Gary Economo

October 29, 2015 15:26 ET

Gary Economo Acquires Shares of Stria Lithium Inc.

OTTAWA, ONTARIO--(Marketwired - Oct. 29, 2015) - Gary Economo, Chief Executive Officer and a Director of Stria Lithium Inc. ("Stria"), announces that he has purchased 1,000,000 units of Stria at a price of $0.05 per unit by way of private placement, for total proceeds of $50,000. Each unit is comprised of one common share of Stria and one common share purchase warrant. Each common share purchase warrant entitles the holder to acquire one additional common share of Stria at a price of $0.07 until October 23, 2019.

Prior to the closing of the private placement, Mr. Economo owned 2,135,135 common shares of Stria and stock options entitling Mr. Economo to purchase 117,424 common shares of Stria for a total of 2,252,559 common shares of Stria (assuming the exercise of the 117,424 options), which represents approximately 10.49% of the common shares issued and outstanding. Immediately following the closing of the private placement, Mr. Economo directly and indirectly owns the following Stria securities: (i) 3,135,135 common shares, representing approximately 13.48% of the issued and outstanding common shares of Stria, (ii) common share purchase warrants entitling Mr. Economo to purchase 1,000,000 common shares of Stria, and (iii) stock options entitling Mr. Economo to purchase 117,424 common shares of Stria. Assuming the exercise of all warrants and stock options held by Mr. Economo, he would own 4,252,559 common shares, representing approximately 17.45% of the Stria common shares that would then be issued and outstanding.

The private placement is a private transaction that did not take place on any market or exchange.

Mr. Economo acquired the Stria common shares and common share purchase warrants in the private placement for investment purposes, and in accordance with applicable securities laws, Mr. Economo may, from time to time and at any time, acquire additional common shares of Stria and/or other equity, debt or other securities or instruments (collectively, the "Securities") of Stria in the open market or otherwise, and he reserves the right to dispose of any or all of his 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 and other relevant factors.

A copy of the Early Warning Report filed by Mr. Economo in connection with the private placement is available on SEDAR on Stria's SEDAR profile. The news release is being issued under the early warning provisions of Canadian securities legislation.

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