One World Lithium Announces Closing of Private Placement
VANCOUVER, BC - TheNewswire – August 11, 2020 - One World Lithium Inc. (OTCQB:OWRDF) (CSE:OWLI) (CNSX:OWLI.CN) (“OWL”) (the “Company”) announces that it has closed a portion of its non-brokered private placement (the “Offering”) as previously announced on April 23, 2020. The Company has raised $ 336,025 CAD through the issuance of 6,720,500 units (the “Unit”) at a price of $0.05 per unit.
Each Unit consists of one common share in the capital of the Company (a “Common Share”) and one non-transferable Common Share purchase warrant (a “Warrant”) (collectively the “Securities”). Each Warrant will entitle the holder thereof to acquire one Common Share, at a price of $0.10 per Common Share for a period of 36 months from the closing date. All Securities are subject to a four month and one day hold from the closing date.
Use of Proceeds
The net proceeds will be used primarily for funding part of the Salar del Diablo drilling program and working capital.
About One World Lithium Inc.
One World Lithium Inc. is an exploration and development 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% working interest in the 103,430 hectare (399 square mile) Salar del Diablo lithium brine project located in the State of Baja California Norte, Mexico.
On behalf of the Board of Directors of One World Lithium Inc.,
President and Chief Executive Officer
Forward-Looking Information: This press release may include forward looking information within the meaning of Canadian securities legislation concerning the business of the OWL. 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 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, 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 and (II) 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.
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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.