(TheNewswire)
VANCOUVER, BC - TheNewswire – November 04, 2021 - One World LithiumInc. (CSE:OWLI) (OTC:OWRDF) (CNSX:OWLI.CN) (the“Company”) (“OWL”) announces that it has closed a first tranche ofits non-brokered private placement of up to30,000,000 units (each, a “ Unit ”) at a price of $0.06 per Unit forgross proceeds of up to $1,800,000 that may close in one or moretranches. (the “ Offering ”). Each Unitconsists of one common share of the Company (a “ Common Share ”) andone full non-transferable Common Share purchase warrant (each wholewarrant, a “ Warrant ”). Each Warrant will entitle theholder to purchase one Common Share at a price of $0.12 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.
On the first tranche closing the Company issued12,753,677 Units for gross proceeds of $765,221. The net proceeds areintended to be used primarily for funding the Salar Del Diabloexploration programs as well as for the initial start up for theCompany’s separation technology testing and working capital.
There is no minimum number of Units or minimumaggregate proceeds required to close the balance of the Offering andthe Company may, at its discretion, elect to close the balance of theOffering in one or more tranches.
The closing of subsequent tranches of the Offering maybe completed pursuant to Multilateral CSA Notice 45-313 – ProspectusExemption for Distributions to Existing Security Holders(“ CSA 45-313 ”) and the corresponding blanket orders and rulesimplementing CSA 45-313 in the participating jurisdictions in respectthereof (collectively with CSA 45-313, the “ Existing Security HolderExemption ”). As at the date hereof, theExisting Security Holder Exemption is available in each of theprovinces of Canada, with the exception of Newfoundland andLabrador.
Subject to applicable securities laws, the Company willpermit each person or company who, as of May 4, 2021 (being the recorddate set by the Company pursuant to CSA 45-313), who holds commonshares as of that date to subscribe for the Units that will bedistributed pursuant to the Offering, provided that the ExistingSecurity Holder Exemption is available to such person or company.Qualifying shareholders who wish to participate in the Offering shouldcontact the Company at the contact information set forth below. In theevent that aggregate subscriptions for Units under the Offering exceedthe maximum number of securities to be distributed, then Units will besold to qualifying subscribers on a pro rata basis based on the numberof Units subscribed for. Insiders may participate in the Offering.
In addition to the Existing Security Holder Exemption,a portion or all the Offering may be completed pursuant toMultilateral CSA Notice 45-318 – Prospectus Exemption for CertainDistributions through an Investment
Dealer (“ CSA45-318 ”) and the corresponding blanket ordersand rule implementing CSA 45- 318 in the participating jurisdictionsin respect thereof (collectively with CSA 45-318, the “ Investment Dealer Exemption ”). As at the date hereof, the Investment Dealer Exemptionis available in each of Alberta, British Columbia, Saskatchewan,Manitoba and New Brunswick. Pursuant to CSA 45-318, each subscriberrelying on the Investment Dealer Exemption must obtain adviceregarding the suitability of the investment from a registeredinvestment dealer.
There is no material fact or material change of theCompany that has not been disclosed.
In addition to conducting the Offering pursuant to theExisting Security Holder Exemption and the Investment DealerExemption, the Offering will also be conducted pursuant to otheravailable prospectus exemptions.
None of the securities issued in connection with theOffering will be registered under the United States Securities Act of1933, as amended (the “ 1933Act ”), and none of them may be offered or soldin the United States absent registration or an applicable exemptionfrom the registration requirements of the 1933 Act. This news release shall not constitute an offer to sell or asolicitation of an offer to buy nor shall there by any sale of thesecurities in any state where such offer, solicitation, or sale wouldbe unlawful.
Drilling Update
As previously announced on October 19, 2021, boreholesamples from DDH-1, 2, 3 & 4 were sent to the ALS preparationlaboratory in Hermosillo, Mexico. Subsequently, the samples were sentto ALS laboratory In Vancouver BC for assaying and the assay resultswill then be sent to the Operator, Montgomery & Associates forinterpretation and recommendations. The results and recommendationswill all be released on receipt that are expected during the month ofDecember 2021.
Doug Fulcher, President and CEO noted “Our Companyremains focused on lithium brine prospects and critical lithiumseparation technologies. The proceeds from this closing will allow theCompany to advance both initiatives”.
About One World Lithium Inc.
One World Lithium Inc. is an exploration anddevelopment company focused on lithium in brine projects and newlithium separation technologies. It currently has earned a 60%property interest in the Salar del Diablo property. On completing thesouthern drill program, OWL will earn an additional 20% propertyinterest and has an option to purchase a further 10% property interestfor a total of a 90% property interest in the 103,450 hectare (399square mile) Salar del Diablo Lithium Brine project located in theState of Baja California, Mexico.
O n behalf of the Board ofDirectors of One World Lithium Inc.
“DouglasFulcher”
President and Chief Executive Officer
For further information please visit www.oneworldlithium.com or email info@oneworldlithium.com or call1-604-564-2017 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 the intention of OWL toproceed with the advancement of the Property or with the SeparationTechnology. Although OWL believes that the expectations andassumptions on which such forward looking information is based arereasonable, undue reliance should not be placed on the forward-lookinginformation because OWL can give no assurance that they will prove tobe correct. Forward looking statements contained in this press releaseare made as of the date of this press release. OWL disclaims anyintent or obligation to update publically any forward-lookinginformation, whether as a result of new information, future events orresults or otherwise, other than as required by applicable securitieslaws. There can be no assurance that such statements will prove to beaccurate and actual results and future events could differ materiallyfrom the those anticipated in such statements, 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.
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