Non-brokered deal sells units of common stock, half-share warrants
By Marisa Wong
Morgantown, W.Va., June 23 – Stria Lithium Inc. announced an up to C$1 million non-brokered private placement of units.
The company plans to issue up to 8,333,334 units at a price of C$0.12 per unit.
Each unit is comprised of one common share and half of one common share purchase warrant. Each warrant will entitle its holder to purchase a common share at an exercise price of C$0.20 per share for a period of 24 months.
The strike price is a 66.67% premium to the June 21 closing share price of C$0.12.
The company said it will use proceeds for general working capital and research related to its lithium extraction process technology.
Stria Lithium is an Ottawa-based junior mining exploration company with an expanding technology focus and is also the owner of the Pontax spodumene lithium property in Northern Quebec.
| Issuer: | Stria Lithium Inc.
|
| Issue: | Units of one common share and half a warrant
|
| Amount: | Up to C$1 million
|
| Units: | Up to 8,333,334
|
| Price: | C$0.12
|
| Warrants: | Half of a common share purchase warrant per unit
|
| Warrant expiration: | 24 months
|
| Warrant strike price: | C$0.20
|
| Agent: | Non-brokered
|
| Announcement date: | June 23
|
| Stock symbol: | TSX Venture: SRA
|
| Stock price: | C$0.12 at close June 21
|
| Market capitalization: | C$3.33 million
|
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