(TheNewswire)
Vancouver, BC - TheNewswire - September 14, 2023 - One World Lithium Inc. (CSE:OWLI) (OTC:OWRDF) (th e “Company” or “OWL”) announces that ishas closed a first tranche of its non-brokeredprivate placement up to 15,000,000 units (each,a “ Unit ”) of the Company at a price of $0.05 per Unit for grossproceeds of up to $750,000 that may close in one or more tranches.(the “ Offering ”). Each Unit will consist of onecommon share of the Company (each, a “ Common Share ”) andone non-transferable Common Share purchase warrant (each, a“ Warrant ”). Each Warrant will entitle the holder thereof topurchase one Common Share at a price of $0.08 for a period of 36months from the closing of the Offering. Allfunds are stated in Canadian dollars.
On the first tranche closing the Company issued2,496,000 Units for gross proceeds of $124,800. The net proceeds areintended to be used primarily for funding working capital.
There is no minimum number of Units or minimumaggregate proceeds required to close the Offering and the Company may,at its discretion, elect to close the Offering in one or moreclosings.
The closing of subsequent tranches of the Offering maybe completed pursuant to Multilateral CSA Notice 45-313 – Prospectus Exemption forDistributions 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 and Labrador.
Subject to applicable securities laws, the Company willpermit each person or company who, as of September 6, 2023 (being therecord date set by the Company pursuant to CSA 45-313), who holdsCommon Shares 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 theOffering.
In addition to the Existing Security Holder Exemption,a portion or all of the Offering may be completed pursuant toMultilateral CSA Notice 45-318 – Prospectus Exemption for CertainDistributions through an Investment Dealer (“ CSA 45-318 ”) and the corresponding blanket orders and ruleimplementing CSA 45- 318 in the participating jurisdictions in respectthereof (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 generally 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 releaseshall not constitute an offer to sell or a solicitation of an offer tobuy nor shall there by any sale of the securities in any state wheresuch offer, solicitation, or sale would be unlawful.
Doug Fulcher, President and CEO noted “Our Companyremains focused on its negotiations with MatterGreen LLC to completethe Assignment of two separate divisional patentapplications for Lithium Carbonation that is a lithium extractiontechnology using an advanced carbon dioxide injectionprocess. ”
About One World Lithium
One World Lithium Inc. remains focused on properties ofmerit that may contain lithium in brine. The Company is also focusedon commercial application of its separation technology. OWL intends tolicense or joint venture its technology to current and future lithiumcarbonate 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 1-888-280-8128
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 , but not limited to: (I) OWL’s abilityto raise any additional funds from its Offerring, (II) the entry intoof the Definitive Agreement and timing thereof, (III) the ability ofthe OWL Divisions, following the Assignment and further R&D, tochange the lithium extraction industry, and (III) OWL’s and MG’scollective abilities to commercialize the OWL Divisionals 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.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 thatcould cause actual results todiffer materially from the company’s expectations include: (I)inability of OWL and MG to agree upon the essential terms for theAssignment and, as a result, the Definitive Agreement, (II) theinability of OWL and MG to commercialize the OWL Provisions; and (III)OWL’s inability to execute its business plan and raise any requiredfinancing, (IV) risks and market fluctuations common to the miningindustry and lithium sector in particular, and (V) advancements inother new separation technologies. The reader is cautioned that assumptionsused in the preparation of any forward-looking information may proveto be incorrect. Events or circumstances may cause actual results todiffer materially from those predicted, as a result of numerous knownand unknown 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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