OTTAWA, ONTARIO--(Marketwired - Jan. 30, 2017) - Jeffrey York (the "Acquiror"), Chairman of the Board of Directors of Stria Lithium Inc. (TSX VENTURE:SRA) (the "Corporation"), announces that he has acquired 2,000,000 common share purchase warrants of the Corporation (the "Warrants") pursuant to a share loan and pledge agreement (the "Transaction"). Each Warrant entitles the holder to acquire one additional common share of the Corporation at a price of $0.05 until January 27, 2022.
Immediately prior to the closing of the Transaction, the Acquiror held, directly or indirectly, (i) 4,501,451 common shares of the Corporation (ii) common share purchase warrants entitling the Acquiror to purchase 1,496,316 common shares of the Corporation, and (iii) stock options entitling the Acquiror to purchase 117,424 common shares of the Corporation. Assuming the exercise of all stock options and warrants held by the Acquiror prior to the closing of the Transaction, he would have owned 6,115,191 common shares, representing, on a partially diluted basis, 17.33% of the Corporation's common shares that would then be issued and outstanding.
Immediately following the closing of the Transaction, assuming the exercise of all stock options and warrants held by the Acquiror following the closing of the Transaction, he would own 8,115,191 common shares, representing 17.58% of the Corporation's common shares that would then be issued and outstanding.
The Acquiror acquired the Warrants described in this press release for investment purposes and in accordance with applicable securities laws, the Acquiror may, from time to time and at any time, acquire additional shares and/or other equity, debt or other securities or instruments (collectively, "Securities") of the Corporation 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 the Corporation and other relevant factors.
A copy of the early warning report to be filed by the Acquiror in connection with the Transaction described above will be available on SEDAR under the Corporation's profile. This news release is issued under the early warning provisions of the Canadian securities legislation.