Mr. Robert Mintak reports

STANDARD LITHIUM RAISES $12 MILLION IN OVERSUBSCRIBED PRIVATE PLACEMENT

Due to strong market demand, Standard Lithium Ltd.'s previously announced $9-million non-brokered private placement of special warrants has now closed oversubscribed for gross proceeds of $12,105,165. In connection with the closing, the company has issued 16,140,220 special warrants at a price of 75 cents per special warrant.

Highlights:

• Two strategic investors subscribed for 4.1 million special warrants, or $3,075,000.
• Meaningful participation from the company's board of directors, senior management and technical team members.
• Robert Mintak, chief executive officer, Dr. Andy Robinson, president and chief operating officer, and Anthony Alvaro, director, subscribed for a total of 1,066,667 special warrants, or $800,000.

Mr. Mintak commented: "We are very happy with the outcome of this oversubscribed financing and the support for the company by our significant shareholders. Participation from management, including members of our technical team, and our board of directors reinforces our team's strong confidence in the project. The funding will allow Standard Lithium to maintain our rapid development momentum and focus on the successful delivery of a number of major near-term milestones, including the successful commissioning and continuous operation of our LiSTR direct lithium extraction demonstration plant, which will provide the proof of concept required for a final investment decision."

Dr. Robinson commented, "This funding round demonstrates that management's strategy is fully aligned with our shareholders, and we are confident that our strengthened balance sheet will accelerate the project's final stages of derisking and Standard Lithium's rapid transition from developer towards producer."

Each special warrant entitles the holder thereof to receive, upon voluntary exercise prior to, or deemed exercise on, the automatic exercise date (as defined herein) and without payment or additional consideration, one unit of the company. Each conversion unit will consist of one common share of the company and one-half of one common share purchase warrant. Each conversion warrant will entitle the holder to acquire an additional common share of the company at a price of $1 per share for a period of 24 months, subject to an accelerated expiry if the closing price of the company's shares is greater than $1.50 per share for a period of 15 consecutive trading days. The company will give notice to the holders of the acceleration event, and the warrants will expire 30 days thereafter.

Each special warrant will be deemed exercised on the date that is two business days following the earlier of: (i) the date that is four months and one day from completion of the private placement; or (ii) the date on which the company obtains a receipt from the applicable securities regulatory authorities for a final prospectus qualifying distribution of the conversion units. The company will use its commercially reasonable efforts to obtain a receipt from the securities commissions for a final prospectus qualifying the distribution of the conversion units, upon exercise of the special warrants, on or before 5 p.m. PT on March 6, 2020.

The company intends to use the net proceeds of the private placement: to complete commissioning of its LiSTR direct lithium extraction demonstration plant in southern Arkansas; to maintain existing property interests; and for general working capital purposes.

Insiders of the company subscribed for an aggregate of 1,066,667 special warrants. The issuances of special warrants to insiders pursuant to the private placement are considered related party transactions within the meaning of TSX Venture Exchange Policy 5.9 and Multilateral Instrument 61-101 -- Protection of Minority Security Holders in Special Transactions. The company relied on exemptions from the formal valuation and minority approval requirements in sections 5.5(a) and 5.7(1)(a) of MI 61-101 in respect of insider participation, as, at the time the transaction was agreed to, neither the fair market value of, nor the fair market value of the consideration for, the transaction, insofar as it involves interested parties, exceeded 25 per cent of the company's market capitalization.

In connection with completion of the private placement, the company has paid finders' fees of $119,268 and issued 452,025 conversion warrants to certain arm's-length parties that assisted in introducing subscribers to the company. All securities issued in connection with the private placement are subject to a four-month-and-one-day statutory hold period, in accordance with applicable securities laws.

About Standard Lithium Ltd.

Standard Lithium is a specialty chemical company focused on unlocking the value of existing large-scale, United States-based lithium-brine resources.

We seek Safe Harbor.