Stria Lithium Announces a Non-Brokered Private Placement for an Amount of $1,000,000
OTTAWA, ONTARIO--(Marketwired - Jun 23, 2016) - Stria Lithium Inc. (TSX VENTURE:SRA) ("Stria" or the "Company") announces a non-brokered private placement for gross proceeds of up to $1,000,000 by issuing a maximum of 8,333,334 units at a price of $0.12 per unit.
Each unit is comprised of one (1) common share and one-half (1/2) of one common share purchase warrant. Each warrant will entitle its holder to purchase a common share at an exercise price of $0.20 per common share for a period of 24 months following the closing date of the private placement.
The Offering is subject to the final approval of the TSX Venture Exchange. The company will use the proceeds for general working capital and research related to the Company's lithium extraction process technology.
About Stria
Stria Lithium Inc. (TSX VENTURE:SRA) is a Canadian junior mining exploration company with an expanding technology focus and is also the sole owner of the Pontax spodumene lithium property in Northern Quebec. 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.
Forward-Looking Statement
This news release may contain forward-looking statements, being statements that are not historical facts, and discussions of future plans and objectives. There can be no assurance that such statements will prove accurate. Such statements are necessarily based upon a number of estimates and assumptions that are subject to numerous risks and uncertainties that could cause actual results and future events to differ materially from those anticipated or projected. Important factors that could cause actual results to differ materially from the Company's expectations are in our documents filed from time to time with the TSX Venture Exchange and provincial securities regulators, most of which are available at www.sedar.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 accuracy of this release.
Contact
Stria Lithium Inc.
Iain Todd
President & COO
613 241-4040
itodd@strialithium.com
www.strialithium.com
