Stria Lithium Announces the Close of Its Non-Brokered Private Placement Raising $1,000,000

Executive Summary

• Stria Lithium Inc. announced the closing of its non-brokered private placement, raising $1,000,000 in gross proceeds.
• The company issued 2,127,659 Units at a price of $0.47 per Unit, with each unit consisting of one common share and one common share purchase warrant.
• The proceeds are designated for advancing mineral exploration assets and operations, potential future acquisitions, and general working capital.

Key Details

• Gross Proceeds: $1,000,000.
• Units Issued: 2,127,659 Units.
• Price Per Unit: $0.47.
• Warrant Terms: Each Unit includes one common share purchase warrant. Each warrant entitles the holder to acquire one common share at an exercise price of $0.59 per share.
• Warrant Expiration: 36 months following the closing date (February 26, 2029).
• Use of Proceeds: Advancement of mineral exploration assets and operations, potential future acquisitions, and general working capital.
• Fees and Insiders: No finder fees were paid; no insiders participated in the equity financing.
• Hold Period: All securities are subject to a statutory hold period of four months and one day from the date of issuance.
• Contextual Update (Cygnus Metals JV): The release notes that Cygnus Metals has fulfilled stage 1 requirements of its agreement with Stria, earning a 51% interest in the Pontax Central Project. Cygnus is committed to funding up to $10 million in exploration/drilling and paying Stria up to $6 million in cash, with the potential to acquire up to a 70% interest.