NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES
OTTAWA – July 21, 2017 — Stria Lithium Inc. (TSXV:SRA) (“Stria” or the “Company”) is pleased to announce that it has held a first closing of its previously-announced private placement by issuing 5,000,000 units at a price of $0.04 per unit, for gross proceeds to Stria of $200,000 to “accredited investors” in Ontario. Each of the units is comprised of one common share and one common share purchase warrant. Each warrant will entitle the holder to acquire one additional common share of Stria at a price of $0.05 until July 20, 2020.
Additional closings of the private placement may be held until August 21, 2017, subject to a maximum of 12,500,000 units, for total maximum gross proceeds of $500,000.
Stria will use the proceeds from the first closing of the private placement for general corporate purposes ($66,000), which includes the further development of its lithium extraction process, to pay the finder’s fee under the private placement ($12,600) and to reduce it current liabilities ($120,000). Of the amount to be paid to reduce its current liabilities, it is expected that no payments will be made to related persons of Stria.
In connection with the private placement, Stria paid a finder’s fee to Secutor Capital Management Corporation in the amount of $12,600, representing 7% of the gross proceeds raised in the first closing of the private placement through Secutor Capital Management Corporation and issued to Secutor Capital Management Corporation 315,000 broker warrants in connection with the sale of the units. Each broker warrant entitles the holder to acquire one common share of Stria Exploration at a price of $0.05 until July 20, 2020.
Under applicable securities legislation and the policies of the TSX Venture Exchange, the securities issued in the private placement are subject to a four-month hold period, expiring on November 21, 2017.
About Stria Lithium Inc.
Stria 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 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 Lithium-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.
Stria Lithium Inc.
Gary Economo, President & CEO