Brief: Stria Lithium Announces Reverse Takeover With Grafoid Inc

Stria Lithium

28/09/2020 20:32

Sept 28 (Reuters) - Stria Lithium Inc  SRA.V :
    * STRIA LITHIUM ANNOUNCES REVERSE TAKEOVER WITH GRAFOID INC.
AND
ANNOUNCES CHANGES TO EXECUTIVE LEADERSHIP TEAM AND BOARD OF
DIRECTORS
    * STRIA LITHIUM INC - ANTICIPATED THAT BOARD OF DIRECTORS OF
STRIA
SHALL BE RE-STRUCTURED TO CONSIST OF UP TO 10 DIRECTORS
    * STRIA LITHIUM INC - JEFFREY YORK, CHAIRMAN OF BOARD OF CO,
WILL
ACT AS INTERIM CEO AND PRESIDENT UNTIL CLOSE OF TRANSACTION
    * STRIA LITHIUM INC - RESIGNATIONS OF GARY ECONOMO AND
LINDSAY
WEATHERDON FROM ITS BOARD OF DIRECTORS EFFECTIVE SEPTEMBER 24
    * STRIA LITHIUM INC - GARY ECONOMO HAS ALSO RESIGNED AS
PRESIDENT
AND CEO OF STRIA
    * STRIA LITHIUM INC - NAME OF CORP WILL BE CHANGED IN DUE
COURSE
TO A NAME THAT BOTH PARTIES AGREE TO
    * STRIA LITHIUM INC - CONCURRENT WITH DEAL CLOSE, CO WILL
COMPLETE
AN EQUITY FINANCING OF RESULTING ISSUER SHARES ON A POST-SHARE
CONSOLIDATION BASIS
    * STRIA LITHIUM INC - 6 OF RESTRUCTURED BOARD MEMBERS SHALL
BE A
NOMINEE OF GRAFOID
    * STRIA LITHIUM INC -PRIOR TO DEAL CLOSE, WILL SETTLE AN
OUTSTANDING DEBT TOTALLING $500,000 BY WAY OF A SHARES-FOR-DEBT
TRANSACTION
    * STRIA LITHIUM INC - PRIOR TO DEAL CLOSE, WILL COMPLETE A
25-FOR-1 SHARE CONSOLIDATION OF STRIA SHARES

Source text for Eikon:  urn:newsml:reuters.com:*:nGNXc4Q01D
Further company coverage:  SRA.V 

 ((Reuters.Briefs@thomsonreuters.com;))