(TheNewswire)
Vancouver, BC – TheNewswire - March 13, 2024 - One World Lithium Inc. (OTCQB-OWRDF)(CSE-OWLI) (the “Company” or “ OWL”) is pleased toannounce a one year extension to March 1, 2025 of its Non-ExclusiveResearch and Evaluation License with Option (Patent) (the“License”) with the US Department of Energy’s (“DOE”)National Energy Technology Laboratory (“NETL”) for the DOE’sPatents titled Selective Lithium Recovery as Lithium Carbonate fromnatural brine.
Doug Fulcher, President and CEO, commented “We are pleased to havesigned a one year extension with NETL. The extension will allow OWLand NETL to evaluate commercial applications of the DOE’s two patents for Lithium Carbonate Extraction.”
OWL and MatterGreen LLC. (“ MG”) entered into a DefinitiveAgreement on September 28, 2023 whereby MG will assign two patentapplications for Lithium Carbonation, the first patent application isfor natural brines and the second is for slurries made from pegmatite,clay, volcanic rock and sediment After the assignment OWL will be thesole and exclusive owner of the patent applications (the "OWLPatent Applications”).
Under the Agreement MG will conduct and manage thedevelopment, testing and R&D laboratory work associated with thecommercialization of the DOE License and the OWL PatentApplications. MG will take two months to assemble itslaboratory. The work will be carried out in the Lab facilities inAlbany, Oregon.
In addition, MG states “By consuming carbon dioxide from industrialwaste streams and air in carbonation processing, the process canproduce carbon-neutral lithium carbonate for battery cathodemanufacturing, which would generate a premium on the market price.”
Stock Option Grant
The Company also announces it has granted incentive stock options to an advisor of the Company topurchase up to an aggregate of 1,000,000 common shares of the Company(the “Options ”). The Options are exercisable on or before March 13,2026, at a price of $0.05 per common share, being the minimum allowedclosing price of the Company’s common shares on the Canadian StockExchange on March 12, 2024. All Options are fully vested and weregranted in accordance with the Company’s Stock Option Plan.
About One World Lithium Inc.
One World Lithium Inc. remains focused on properties ofmerit that may contain lithium in brine. The Company is also focusedon commercial application of its Direct Lithium Extraction Technology.OWL intends to license or joint venture its technology to current andfuture lithium carbonate producers. For more information, visit: https://oneworldlithium.com/ .
On behalf of the Board of Directors of One WorldLithium Inc.,
“DouglasFulcher”
President and Chief Executive Officer
For further information please visit www.oneworldlithium.com or email info@oneworldlithium.com
or call 604-644-4359.
Forward-LookingInformation: This press release may include forward lookinginformation within the meaning of Canadian securities legislation.Forward looking information is based on certain key expectations andassumptions made by the management of the OWL, including, but not limited to OWL& MG’s collective abilities to commercialize the DOE Patents andMG’s Patent Applications. 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. 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 & MG to commercialize its DLE technology (II)OWL’s inability to execute its business plan and raise any requiredfinancing, (III) risks and market fluctuations common to the miningindustry and lithium sector in particular, and (IV) advancements inother new DLE technologies. The reader is cautioned that assumptions used inthe preparation of any forward-looking information may prove to beincorrect. Events or circumstances may cause actual results to differmaterially from those predicted, as a result of numerous known andunknown risks, uncertainties, and other factors, some of which arebeyond the control of the OWL. The reader is cautioned not to placeundue reliance on any forward-looking information contained in thispress 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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