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One World Lithium Announces Closing of Non-Brokered Private Placement
VANCOUVER, BC - TheNewswire – December 08, 2021 - One World Lithium Inc. (CSE:OWLI) (OTC:OWRDF) (the “Company”) (“OWL”) is pleased to announce it has closed a s
About this update from One World Lithium, Inc.
[{"type":"text","content":"VANCOUVER, BC - TheNewswire – December 08, 2021 - One World Lithium Inc. (CSE:OWLI) (OTC:OWRDF) (the “Company”) (“OWL”) is pleased to announce it has closed a second and final tranche of its previously announced non-brokered private placement of up to 30,000,000 units (each, a “Unit”) at a price of $0.06 per Unit for gross proceeds of up to $1,800,000. (the “Offering”). On the second tranche closing the Company issued 17,350,843 Units for gross proceeds of $1,041,050.60. Including the proceeds from the first tranche, the Company has raised $1,807,271.20 under the Offering. The Offering has been oversubscribed. Each Unit consists of one common share of the Company (a “Common Share”) and one full non-transferable Common Share purchase warrant (each whole warrant, a “Warrant”). Each Warrant will entitle the holder to purchase one Common Share at a price of $0.12 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 the additional diamond drilling and exploration on its Salar del Diablo Lithium Brine Property, advancement of its potential lithium separation technology and the balance for working capital. The Company also announces that is has granted incentive stock options to a consultant of the Company to purchase up to an aggregate of 750,000 common shares of the Company at an exercise price of $0.09 per common share, being the closing price the closing price of the Company’s common shares on the Canadian Stock Exchange on December 07, 2021. The stock options are exercisable on or before December 06, 2024, with 375,000 vesting on February 08, 2022 and 375,000 vesting on May 08, 2022. The options were granted in accordance with the Company’s Stock Option Plan. In addition, the Company also announces that effective on December 08, 2021 the Company will amend the expiry date (the “Amendment”) of an aggregate of 4,292,000 outstanding common share purchase warrants (the “Warrants”) that are currently exercisable to acquire common shares of the Company at a price of $0.10 until December 23, 2021. Under the Amendment, the term of the Warrants will be extended by an additional twelve months (12) such that they will now be exercisable until December 23, 2022. All other Warrant terms remain th...