OTTAWA, ONTARIO--(Marketwired - Oct. 31, 2014) -
NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES
Jeffrey York, Chairman of the Board of Directors of Stria Lithium Inc. (TSX VENTURE:SRA), announces that he has purchased 526,316 units of Stria Lithium Inc. at a price of $0.19 per unit by way of private placement, for total proceeds of $100,000.04. Each unit is comprised of one flow-through common share of Stria Lithium Inc. and one common share purchase warrant. Each common share purchase warrant entitles the holder to acquire one additional common share of Stria Lithium Inc. at a price of $0.35 until October 29, 2016.
Immediately following the closing of the private placement, Jeffrey York directly and indirectly owns the following Stria Lithium Inc. securities: (i) 2,561,451 common shares, representing approximately 15.03% of the issued and outstanding common shares of Stria Lithium Inc., (ii) common share purchase warrants entitling Mr. York to purchase 526,316 common shares of Stria Lithium Inc., and (iii) stock options entitling Mr. York to purchase 117,424 common shares of Stria Lithium Inc. Assuming the exercise of all warrants and stock options held by Mr. York, he would own 3,205,191 common shares, representing approximately 18.13% of the Stria Lithium Inc. common shares that would then be issued and outstanding. The common shares and warrants are being issued to the Offeror as an accredited investor in reliance on the prospectus exemption set out in section 2.3 of National Instrument 45-106.
Mr. York acquired the Stria Lithium Inc. common shares and common share purchase warrants in the private placement for investment purposes, and in accordance with applicable securities laws, Mr. York may, from time to time and at any time, acquire additional common shares of Stria Lithium and/or other equity, debt or other securities or instruments of Stria Lithium Inc. in the open market or otherwise, and he reserves the right to dispose of any or all of his Stria Lithium Inc. securities in the open market or otherwise at any time and from time to time, and to engage in similar transactions with respect to the securities, the whole depending on market conditions, the business and prospects of Stria Lithium Inc. and other relevant factors. |