(TheNewswire)
VANCOUVER, BC – TheNewswire - March 23, 2022 - One World Lithium Inc. (OTC:OWRDF)(CSE:OWLI) (the “Company” or “OWL”) announces signing a Non-Exclusive Research and Evaluation License withOption (Patent) (the “License”) with the US Department ofEnergy’s (“DOE”) National Energy Technology Laboratory(“NETL”) for the DOE’s Patents titled Selective Lithium Recoveryas Lithium Carbonate from Natural Brine and any patents stemmingtherefrom. (the “Licensed Inventions”).
The Agreement allows OWL to research and commerciallyevaluate the Licensed Inventions. The initial Option Period is for oneyear from March 02, 2022 with extensions available for an additionalperiod of time. During the Option Period OWL may enter negotiationsfor an exclusive license within the agreed field of use which arenaturally occurring brines with the exception of sea water andgeothermal brines. Brines produced as a co-product, by-product, orwaste stream from industrial practices or energyproduction/development processes are also excluded from the field ofuse. These include but are not limited to brines produced fromindustrial practices such as oil & gas production, carbonsequestration, enhanced oil recovery, and coal bed methane recovery. Also excluded are brines produced from legacy industrial or energydevelopment practices, such as abandoned mine land (AML)-relatedbrines.
The DOE patent is an advanced direct lithium extraction(DLE) process for the extraction of lithium from natural brines,rapidly generating lithium carbonate. The method uses unique carboninjection-mixing techniques to directly precipitate lithium carbonatein brines. This process requires no solvent, electrodes, andmembranes, but only uses carbon dioxide which can be sourced fromindustrial waste streams or ambient air. It significantly reducescapital and operation costs, process time, energy requirements, andoverall carbon dioxide emissions. The process is fully operationalat the brine source, eliminating transportation of brines to achemical processing facility to form lithium carbonate. Deployment ofthis technology will reduce dependence on foreign lithiumsources.
Doug Fulcher, the Company’s CEO noted, “thislicense agreement will allow OWL to work closely with the DOE whichmay enhance the Company’s ability to find lithium properties ofmerit that may benefit from using the Company’s commercializedSeparation Technology from DOE and NETL”.
About One World Lithium Inc.
OWL remains focused on properties of merit that maycontain lithium carbonate in a brine. The Company is also focused oncommercial application of the DOE’s Separation Technology. OWLintends to license or joint venture its technology to current andfuture lithium carbonate producers.
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 is based on certain key expectations and assumptions madeby the management of the OWL, including the intention of OWL toproceed with the advancement of properties and the new criticalseparation technology. 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-looking information because OWL cangive no assurance that they will prove to be correct. Forward lookingstatements contained in this press release are made as of the date ofthis press release. OWL disclaims any intent or obligation to updatepublicly any forward-looking information, whether as a result of newinformation, future events or results or otherwise, other than asrequired by applicable securities laws. There can be no assurance thatsuch statements will prove to be accurate and actual results andfuture events could differ materially from the those anticipated insuch 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 properties; (IV) risks and marketfluctuations common to the mining industry and lithium sector inparticular; and (V) advancement 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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