OTTAWA, ON / ACCESS WIRE / June 24, 2021 / Stria Lithium Inc. (“Stria” or the “Company”) (TSX Venture Exchange: SRA, Financial), is pleased to announce that it has closed its previously announced non-brokered private placement (the “Offer“) for aggregate gross proceeds of $ 1,300,000. In connection with the offering, the Company issued 52,000,000 units (the”Units“) at a price of $ 0.025 per unit. Each unit consists of one common share and one common share purchase warrant (the”To guarantee“). Each warrant may be exercised in common shares (the”Warrant share“) at a price of $ 0.05 per warrant share until June 24, 2023.
In connection with the closing of the offering, the Company paid cash finder’s fees totaling $ 12,000 and issued 480,000 non-transferable finder’s warrants (the “”Research mandatesEach Finders Warrant allows its holder to acquire one (1) common share of the Company at a price of $ 0.05 per common share until June 24, 2023.
The securities issued in connection with the placement are subject to a holding period of four months and one day expiring on October 25, 2021.
Two insiders of the Company participated in the offering and subscribed a total of 7,000,000 units representing a total amount of $ 175,000. The participation of insiders of the Company in the Offer constitutes a “related party transaction” within the meaning of NI 61-101. Protection of holders of minority securities in special transactions (‘61-101‘). The Offer is exempt from the formal valuation and minority shareholder approval requirements of 61-101 as neither the fair market value of the securities issued to insiders nor the consideration paid by insiders will exceed 25% of the market capitalization of the Offer. Society. The Company did not file a material change report 21 days prior to the closing of the offering as details of the involvement 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 growing, technology-driven, junior Canadian mining exploration company and is the sole owner of the Pontax lithium spodumene property in northern Quebec.
Lithium is an essential metal in the universal fight against global warming. It is an essential component of lithium-ion batteries used to power electric vehicles and for energy storage on an industrial scale.
For more information on Stria Lithium, please visit www.strialithium.com.
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 adequacy or accuracy of this release.
Caution Regarding Forward-Looking Statements
This press release contains “forward-looking statements”. Forward-looking statements may be identified by words such as: “anticipate”, “intend”, “plan”, “objective”, “seek”, “believe”, “project”, “,” future “, ‘probable’, ‘may’, ‘should’, ‘will’ and similar references to future periods. Examples of forward-looking statements include, among others, statements we make regarding the closing of the Transaction and the number of shares that may be issued to the Lender in connection with the Transaction.
Forward-looking statements are neither historical facts nor assurances of future performance. Instead, they are based solely on our current beliefs, expectations and assumptions about the future of our business, future plans and strategies, projections, anticipated events and trends, the economy and other future conditions. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict and many of which are beyond our control. Our actual results and financial condition may differ materially from those shown in forward-looking statements. Therefore, you should not rely on any of these forward-looking statements. Significant factors that could cause our actual results and financial condition to differ materially from those indicated in forward-looking statements include, but are not limited to, fluctuations in the price of the Company’s listed shares and obtaining necessary shareholder approvals and of the TSX Venture Exchange to complete the transaction.
Any forward-looking statements we make in this press release are based solely on information currently available to us and speak only as of the date on which they are made. Except as required by applicable securities laws, we assume no obligation to publicly update any forward-looking statements, written or oral, that may be made from time to time, whether as a result of new information, future developments or otherwise.
Stria Lithium inc.
SOURCE: Stria Lithium inc.
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