(TheNewswire)
VANCOUVER, BC - TheNewswire - May 05, 2021 - One World Lithium Inc.(C NSX: OWLI. CN ) (OTC:OWRDF) (the“Company”) (“OWL”) The Company is pleased to announceit has signed a consulting agreement with FnMedia AG ( the “Consultant” ) on May 04, 2021. FnMediawill consult on business development in Europe that may includeindividual introductions and corporate presentations. The Consultantwill also expand its knowledge by including Alphabullz, a subsidiarygroup that is well established in both Europe and Asia. Alphabullz isfamiliar with the lithium industry and in particular exploration anddevelopment of lithium-brine salars and technologies that separatelithium carbonate from a brine.
The Agreement is for one year to May 04, 2022. TheConsultant will be paid a monthly fee of 5,000 Euros ($7,400 CAD)and an option to purchase up to 800,000 common shares of the Companyat an exercise price of $0.11 per common share, being the closing price of the Company’s common shares onthe Canadian Stock Exchange on May 4, 2021. Thestock options are exercisable on or before May 04, 2023 and will bevested as to 200,000 options every two months from June 01 to December01, 2021. All Stock Options were granted inaccordance with the Company's stock option plan.
The Consultant believes the timing is right toreview junior lithium companies that have promise in lithium-brineprospects as well as technologies that may separate lithium carbonatefrom a brine.
As previously reported on May 04, 2021, if OWL’scurrent non brokered private placement offering is fully subscribedfor $2,000,000, then the Company intends to spend approximately$750,000 on both further exploration on its lithium- brine propertyand the advancement of a critical fluid separation technology with theremaining $ 500,000 in working capital.
Doug Fulcher, President and CEO stated “Our Companyis pleased to be consulting with FnMedia and Alphabullz this year andin particular their experience in both Europe and Asia. It is idealtiming as our Company is preparing for a successful year in exploringfor lithium-brine prospects but also possibly being at the forefrontof lithium separation technologies.”
The Company also announces that it has grantedincentive stock options to another consultant of the Company topurchase up to an aggregate of 400,000 common shares of the Company. The Stock Options are fully vested andexercisable on or before May 05, 2023, at a price of $0.11 pershare, being theclosing price of the Company’s common shares on the Canadian StockExchange on May 4, 2021. All Stock Options weregranted in accordance with the Company's stock option plan.
About One World Lithium Inc.
One World Lithium Inc. is an exploration companyfocused on lithium in brine projects and new lithium separationtechnologies. OWL has the right to own 100% of the separationtechnology, subject to a positive proof of concept program. OWL hasearned a 60% property interest in the Salar del Diablo property. Oncompleting the Phase three drill program, OWL will earn an additional20% property interest and has an option
to purchase a further 10% property interest for a totalof a 90% property interest in the 103,450 hectare (399 square mile)Salar del Diablo Lithium Brine project located in the State of BajaCalifornia, Mexico.
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 1-604-564-2017Extension-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 the intention of OWL toproceed with the advancement of the property or with the advancementof the separation technology. Although OWL believes that theexpectations and assumptions on which such forward looking informationis based are reasonable, undue reliance should not be placed on theforward-looking information because OWL can give no assurance thatthey will prove to be correct. Forward looking statements contained inthis press release are made as of the date of this press release. OWLdisclaims any intent or obligation to update publically anyforward-looking information, whether as a result of new information,future events or results or otherwise, other than as required byapplicable securities laws. There can be no assurance that suchstatements will prove to be accurate and actual results and futureevents could differ materially from the those anticipated in suchstatements, important factors that could cause actual results todiffer materially from the company’s expectations include: (I)inability of OWL to execute its business plan and raise the requiredfinancing (II) accuracy of mineral or resource exploration activity(III) continued access to mineral property (IV) risks and marketfluctuations common to the mining industry and lithium sector inparticular and (V) advancements in new separation technologies. Thereader is cautioned that assumptions used in the preparation of anyforward-looking information may prove to be incorrect. Events orcircumstances may cause actual results to differ materially from thosepredicted, as a result of numerous known and unknown risks,uncertainties, and other factors, some of which are beyond the controlof the OWL. The reader is cautioned not to place undue reliance on anyforward-looking information contained in this press release.
Neither the Canadian SecuritiesExchange nor its Market Regulator (as that term is defined in thepolicies of the Canadian Securities Exchange) accepts responsibilityfor the adequacy or accuracy of this release.
Copyright (c) 2021 TheNewswire - All rights reserved.