(TheNewswire)
VANCOUVER, BC – TheNewswire - December 22, 2022 - One World Lithium Inc.(CSE:OWLI) (OTC:OWRDF) (the “Company”) (“OWL”) ispleased to announce it has closed its previously announcednon-brokered private placement of up to 12,000,000 units (each, a“ Unit ”) at a price of $0.05 per Unit for gross proceeds of up to$600,000. (the “ Offering ”). On closing the Company issued14,581,220 Units for gross proceeds of $729,061. The Offering wasoversubscribed by 22%.
Each Unit consists of one common share of the Company(a “ Common Share ”) and one full non-transferable Common Share purchasewarrant (a “ Warrant ”). Each Warrant will entitle theholder to purchase one Common Share at a price of $0.08 for a periodof 36 months from the closing of the Offering. All securities are subject to a four month and one day holdfrom the closing date.
The net proceeds of the Offering will be used primarilyfor on going lab testing of the Company’sCritical Fluid Separation Technology, continued property expansion andthe balance for working capital.
About One World Lithium Inc.
One World Lithium Inc. remains focused on properties ofmerit that may contain lithium carbonate in a brine. The Company isalso focused on commercial application of the DOE’s separationtechnology. OWL intends to license or joint venture its technology tocurrent and future lithium carbonate producers. For more information,visit: https://oneworldlithium.com/ .
On behalf of the Board of Directors of OneWorld Lithium Inc.,
“DouglasFulcher”
President and Chief Executive Officer
For further information please visit www.oneworldlithium.com or email info@oneworldlithium.com
or call 1-604-564-2017 Extension-3.
Forward-Looking Information: Thispress release may include forward looking information within themeaning of Canadian securities legislation. Forward lookinginformation is based on certain key expectations and assumptions madeby the management of the OWL, including any statements regardingbeliefs, plans, expectations or intentions regarding the future,including, but not limited to: the OWL’s ability to close theOffering and, in connection therewith, receive the necessary,corporate, shareholder, or regulatory approvals, as applicable; theavailability of certain prospectus exemptions to potential investorsas stated herein; and the intention of OWL to proceed with theadvancement of lithium properties and the DOE’s new criticalseparation technology and intent to license or joint venture thetechnology to current and future lithium carbonate producers. AlthoughOWL believes that the expectations and assumptions on which suchforward looking information is based are reasonable, undue relianceshould not be placed on the forward-looking information because OWLcan give no assurance that they will prove to be correct. Forwardlooking statements contained in this press release are made as of thedate of this press release. OWL disclaims any intent or obligation toupdate publicly any forward-looking information, whether as a resultof new information, future events or results or otherwise, other thanas required by applicable securities laws. There can be no assurancethat such statements will prove to be accurate and actual results andfuture events could differ materially from the those anticipated insuch statements. Accordingly, important factors that could causeactual results to differ materially from the Company’s expectationsincluding, but not limited to: (I) OWL’s inability to execute itsbusiness plan and raise funds to close the Offering; (II) OWL’sinability to prove-up and commercialize the DOE/NETL patent andseparation technology; (III) risks and market fluctuations common tothe mining industry and lithium sector in particular; (IV) advancementin new separation technologies; and (v) other risks outside the directcontrol of OWL. The ongoing conflict between Russian and the Ukrainealso poses continuing risks that are currently indescribable andimmeasurable. The reader is cautioned that assumptions used in thepreparation of any forward-looking information may prove to beincorrect and is advised not to place undue reliance on anyforward-looking information contained in this press release.
Neither theCanadian Securities Exchange nor its Market Regulator (as that term isdefined in the policies of the Canadian Securities Exchange) acceptsresponsibility for the adequacy or accuracy of this release.
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