Stria Lithium Provides Further Update on Proposed Purchase of Romer Property

Rhea-AI Summary

Stria Lithium Inc. (TSXV:SRA) has provided an update on its proposed acquisition of the Romer Property from Braille Energy Systems Inc., initially announced in early March 2022. The independent Geological Report by IOS Services Géoscientifiques is expected this week, which will likely inform the transaction's viability. Stria Lithium, a Canadian junior mineral exploration company, holds a 100% interest in the Pontax spodumene lithium project, a crucial asset amidst the growing lithium demand for electric vehicle batteries and renewable energy storage solutions.

Positive

• Expected delivery of independent Geological Report to inform acquisition.
• Strategic acquisition potentially enhances asset portfolio in a high-demand sector.

Negative

• None.

OTTAWA, ON / ACCESSWIRE / June 20, 2022 / Stria Lithium Inc. (TSXV:SRA) ("Stria" or the "Company") is pleased to provide an update to the proposed purchase of the Romer Property (the "Property") from Braille Energy Systems Inc. previously announced in news releases dated March 4, 2022, April 5, 2022, and April 7, 2022 (the "Proposed Transaction").

IOS Services Géoscientifiques continues preparing the independent Geological Report. The report is expected to be delivered this week.

About Stria Lithium Inc.

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 http://strialithium.com.

Forward-Looking Statement

This News Release contains "forward-looking information" within the meaning of Canadian securities legislation. All information contained herein that is not clearly historical in nature may constitute forward-looking information. Generally, such forward-looking information can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved". Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking information. Forward-looking information is based on assumptions management believes to be reasonable at the time such statements are made, including but not limited to, receipt of required regulatory approvals, and such other assumptions and factors as set out herein. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in the forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such forward-looking information. Such forward-looking information has been provided for the purpose of assisting investors in understanding the Company's business and operations and may not be appropriate for other purposes. Accordingly, readers should not place undue reliance on forward-looking information. Forward-looking information is made as of the date of this News Release, and the Company does not undertake to update such forward-looking information except in accordance with applicable securities laws.

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.

For more information on Stria Lithium Inc., please contact:

Kimberly Darlington
Communications, Stria Lithium Inc.
kimberly@refinedsubstance.com
514-771-3398

Judith T. Mazvihwa-MacLean
CFO, Stria Lithium Inc.
Jmazvihwa@grafoid.com
613 581 4040

SOURCE: Stria Lithium, Inc.

View source version on accesswire.com:
https://www.accesswire.com/705818/Stria-Lithium-Provides-Further-Update-on-Proposed-Purchase-of-Romer-Property

FAQ

What is the latest update on Stria Lithium's acquisition of the Romer Property?

Stria Lithium has reported that the independent Geological Report is expected to be delivered soon, which is critical for the proposed acquisition of the Romer Property.

What is the stock symbol for Stria Lithium?

The stock symbol for Stria Lithium is SRCAF.

When was the proposed transaction for the Romer Property first announced?

The proposed transaction for the Romer Property was initially announced in early March 2022.

What is Stria Lithium's primary business focus?

Stria Lithium focuses on mineral exploration, particularly in lithium, and owns the Pontax spodumene lithium project in Northern Quebec.

Why is lithium important in today's market?

Lithium is essential for manufacturing Lithium-ion batteries, which are crucial for electric vehicles and energy storage systems, making it a vital commodity in the fight against climate change.