VANCOUVER, December 22, 2022 - One World Lithium Inc. (CSE:OWLI) (OTC:OWRDF) (the "Company") ("OWL") is pleased to announce it has closed its previously announced non-brokered private placement of up to 12,000,000 units (each, a "Unit") at a price of $0.05 per Unit for gross proceeds of up to $600,000. (the "Offering"). On closing the Company issued 14,581,220 Units for gross proceeds of $729,061. The Offering was oversubscribed by 22%.
Each Unit consists of one common share of the Company (a "Common Share") and one full non-transferable Common Share purchase warrant (a "Warrant"). Each Warrant will entitle the holder to purchase one Common Share at a price of $0.08 for a period of 36 months from the closing of the Offering. All securities are subject to a four month and one day hold from the closing date.
The net proceeds of the Offering will be used primarily for on going lab testing of the Company's Critical Fluid Separation Technology, continued property expansion and the balance for working capital.
About One World Lithium Inc.
One World Lithium Inc. remains focused on properties of merit that may contain lithium carbonate in a brine. The Company is also focused on commercial application of the DOE's separation technology. OWL intends to license or joint venture its technology 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.,
President and Chief Executive Officer
For further information please visit www.oneworldlithium.com or email firstname.lastname@example.org
or call 1-604-564-2017 Extension-3.
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 any statements regarding beliefs, plans, expectations or intentions regarding the future, including, but not limited to: the OWL's ability to close the Offering and, in connection therewith, receive the necessary, corporate, shareholder, or regulatory approvals, as applicable; the availability of certain prospectus exemptions to potential investors as stated herein; and the intention of OWL to proceed with the advancement of lithium properties and the DOE's new critical separation technology and intent to license or joint venture the technology to current and future lithium carbonate producers. 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 publicly any forward-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. Accordingly, important factors that could cause actual results to differ materially from the Company's expectations including, but not limited to: (I) OWL's inability to execute its business plan and raise funds to close the Offering; (II) OWL's inability to prove-up and commercialize the DOE/NETL patent and separation technology; (III) risks and market fluctuations common to the mining industry and lithium sector in particular; (IV) advancement in new separation technologies; and (v) other risks outside the direct control of OWL. The ongoing conflict between Russian and the Ukraine also poses continuing risks that are currently indescribable and immeasurable. The reader is cautioned that assumptions used in the preparation of any forward-looking information may prove to be incorrect and is advised 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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