that Dr. Iain Todd has resigned as President and C hief
Operating Officer, to pursue another career opportunity. Stria wishes to thank Dr. Todd for
his services and wishes him the best of luck in his future endeavors.
About Stria Lithium Inc.
Stria is a Canadian junior mining exploration company with an ex panding technology focus
and is the sole owner of the Pontax spodumene lithium property in Northern Quebec. Stria's
mission is to be a reliable, profitable global source for both lithium metal and lithium
compound products and process technologies for producing value added lithium products.
Stria's expanded business focus is on the application of in-house developed technologies and
processes that lead to the production and milling of lithium metal and lithium metal foil for
advanced lithium batteries.
From the production of lithium metal also comes the value added production of: lithium
hydroxide; lithium carbonate; lithium fluoride; and lithium chloride.
Lithium is a critical metal in the universal fight against global warming. It is a core
component of Lit hium-Ion batteries used for powering electric vehicles and for industrial
scale energy storage.
Stria is part of the 2GL Platform green energy technology strategy alliance with Grafoid Inc.,
Focus Graphite Inc. and Braille Battery 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.
Contact:
Stria Lithium Inc.
Gary Economo, President, CEO & COO
613 241-4040
www.strialithium.com