One World Lithium Announces First Tranche Closing of Private Placement

About this update from One World Lithium, Inc.

[{"type":"text","content":"Vancouver, BC - TheNewswire - September 14, 2023 - One World Lithium Inc. (CSE:OWLI) (OTC:OWRDF) (the “Company” or “OWL”) announces that is has closed a first tranche of its non-brokered private placement up to 15,000,000 units (each, a “Unit”) of the Company at a price of $0.05 per Unit for gross proceeds of up to $750,000 that may close in one or more tranches. (the “Offering”). 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 $0.08 for a period of 36 months from the closing of the Offering. All funds are stated in Canadian dollars. On the first tranche closing the Company issued 2,496,000 Units for gross proceeds of $124,800. The net proceeds are intended to be used primarily for funding working capital. There is 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. 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 applicable securities laws, the Company will permit each person or company who, as of September 6, 2023 (being the record date set by the Company pursuant to CSA 45-313), who holds Common Shares as of that date to subscribe for the Units that will be distributed pursuant to the Offering, provided that the Existing Security Holder Exemption is available to such person or company. Qualifying shareholders who wish to participate in the Offering should contact the Company at the contact information set forth below. In the event that aggregate subscriptions for Units under the Offering exceed the maximum number of securities to be distributed, then Units will be sold to qualifying subscribe...

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