Stria Lithium Inc. — Capital/Financing Update 2021

Jun 25, 2021

STRIA LITHIUM INC. 945 Princess Street Kingston K7L 0E9

MATERIAL CHANGE REPORT

Item 1. Name and Address of Company

The name of the reporting issuer is Stria Lithium Inc. (the “ Issuer " or “ Stria ”). Its head office is located at 945 Princess Street, Kingston K7L 0E9.

Item 2. Date of Material Change

The material change occurred on June 24, 2021.

Item 3. News Release

The Issuer disseminated a news release via ACCESSWIRE on June 24, 2021 and filed the news releases on SEDAR on June 24, 2021.

Item 4. Summary of Material Changes

On June 24, 2021, the Issuer announced it had closed a shares a private placement of 52,000,000 units for aggregate gross proceeds of $1,300,000.

Item 5. Full Description of Material Changes

On June 24, 2021, the Issuer announced it closed its previously announced non-brokered private placement (the “Offering”) for total aggregate gross proceeds of $1,300,000. Pursuant to the Offering, the Company issued 52,000,000 units (the “Units”) at a price of $0.025 per Unit. Each Unit consists of 1 common share and 1 common share purchase warrant (the “Warrant”). Each Warrant is exercisable into common shares (the “Warrant Share”) at a price of $0.05 per Warrant Share until June 24, 2023.

In connection with the closing of the Offering, the Company paid cash finder's fees totaling $12,000 and issued 480,000 non-transferable finder’s warrants (the “Finders Warrants”). Each Finders Warrant entitles the holder to acquire one (1) common share of the Company at a price of $0.05 per common share until June 24, 2023.

The securities issued in connection with the Offering are subject to a four-month and one day hold period expiring October 25, 2021.

Two insiders of the Company participated in the Offering and subscribed for an aggregate of 7,000,000 Units representing an aggregate amount of $175,000. Participation of insiders of the Company in the Offering constitutes a "related party transaction" as defined under Multilateral Instrument 61-101 Protection of Minority Security Holders in Special Transactions ("61-101").

The Offering is exempt from the formal valuation and minority shareholder approval requirements of 61-101 as neither the fair market value of securities being issued to insiders nor the consideration being paid by insiders will exceed 25% of the Company's market capitalization. The Company did not file a material change report 21 days prior to the closing of the Offering as the details of the participation of insiders of the Company had not been confirmed at that time.

Item 6. Reliance on Subsection 7.1(2) of National Instrument 51-102 Information

The Issuer is not relying on sub-section 7.1(2) of National Instrument 51-102 or the equivalent provisions of the securities legislation in other jurisdictions governing the Issuer for the filing of this report.

Item 7. Omitted Information

No information has been omitted.

Item 8. Executive Officers

For further information, please contact Scott Anderson, of Investors Relations of the Issuer, at (858) 229-7063 or sanderson@nextcap-ir.com; or Judith Mazvihwa-MacLean, CFO of the Issuer, at (613) 581-4040 or jmazvihwa@grafoid.com.

Item 9. Date of Report

DATED at Ottawa, Ontario this 24[th] day of June, 2021.