(TheNewswire)
VANCOUVER, BC - TheNewswire - October 27, 2020 - One World LithiumInc. (OTC:OWRDF) (CSE:OWLI) (CNSX:OWLI.CN) (the"Company") ("OWL") announce s that West PeakVentures of Canada Ltd ("WPV") has assigned the proof ofconcept protocols to OWL who will then contract a private laboratoryto conduct a proof of concept program from a separation technologythesis. If the results are satisfactory it will have proven a newcritical fluid separation technology (the "Technology") toseparate pure lithium and other related elements from a brine solutionthat may have commercial applications.
The laboratory will have a chemical engineer with knownexpertise in separation technologies to both manage the program andverify the test results. It is estimating the program will takeapproximately three months at an estimated cost of CAD $ 100,000.There may be additional testing required that will increase the costs.
OWL will own 100% of the Technology to extract lithium from brine solutions ,own patents from the current program and patents in the future foreither extension of either the existing patents or the discovery newrelated technologies.
The parties have agreed to complete a formal agreementif the Technology is proven to have commercial applications. Such anagreement would include cash payments, issuance of common shares and aroyalty payment from OWL.
As announced in the news released of October 21, 2020,John Costigan, CEO of Cognitive Corporate Service("Cognitive") and Managing Partner of ECMB Capital PartnersInc. ("ECMB") have in depth knowledge of a variety oftechnologies including the lithium exploration and development sector.Cognitive will also advise OWL on marketing its products. Cognitiveand ECMB have successfully assisted mining, exploration and technologycompanies in raising over C$200 million over the last several years.John Costigan noted "subject to a proof of concept program, thisTechnology has the potential to be a game changer for current andfuture lithium brine producers."
About One World Lithium Inc.
One World Lithium Inc. is an exploration anddevelopment company focused on lithium in brine projects. It currentlyhas earned a 60% property interest with an option to acquire a further30% property interest for a total of a 90% property interest in the103,450 hectare (399 square mile) Salar del Diablo lithium brineproject located in the State of Baja California, Mexico.
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 1-604-564-2017 Extension-3
Forward-Looking Information: Thispress release may include forward looking information within themeaning of Canadian securities legislation. Forward lookinginformation in this press release includes statements about proving anew critical fluid separation technology to separate pure lithium frombrine solutions that may have commercial applications is based oncertain key expectations and assumptions made by the management of theOWL, including the intention of OWL to proceed with the Technology.Although OWL believes that the expectations and assumptions on whichsuch forward looking information is based are reasonable, unduereliance should not be placed on the forward-looking informationbecause OWL can give no assurance that they will prove to be correct.Forward looking statements contained in this press release are made asof the date of this press release. OWL disclaims any intent orobligation to update publically any forward-looking information,whether as a result of new information, future events or results orotherwise, other than as required by applicable securities laws. Therecan be no assurance that such statements will prove to be accurate andactual results and future events could differ materially from thethose anticipated in such statements, important factors that couldcause actual results to differ materially from the company'sexpectations include: (I) inability of OWL to execute its businessplan and raise the required financing (II) accuracy of mineral orresource exploration activity (III) continued access to mineralproperty and (IV) risks, and market fluctuations common to the miningindustry and lithium sector in particular (V) advancement in newtechnologies. The reader is cautioned that assumptions used in thepreparation of any forward-looking information may prove to beincorrect. Events or circumstances may cause actual results to differmaterially 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) 2020 TheNewswire - All rights reserved.