Stria Lithium Provides Update on Proposed Purchase of Romer Property
Stria Lithium Inc. has provided an update regarding the proposed purchase of the Romer Property from Braille Energy Systems Inc. The company received conditional approval from the TSX Venture Exchange on March 17, 2022, pending the delivery of an independent Geological Report and a final executed acquisition agreement. Braille must also obtain disinterested shareholder approval at their meeting scheduled for May 19, 2022. IOS Services Géoscientifiques has been engaged for the geological report as both companies work towards finalizing the definitive agreement.
- Conditional approval from TSX Venture Exchange received for the Proposed Transaction.
- Engagement of IOS Services Géoscientifiques for an independent Geological Report indicates progress.
- Final approval is contingent on multiple conditions, including external approvals.
- Approval from Braille's disinterested shareholders is necessary, adding uncertainty.
OTTAWA, ON / ACCESSWIRE / April 5, 2022 / Stria Lithium Inc. ("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. ("Braille") previously announced in its March 4, 2022 news release (the "Proposed Transaction").
Stria received conditional approval of the Proposed Transaction from the TSX Venture Exchange (the "Exchange") on March 17, 2022. Conditions necessary for the Exchange's final approval include delivery to the Exchange of an independent Geological Report of the Property and a copy of the final executed acquisition agreement. Braille must obtain disinterested shareholder approval of the Proposed Transaction.
Both Braille and Stria continue to work towards completing and executing a definitive agreement of purchase and sale of the Property. IOS Services Géoscientifiques has been engaged to complete an independent Geological Report. Braille will ask disinterested shareholders for approval of the Proposed Transaction at its annual and special meeting schedule for May 19, 2022.
About Braille Energy Systems Inc.
Braille Energy Systems Inc. holds an
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.
For additional information about BESI and Braille Battery products, please visit our website at: www.brailleenergysystemsinc.com or www.braillebattery.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 Braille Energy Systems 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.
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FAQ
What is the latest update on Stria Lithium's purchase of the Romer Property?
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