Stria Lithium Inc. Announces Closing of Private Placement

OTTAWA, ON / ACCESSWIRE / June 24, 2021 / Stria Lithium Inc. ("Stria" or the 'Company') (TSXV:SRA), is pleased to announce that it has closed its previously announced non-brokered private placement (the "Offering") for total aggregate gross proceeds of $1,300,000. Pursuant to the Offering, the Company issued 52,000,000 units (the "Units") at a price of $0.025 per Unit. Each Unit consists of 1 common share and 1 common share purchase warrant (the "Warrant"). Each Warrant is exercisable into common shares (the "Warrant Share") at a price of $0.05 per Warrant Share until June 24, 2023.

In connection with the closing of the Offering, the Company paid cash finder's fees totaling $12,000 and issued 480,000 non-transferable finder's warrants (the "Finders Warrants"). Each Finders Warrant entitles the holder to acquire one (1) common share of the Company at a price of $0.05 per common share until June 24, 2023.

The securities issued in connection with the Offering are subject to a four-month and one day hold period expiring October 25, 2021.

Two insiders of the Company participated in the Offering and subscribed for an aggregate of 7,000,000 Units representing an aggregate amount of $175,000. Participation of insiders of the Company in the Offering constitutes a 'related party transaction' as defined under Multilateral Instrument 61-101 Protection of Minority Security Holders in Special Transactions ('61-101'). The Offering is exempt from the formal valuation and minority shareholder approval requirements of 61-101 as neither the fair market value of securities being issued to insiders nor the consideration being paid by insiders will exceed 25% of the Company's market capitalization. The Company did not file a material change report 21 days prior to the closing of the Offering as the details of the participation of insiders of the Company had not been confirmed at that time.

The Offering is subject to the final approval of the TSX Venture Exchange.

About Stria Lithium
Stria Lithium is a Canadian junior mineral exploration company with an expanding technology focus and is the sole owner of the Pontax spodumene lithium property in Northern Québec.

Lithium is a critical metal in the universal fight against global warming. It is a core component of Lithium-Ion batteries used for powering electric vehicles and for industrial scale energy storage.

For more information about Stria Lithium, please visit www.strialithium.com.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.