Stria Lithium Inc. Announces Non-Brokered Private Placement of up to $1,000,000

Core Viewpoint - Stria Lithium Inc. is initiating a non-brokered private placement to raise up to $1,000,000 for advancing its mineral exploration assets and operations, as well as for general working capital purposes [1][2]. Financing Details - The company plans to issue up to 2,380,952 units at a price of $0.42 per unit, aiming for total gross proceeds of up to $1,000,000 [1]. - Each unit will include a warrant allowing the holder to purchase one additional common share at an exercise price of $0.52 for three years from issuance [2]. Insider Participation - Certain insiders may participate in the financing, which will be considered a related party transaction. This participation is expected to be exempt from formal valuation and minority shareholder approval requirements under MI 61-101 [3]. Use of Proceeds - Proceeds from the financing will be allocated towards the advancement of mineral exploration assets, potential future acquisitions, and general working capital [2]. Regulatory Compliance - The financing is subject to acceptance by the TSX Venture Exchange, and all securities issued will be subject to a statutory hold period of four months and one day [4]. Company Overview - Stria Lithium is focused on developing Canadian lithium reserves to meet the growing demand for electric vehicles and lithium-ion batteries [5]. - The company is committed to responsible exploration and development of its mining assets [5]. Project Details - Stria's Central Pontax Lithium Project spans 36 square kilometers and is located in the Canadian "Lithium Triangle," a significant area for hard rock lithium mining in North America [6]. - The project has a maiden JORC-compliant inferred mineral resource estimate of 10.1 million tonnes at 1.04% Li2O [6][7]. Joint Venture - Cygnus Metals is fully funding a two-stage exploration and drilling program at Stria's Pontax property, with a maximum budget of $10 million and potential cash payments of up to $6 million to Stria [8]. - Cygnus has already earned a 51% interest in the property by fulfilling stage 1 requirements [8]. Industry Context - The North American lithium industry is experiencing growth due to government support for the green energy revolution and the shift towards electric vehicles, presenting significant opportunities for investors [9]. Commitment to ESG - Stria is dedicated to exceeding environmental, social, and governance standards, aiming to build meaningful relationships with local communities and stakeholders [10].