One World Lithium Announces First Tranche Closing of Private Placement And Drilling Update

About this update from One World Lithium, Inc.

[{"type":"text","content":"VANCOUVER, BC - TheNewswire – November 04, 2021 - One World Lithium Inc. (CSE:OWLI) (OTC:OWRDF) (CNSX:OWLI.CN) (the “Company”) (“OWL”) announces that it has closed a first tranche of its 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 that may close in one or more tranches. (the “Offering”). 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. On the first tranche closing the Company issued 12,753,677 Units for gross proceeds of $765,221. The net proceeds are intended to be used primarily for funding the Salar Del Diablo exploration programs as well as for the initial start up for the Company’s separation technology testing and working capital. There is no minimum number of Units or minimum aggregate proceeds required to close the balance of the Offering and the Company may, at its discretion, elect to close the balance of the Offering in one or more tranches. 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 May 4, 2021 (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...

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