(TheNewswire)
VANCOUVER, BC – TheNewswire - May 02, 2022 - One World Lithium Inc. (OTC: OWRDF ) (CSE: OWLI ) (CNSX:OWLI.CN) (the “ Company ” or“ OWL ”), announces that due to the recentpoor drilling results on its Salar del Diablo Property (the “Property ”) located in the State of Baja California, Mexico (Foradditional details see Company’s press Release dated January 4,2022) the Company has terminated its Letter of Intent with EnergyMetals Discover Group (“ EMDG ”). Under the Termination Agreementswith EMDG the Company has conveyed all of its right, title and earnedinterest in the Property. All the Parties agreed to release each otherfrom any and all claims that they may have against each other to dateand the Company would have no further rights title and earned interestin the Property.
As well, the Company has terminated its Share PurchaseAgreement with Stand Up Investments Ltd. (“SUI”) and aThird Party. Under this Termination Agreement all Parties have agreedto release each other from any and all claims that they may haveagainst each other and the Company has no further payments or shareissuances to the former and original shareholders except a $25,000termination fee that is due no later than December 31, 2022, by way ofa Promissory note bearing simple six (6) percent interest dated April29, 2021.
About One World Lithium Inc.
One World Lithium Inc. remains focused on properties ofmerit that may contain lithium carbonate in a brine. The Company isalso focused on commercial application of the DOE’s separationtechnology. OWL intends to license or joint venture its technology tocurrent and future 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 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 any statements regardingbeliefs, plans, expectations or intentions regarding the future,including, but not limited to: the intention of OWL to proceed withthe advancement of lithium properties and the DOE’s 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-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 publicly 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. Accordingly, important factors that could cause actual results to differmaterially from the Company’s expectations including, but notlimited to: (I) OWL’s inability to execute its business plan andraise the required financing; (II) OWL’s inability to prove-up andcommercialize the NETL patent and separation technology; (III) risksand market fluctuations common to the mining industry and lithiumsector in particular; (IV) advancement in new separation technologies;and (v) other risks outsidethe direct control of OWL. The novel strain of coronavirus, COVID-19,and continuing conflict between Russian and the Ukraine also posescontinuing risks that are currently indescribable and immeasurable.The reader is cautioned that assumptions used in the preparation ofany forward-looking information may prove to be incorrect and isadvised not to place undue reliance on any forward-looking informationcontained 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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