Stria Lithium Inc. Provides Update on Amended Stock Option Plan

Rhea-AI Summary

Stria Lithium Inc. (TSXV:SRA) has announced updates regarding its Stock Option Plan following shareholder approval on May 21, 2021. The New Plan introduces a fixed incentive stock option plan allowing for the granting of options for 14,716,073 shares to eligible individuals, including directors and employees. Options may be exercised at a minimum price of $0.05, subject to TSXV approval. Stria, engaged in lithium exploration, holds a 100% interest in the Pontax spodumene lithium project, essential for electric vehicle batteries.

Positive

• Introduction of a fixed incentive stock option plan, enhancing employee motivation.
• A total of 14,716,073 shares can be granted, indicating significant potential for stakeholder participation.
• The plan aligns with lithium's critical role in energy storage and electric vehicle sectors.

Negative

• None.

KINGSTON, ON / ACCESSWIRE / November 1, 2021 / Stria Lithium Inc. ("Stria" or the "Company") (TSXV:SRA), is pleased to provide the following update regarding its Stock Option Plan approved at the shareholders meeting held May 21, 2021 by shareholders of the Company. The new 20% fixed incentive stock option plan (the "New Plan") replaces the previous rolling stock option plan.

Pursuant to the New Plan, options entitling the purchase of an aggregate 14,716,073 common shares in the capital of the Company may be granted to directors, officers, employees and consultants of the Company from time to time.

The New Plan also permits options granted under the New Plan to be exercised at a price not less than the Discounted Market Price (as such term is defined in the polices of the TSX Venture Exchange ("TSXV")), subject to a minimum exercise price of $0.05.

The New Plan is subject to the approval of the TSXV.

About Stria Lithium

Stria Lithium is a Canadian junior mineral exploration company with an expanding technology focus and has a 100% interest in the Pontax spodumene lithium project 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.

For more information, please contact:

Kimberly Darlington
Communications, Stria Lithium
kimberly@refinedsubstance.com

Judith Mazvihwa-Maclean
CFO, Focus Graphite
jmazvihwa@focusgraphite.com
(613) 581-4040

SOURCE: Stria Lithium Inc.

View source version on accesswire.com:
https://www.accesswire.com/670587/Stria-Lithium-Inc-Provides-Update-on-Amended-Stock-Option-Plan

FAQ

What is the significance of Stria Lithium's new stock option plan?

The new stock option plan enhances employee motivation by providing incentives linked to company performance and aligns with industry growth.

How many shares are included in Stria Lithium's new stock option plan?

The new stock option plan allows for options entitling the purchase of 14,716,073 shares.

What is the minimum exercise price for options under the new plan?

Options under the new plan can be exercised at a minimum price of $0.05.

When was the new stock option plan approved?

The new stock option plan was approved by shareholders on May 21, 2021.

What is Stria Lithium's primary focus?

Stria Lithium focuses on lithium exploration and holds a 100% interest in the Pontax spodumene lithium project.