Stria Announces Closing of $477,500 Private Placement
OTTAWA, Dec. 13, 2017 (GLOBE NEWSWIRE) --
NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES
Stria Lithium Inc. (TSXV:SRA) (“Stria” or the “Company”) is pleased to announce that it has closed its previously-announced private placement by issuing 9,550,000 “flow-through” units (the “Units”) at a price of $0.05 per Unit, for gross proceeds to Stria of $477,500 (the “Offering”). Each Unit is comprised of one common share and one common share purchase warrant (the “Warrant”). Each warrant will entitle the holder to acquire one additional common share of Stria at a price of $0.05 until December 9, 2021.
In connection with the Offering, the Company paid a finder’s fee totaling $8,400 in cash and issued 168,000 non-transferable warrants to purchase same number of common shares of the Company at a price of $ 0.05 per common share until December 8, 2021.
The securities issued in connection with the closing of the Offering are subject to a four-month hold period expiring on April 9, 2018. The Offering is subject to the final approval of the TSX Venture Exchange.
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.
Contact:
Stria Lithium Inc.
Gary Economo, President & CEO
613 702-0789
geconomo@strialithium.com
www.strialithium.com
