OTTAWA, ONTARIO, April 5, 2022 – Stria Lithium Inc. (“Stria” or the “Company”) is pleased to provide an update to the proposed purchase of the Romer Property (the “Property”) from Braille Energy Systems Inc. (“Braille”) previously announced in its March 4, 2022 news release (the “Proposed Transaction”).
Stria received conditional approval of the Proposed Transaction from the TSX Venture Exchange (the “Exchange”) on March 17, 2022. Conditions necessary for the Exchange’s final approval include delivery to the Exchange of an independent Geological Report of the Property and a copy of the final executed acquisition agreement. Braille must obtain disinterested shareholder approval of the Proposed Transaction.
Both Braille and Stria continue to work towards completing and executing a definitive agreement of purchase and sale of the Property. IOS Services Géoscientifiques has been engaged to complete an independent Geological Report. Braille will ask disinterested shareholders for approval of the Proposed Transaction at its annual and special meeting schedule for May 19, 2022.
About Braille Energy Systems Inc.
Braille Energy Systems Inc. holds an 89.95% equity interest in Braille Holdings Inc., which holds a 100% equity interest in Braille Battery Inc. Braille Battery is an established battery-manufacturing and energy storage company supplying batteries to the professional motor sports industry and the pioneer of a complete line of lightweight high powered battery systems for the transportation market. Braille Energy Systems (BESI) will expand its market penetration into a wider range of market segments that require lightweight, high-performing energy solutions, using the most scientifically advanced materials.
About Stria Lithium Inc.
Stria Lithium is a Canadian junior mineral exploration 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 and the Pontax Lithium project, please visit https://strialithium.com.
This News Release contains “forward-looking information” within the meaning of Canadian securities legislation. All information contained herein that is not clearly historical in nature may constitute forward-looking information. Generally, such forward-looking information can be identified by the use of forward-looking terminology such as “plans”, “expects” or “does not expect”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases or state that certain actions, events or results “may”, “could”, “would”, “might” or “will be taken”, “occur” or “be achieved”. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking information. Forward-looking information is based on assumptions management believes to be reasonable at the time such statements are made, including but not limited to, receipt of required regulatory approvals, and such other assumptions and factors as set out herein. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in the forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such forward-looking information. Such forward-looking information has been provided for the purpose of assisting investors in understanding the Company’s business and operations and may not be appropriate for other purposes. Accordingly, readers should not place undue reliance on forward-looking information. Forward-looking information is made as of the date of this News Release, and the Company does not undertake to update such forward-looking information except in accordance with applicable securities laws.
Neither the 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 of this release.
For more information on Braille Energy Systems Inc., please contact:
Communications, Stria Lithium Inc.
Judith T. Mazvihwa-MacLean
CFO, Stria Lithium Inc.