(TheNewswire)
Vancouver, BC – October 20, 2023 -One World Lithium Inc. (CSE:OWLI) (OTC:OWRDF) (the “Company” or“OWL”) announces further to its firsttranche closing of $124,800 on September 14, 2023 of its non-brokered private placement the Company is continuing withits offering of 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 more tranches. Each Unit will consist of one common share ofthe Company (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. All funds are stated in Canadian dollars. For further detailson the non-brokered private placement see the Company’s news releasedated September 06, 2023.
The Company is also pleased to announce it has closedan unsecured term loan (the “ Term Loan ”) in the amount of CAD $15,000with bonus warrants. The Term Loan matures on January 31, 2024, andhas an interest rate of 8% per annum. The bonus warrants consist of300,000 share purchase warrants which will entitle the holder thereofto purchase 300,000 Common Shares of the Company at a price of $0.05for period of 24 months from the closing of the Term Loan. Theproceeds willing be used to fund a bench test for the Company’sDirect Lithium Extraction Technology which will be a proof of conceptincluding demonstration pictures of the formation of lithiumcarbonate.
About One World Lithium Inc.
One World Lithium Inc. remains focused on properties ofmerit that may contain lithium in brine. The Company is also focusedon commercial application of its Direct Lithium Extraction Technology.OWL intends to license or joint venture its technology to current andfuture 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 informationplease 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 Offering, (II) the ability ofthe OWL to further its R&D, to change the lithium extractionindustry, and (III) OWL’s abilities to commercialize its DirectLithium Extraction (“DLE”) technology. Although OWL believes thatthe 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. There can be noassurance that such statements will prove to be accurate and actualresults and future events could differ materially from the thoseanticipated in such statements, important factors that could cause actual results todiffer materially from the company’s expectations include: (I)inability of OWL to commercialize its DLE technology (II) OWL’sinability to execute its business plan and raise any requiredfinancing, (III) risks and market fluctuations common to the miningindustry and lithium sector in particular, and (IV) 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.
NOT FORDISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATIONIN THE UNITED STATES
Copyright (c) 2023 TheNewswire - All rights reserved.