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Vancouver, BC - TheNewswire - March 05, 2020 - One World Lithium Inc. (OTC:OWRDF) (CSE:OWLI) (CNSX:OWLI.CN) (the "Company" or "OWL") announces that effective on March 6, 2020 the Company will amend the terms (the "Amendment") of an aggregate of 14,501,233 outstanding common share purchase warrants (collectively, the "Warrants") previously issued by the Company as follows:
- 6,857,667 of these Warrants are currently exercisable to acquire common shares of the Company at a price of $0.20 until March 22, 2020. Under the Amendment, the exercise price of the Warrants will be reduced to $0.15 and the term of the Warrants will be extended by an additional twelve months (12) such that they will now be exercisable until March 22, 2021;
- 3,480,665 of these Warrants are currently exercisable to acquire common shares of the Company at a price of $0.20 until May 23, 2020. Under the Amendment, the exercise price of the Warrants will be reduced to $0.15 and the term of the Warrants will be extended by an additional twelve months (12) such that they will now be exercisable until May 23, 2021; and
- 4,162,901 of these Warrants are currently exercisable to acquire common shares of the Company at a price of $0.20 until November 08, 2020. Under the Amendment, the exercise price of the Warrants will be reduced to $0.15 and the term of the Warrants will be extended by an additional twelve months (12) such that they will now be exercisable until November 08, 2021.
All other warrant terms remain the same.
Appointment of New Director
The Company is please to announce the appointment of John N. Hamilton to the Board of Directors. This appointment follows the resignation of Mr. Andrew Pooler who is pursuing other business interests. The Board of Directors thanks Mr. Pooler for his valuable contributions to the Company and wishes him well in his future endeavours.
Mr. Hamilton is currently the Chief Financial Officer and Secretary of the Company. He obtained his CA from Ernst Young and has held the position of CFO, President and Director of a number of private and public companies. He has managed a number of companies that have been listed on the CSE, TSX, OTCQB and NASDAQ stock Exchanges. Mr. Hamilton has over 40 years of experience in financial and strategic planning and reporting requirements for public companies.
About One World Lithium Inc.
One World Lithium Inc. is an exploration company focused on lithium in brine projects. It currently has earned a 60% property interest with an option to acquire a further 30% property interest for a total of a 90% property
interest in the 103,430 hectare (399 square mile) Salar del Diablo lithium brine project located in the State of Baja California, Mexico.
On behalf of the Board of Directors of One World Lithium Inc.,
"Douglas Fulcher"
Douglas Fulcher, CEO and President
For further information please visit www.oneworldlithium.com or email info@oneworldlithium.com or call 1-888-280-8128.
Forward-Looking Information: This press release may include forward looking information within the meaning of Canadian securities legislation. Forward looking information is based on certain key expectations and assumptions made by the management of the OWL, including the intention of OWL to proceed with the advancement of the Property. Although OWL believes that the expectations and assumptions on which such forward looking information is based are reasonable, undue reliance should not be placed on the forward-looking information because OWL can give no assurance that they will prove to be correct. Forward looking statements contained in this press release are made as of the date of this press release. OWL disclaims any intent or obligation to update publically anyforward-looking information, whether as a result of new information, future events or results or otherwise, other than as required by applicable securities laws. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from the those anticipated in such statements, important factors that could cause actual results to differ materially from the company's expectations include: (I) inability of OWL to execute its business plan and raise the required financing (II) accuracy of mineral or resource exploration activity (III) continued access to mineral property and (IV) risks and market fluctuations common to the mining industry and lithium sector in particular. The reader is cautioned that assumptions used in the preparation of any forward-looking information may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted, as a result of numerous known and unknown risks, uncertainties, and other factors, some of which are beyond the control of the OWL. The reader is cautioned not to place undue reliance on any forward-looking information contained in this press release.
Neither the Canadian Securities Exchange nor its Market Regulator (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.
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