Jeffrey York

April 13, 2016 15:25 ET

Jeffrey York Acquires Shares of Stria Lithium Inc.

OTTAWA, ONTARIO--(Marketwired - April 13, 2016) - Jeffrey York, Chairman of the Board and a Director of Stria Lithium Inc. ("Stria"), announces that he has purchased 1,940,000 flow-through units of Stria at a price of $0.05 per flow-through unit by way of private placement, for total proceeds of $97,000. Each flow-through unit is comprised of one common share of Stria and one-half (1/2) of one common share purchase warrant (each whole warrant, a "Warrant"). Each Warrant entitles the holder to acquire one additional common share of Stria at a price of $0.05 until April 13, 2021.

Prior to the closing of the private placement, Mr. York owned 2,561,451 common shares of Stria, warrants entitling Mr. York to purchase 526,316 common shares of Stria and stock options entitling Mr. York to purchase 117,424 common shares of Stria for a total of 3,205,191 common shares of Stria (assuming the exercise of the 526,316 warrants and the 117,424 options), which represents approximately 13.41% of the common shares issued and outstanding. Immediately following the closing of the private placement, Mr. York directly and indirectly owns the following Stria securities: (i) 4,501,451 common shares, representing approximately 13.54% of the issued and outstanding common shares of Stria, (ii) common share purchase warrants entitling Mr. York to purchase 1,496,316 common shares of Stria, and (iii) stock options entitling Mr. York to purchase 117,424 common shares of Stria. Assuming the exercise of all warrants and stock options held by Mr. York, he would own 6,115,191 common shares, representing approximately 17.54% 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. York 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. York 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. York 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.

Contact Information

  • Jeffrey York
    130 Albert Street, suite 912
    Ottawa, Ontario, Canada
    K1P 5G4