(TheNewswire)
VANCOUVER, BC – August 14, 2024 – TheNewswire – One World Lithium Inc. (CSE-OWLI) (OTCQB-OWRDF) (the “Company” or “OWL”)announces that further to its June 14, 2024, news release, it now has completed a first tranche (the “First Tranche”) of its non-brokered private placement (the “Offering”). Under the First Tranche, the Company has issued 9,231,835 Units for gross proceeds of $276,955. All securities issued are subject to a four (4) month and one day hold period, from the closing of the Offering in accordance with applicable securities laws and the policies of the Canadian Securities Exchange.
The First Tranche comprises the initial portion of the Offering, which is hereby extended, under which OWL is offering up to 16,666,666 units at a price of $0.03 per unit for gross proceeds of $500,000. Each Unit will consist of one common share of the Company (each, a “Common Share”) and one non-transferable Common Share purchase warrant (each, a “Warrant”). Each Warrant will entitle the holder thereof to purchase one Common Share at a price of $0.06 for a period of 36 months from the closing of the Offering. All funds are stated in Canadian dollars.
There is no minimum number of Units or minimum aggregate proceeds required to close the Offering.
There is no material fact or material change of the Company that has not been generally disclosed.
None of the securities issued in connection with the Offering will be registered under the United States Securities Act of 1933, as amended (the “1933 Act”), and none of them may be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the 1933 Act. This news release shall not constitute an offer to sell or a solicitation of an offer to buy nor shall there by any sale of the securities in any state where such offer, solicitation, or sale would be unlawful.
About One World Lithium
One World Lithium Inc. remains focused on properties of merit that may contain lithium. The Company is also focused on commercial application of its separation technologies for natural brine and for slurries made from clay, pegmatite, volcanic rock and sediment. OWL intends to license or joint venture its technologies to current and future lithium carbonate producers. For more information, visit: https://oneworldlithium.com/.
On behalf of the Board of Directors of One World Lithium Inc.,
“Douglas Fulcher”
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: 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, but not limited to: (I) OWL’s ability to raise any additional funds from its Offerring, (II) the ability of the OWL’s separation technologies and further research and development, to change the lithium extraction industry, and (III) OWL’s ability to commercialize its separation technologies. 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. 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)) the inability of OWL to commercialize its separation technologies (II) OWL’s inability to execute its business plan and raise any required financing, (III) risks and market fluctuations common to the mining industry and lithium sector in particular, and (IV) advancements in other new separation technologies. 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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