Stria Provides Update
Stria Provides Update
OTTAWA, ON – December 15, 2021 – Stria Lithium Inc. (" Stria" or the " Company") (TSX-
V:SRA), is pleased to provide the market with the following update following the termination of
its Change of Business Transaction previously announced December 8, 2021.
Shares for Debt Transaction
On March 26, 2021, the Company received a $750,000 uns ecured loan from JJJY Holdings Inc.
(the "Lender"), for general operations (the "Loan"). The Lender is a non-arm’s length party from
Stria. The Loan is non-interest bearing, incl udes a lender fee in the amount of $125,000 and is
payable on maturity or earlier with no early payment penalty. The Loan’s maturity date is March
26, 2022. On April 7, 2021, the Lender exercised 970,000 warrants at $0.05 per warrant for total
proceeds to the Company of $48,500. The warrants had been issued to the Lender on April 13,
2016 as part of a private placement financing. In lieu of paying the Company cash in the amount
$48,500 for the exercise of the warrants, the balance of the Loan was reduced by this amount. On
exercise of the warrants, 970,000 common shares of the Company were issued to the Lender. The
shares-for-debt transaction is subject to review and approval by the TSX Venture Exchange.
The Loan was a "related party transaction" for purposes of Mu ltilateral Instrument 61-101 -
Protection of Minority Security Holders in Special Transactions ("MI 61-101"). The transaction
is exempt from the valuation and minority approval requirements of MI 61-101 in accordance with
sections 5.5(b) and 5.7(f) as the Company is not listed on a specified market and the commercial
terms of the Loan are reasonable and not less advantageous to the Company than if the Loan was
obtained from a person dealing at arm's length.
IR Agreement
Further to its news release of December 8, 2021 regarding its engagement with Refined Substance
Inc. to provide investor relations consulting services (the " IR Agreement"), the Company has
determined that the co st of the IR Agreement to the Co mpany is anticipated to be $3,500 per
month.
About Stria Lithium Inc.
Stria Lithium is a Canadian junior mineral expl oration company with an expanding technology
focus and has a 100% interest in the Pontax spodumene lithium project in Northern Québec.
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.
For more information, please contact:
Kimberly Darlington
Communications, Stria Lithium
Judith Mazvihwa-Maclean
CFO, Stria Lithium Inc.
(613) 581-4040
Forward Looking Statements
Except for statements of histor ical fact, this news release contains certain "forward-looking
information" within the meaning of applicable securities law. Forwar d-looking information is
frequently characterized by words such as "plan" , "expect", "project", "intend", "believe",
"anticipate", "estimate" and other similar words, or statements th at 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 opini ons 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 ma terially from those anticipated in the forward-
looking information. Pleas e refer to the risk factors disc losed under our profile on SEDAR at
www.sedar.com. Readers are cautione d that this list of risk fact ors should not be construed as
exhaustive.
The forward-looking information c ontained in this news release is expressly qualified by this
cautionary statement. We undertake no duty to upda te any of the forward-looking information 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.