Stria Lithium Inc. Provides Update on Private Placement
Stria Lithium Inc. Provides Update on Private Placement
OTTAWA, January 14, 2019 – Stria Lithium Inc. (TSX-V:SRA) (“Stria” or the “Company”) is
pleased to announce it has secured an extension from the TSX Venture Exchange to complete the
Company’s previously announced equity financing by February 14, 2019. The Company intends
to raise an additional $500,000 as part of the Offering (defined below).
The Company closed a second tranche of its non-brokered private placement (the “Offering”) for
gross proceeds of $350,000 (the “Second Tranche”). As part of the Second Tranche the Company
issued 7,000,000 units (the “Units”) at a price of $0.05 per Unit. Each Unit is comprised of one
(1) flow-through common share and one common sha re purchase warrant (a " Warrant"). Each
Warrant entitles its holder to purchase one (1) common share at a price of $0.055 per common
share until December 27, 2020.
In connection with the closing of the Second Tranche of the Offering, the Company paid a cas h
finder’s fee totaling $14,000 and issued 280,000 warrants (the “Finder Warrants”). Each Finder
Warrant entitles the finder to purchase one (1) common share at a price of $0.0 55 per common
share until December 27, 2020.
The securities issued in connection with the closing of the Second Tranche are subject to a four -
month hold period expiring on April 27, 2019.
An insider of the Company participated in the first tranche of the Offering and subscribed for an
aggregate of 3,500,000 Units repre senting an aggr egate amount of $175,000. Participation of
insiders of the Company in the Offering constitutes a "related party transaction" as defined under
Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions
("MI 61 -101"). The Offering is exempt from the formal valuation and minority shareholder
approval requirements of MI 61-101 as neither the fair market value of securities being issued to
insiders nor the consideration being paid by insiders will exceed 25% of the Company's market
capitalization. The Company did not file a material change report 21 days prior to the closing of
the Offering as the details of the participation of insiders of the Company had not been confirmed
at that time.
The Offering is subject to the final approval of the TSX Venture Exchange.
About Stria Lithium
Stria Lithium is a Canadian junior mining exploration company with an expanding technology
focus and is the sole owner of the Pontax spodumene lithium property in Northern Québec. 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 technologie s 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
Lithium-Ion batteries used for powering electric vehicles and for industrial scale energy storage.
For more information about Stria Lithium, please visit www.strialithium.com.
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 adequacy or accuracy of this
release.
Contact:
Stria Lithium Inc.
Mr. Gary Economo
Chief Executive Officer
+1-613-241-4040
www.strialithium.com