(TheNewswire)
Vancouver, BC - TheNewswire - September 6, 2023 - One World Lithium Inc. (CSE:OWLI) (OTC:OWRDF) (the “Company”or “OWL”) today announces a non-brokered private placement up to15,000,000 units (each, a “ Unit ”) of the Company at a price of $0.05per Unit for gross proceeds of up to $750,000 with (the“ Offering ”). All funds are stated in Canadian dollars.
Each Unit will consist of one common share of theCompany (each, a “ CommonShare ”) and one non-transferable Common Sharepurchase warrant (each, a “ Warrant ”). Each Warrant will entitle theholder thereof to purchase one Common Share at a price of $0.08 for aperiod of 36 months from the closing of the Offering.
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. Management anticipates that the Company will allocate thenet proceeds of the Offering as follows: continued property expansioncosts of approximately $75,000; on going lab testing of theCompany’s Critical Fluid Separation Technology costs ofapproximately $375,000; and the balance for working capital.
The Company may pay a finder’s fee in connection withthe Offering. Closing of the Offering is subject to a number ofconditions, including receipt of all necessary corporate andregulatory approvals. All securities issued in connection with theOffering will be subject to a statutory hold period of four monthsplus a day from the closing of the Offering in accordance withapplicable securities legislation.
A portion or all of the Offering may be completedpursuant to Multilateral CSA Notice 45-313 – Prospectus Exemption for Distributions toExisting Security Holders (“ CSA 45-313 ”) andthe corresponding blanket orders and rules implementing CSA 45-313 inthe participating jurisdictions in respect thereof (collectively withCSA 45-313, the “ ExistingSecurity Holder Exemption ”). As at the datehereof, the Existing Security Holder Exemption is available in each ofthe provinces of Canada, with the exception of Newfoundland andLabrador.
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 (“ 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 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.
Stock Option Grants
The Company also announces that is has grantedincentive stock options to three consultants ofthe Company to purchase up to an aggregate of 800,000 Common Shares ofthe Company (each, an “Option ”). The Options are exercisable onor before September 6, 2025 at a price $0.05 per Common Share and areall fully vested. All the Options were granted in accordance with theCompany’s Stock Option Plan.
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 any statements regardingbeliefs, plans, expectations or intentions regarding the future,including, but not limited to: the OWL’s ability to close theOffering and, in connection therewith, receive the necessary,corporate, shareholder, or regulatory approvals, as applicable; theavailability of certain prospectus exemptions to potential investorsas stated herein; and the intention of OWL to proceed with theadvancement of lithium properties and OWL’s new critical separationtechnology and intent to license or joint venture the technology tocurrent and future lithium carbonate producers. Although OWL believesthat the expectations and assumptions on which such forward lookinginformation is based are reasonable, undue reliance should not beplaced on the forward-looking information because OWL can give noassurance 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 that such statements will proveto be accurate and actual results and future events could differmaterially from the those anticipated in such statements. Accordingly,important factors that could cause actual results to differ materiallyfrom the Company’s expectations including, but not limited to: (I)OWL’s inability to execute its business plan and raise funds toclose the Offering; (II) OWL’s inability to prove-up andcommercialize it’s separation technology; (III) risks and marketfluctuations common to the mining industry and lithium sector inparticular; (IV) advancement in new separation technologies; and (v)other risks outside the direct control of OWL. The ongoing conflictbetween Russian and the Ukraine also poses continuing risks that arecurrently indescribable and immeasurable. The reader is cautioned thatassumptions used in the preparation of any forward-looking informationmay prove to be incorrect and is advised not to place undue relianceon any forward-looking information contained in this pressrelease.
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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