Stria Lithium Inc. Announces Share Consolidation
Stria Lithium Inc. announced a proposed share consolidation at its annual shareholder meeting on April 19, 2022. The plan includes consolidating ten pre-consolidation common shares into one post-consolidation share, reducing the total from 162,110,369 to approximately 16,211,036 shares. This consolidation is designed to affect all shareholders uniformly, preserving their voting rights and percentage interests, though it may round fractional shares. Shareholder and TSXV approval is required, and the consolidation date will be revealed after approvals.
- The consolidation aims to enhance share value by reducing the total number of outstanding shares.
- Shareholders' percentage interest and voting rights will remain unaffected.
- Consolidation may lead to temporary market uncertainty as shareholders adjust to the new share structure.
OTTAWA, ON / ACCESSWIRE / March 28, 2022 / Stria Lithium Inc. ("Stria" or the "Company ) (TSXV:SRA) announced today that at the upcoming annual and special shareholder meeting of April 19, 2022, the shareholders will be asked to consider, and if deemed appropriate, pass a special resolution approving an amendment to the Company's articles to consolidate the issued and outstanding common shares of the Company on the basis of one (1) post-consolidation common share for every ten (10) pre-consolidation common shares outstanding (the "Consolidation").
There are currently 162,110,369 common shares issued and outstanding. post-Consolidation there will be approximately 16,211,036 common shares issued and outstanding.
No fractional common shares of the Company will be issued if, as a result of the Consolidation, a registered shareholder would otherwise be entitled to a fractional share. Instead, the Company will round any fractional shares resulting from the Consolidation in the following manner: a registered shareholders holding 0.50 or more fractional shares will be rounded up to the nearest whole share, and a registered shareholder holding less than 0.50 of a fractional share will be rounded down to the nearest whole share.
The Consolidation will affect all Shareholders uniformly and will not affect any Shareholders' percentage interest in the Company, except to the extent that the Consolidation would otherwise result in a Shareholder owning a fractional share. In addition, the Consolidation will not affect any Shareholder's proportionate voting rights, subject to the treatment of fractional shares described above.
The Consolidation is subject to shareholder and TSXV approval and the effective date of the Consolidation will be announced once all approvals have been received. No name change will be made in conjunction with the Consolidation.
About Stria Lithium Inc.
Stria Lithium is a Canadian junior mineral exploration company with an expanding technology focus and has a
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 and the Pontax Lithium project, please visit http://strialithium.com.
Neither the 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 accuracy of this release.
Forward Looking Statements
Except for statements of historical fact, this news release contains certain "forward-looking information" within the meaning of applicable securities law. Forward-looking information is frequently characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate" and other similar words, or statements that certain events or conditions "may" or "will" occur. Although we believe that the expectations reflected in the forward-looking information are reasonable, there can be no assurance that such expectations will prove to be correct. We cannot guarantee future results, performance or achievements. Consequently, there is no representation that the actual results achieved will be the same, in whole or in part, as those set out in the forward-looking information.
Forward-looking information is based on the opinions and estimates of management at the date the statements are made and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those anticipated in the forward-looking information. Please refer to the risk factors disclosed under our profile on SEDAR at www.sedar.com. Readers are cautioned that this list of risk factors should not be construed as exhaustive.
The forward-looking information contained in this news release is expressly qualified by this cautionary statement. We undertake no duty to update any of the forward-looking information to conform such information to actual results or to changes in our expectations except as otherwise required by applicable securities legislation. Readers are cautioned not to place undue reliance on forward-looking information.
For more information on Stria Lithium Inc., please contact:
Kimberly Darlington
Communications, Stria Lithium Inc.
kimberly@refinedsubstance.com
Judith T. Mazvihwa-MacLean
CFO, Stria Lithium Inc.
Jmazvihwa@grafoid.com
(613) 581-4040
SOURCE: Stria Lithium, Inc.
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https://www.accesswire.com/694842/Stria-Lithium-Inc-Announces-Share-Consolidation
FAQ
What is the share consolidation proposed by Stria Lithium (SRCAF)?
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