One World Lithium Announces C$1.5 Million Private Placement

About this update from One World Lithium, Inc.

[{"type":"text","content":"VANCOUVER, BC - TheNewswire - September 25, 2020 - One World Lithium Inc. - (OTC:OWRDF) (CSE:OWLI) (CNSX:OWLI.CN) (the \"Company\") (\"OWL\") today is pleased to announce a non-brokered private placement up to 30,000,000 units (the \"Units\") at a price of $0.05 per Unit for gross proceeds of up to $1,500,000 (the \"Offering\"). All funds are stated in Canadian dollars. Each Unit will consist 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 of each respective tranche in the Offering. All Securities are subject to a four month and one day hold period from the respective closing dates and eligible finder fee may be paid in connection with the Offering. There are no minimum number of Units or minimum aggregate proceeds required to close the Offering and the Company may, at its discretion, elect to close the Offering in one or more closings. Management anticipates that the Company will allocate the net proceeds of the Offering as follows: Salar del Diablo Lithium Property southern drilling program $700,000, possible expansion of the southern drilling program $400,000 and the balance for working capital. The Company may pay a finder's fee on the Offering. Closing of the Offering is subject to a number of conditions, including receipt of all necessary corporate and regulatory approvals. All securities issued in connection with the Offering will be subject to a statutory hold period of four months plus a day from each closing of the Offering in accordance with applicable securities legislation. The closing of subsequent tranches of the Offering may be completed pursuant to Multilateral CSA Notice 45-313 - Prospectus Exemption for Distributions to Existing Security Holders (\"CSA 45-313\") and the corresponding blanket orders and rules implementing CSA 45-313 in the participating jurisdictions in respect thereof (collectively with CSA 45-313, the \"Existing Security Holder Exemption\"). As at the date hereof, the Existing Security Holder Exemption is available in each of the provinces of Canada, with the exception of Newfoundland and Labrador. Subject to ...

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