One World Lithium Announces Private Placement & Stock Option Grants

About this update from One World Lithium, Inc.

[{"type":"text","content":"Vancouver, BC - TheNewswire - September 6, 2023 - One World Lithium Inc. (CSE:OWLI) (OTC:OWRDF) (the “Company” or “OWL”) today announces a 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 with (the “Offering”). All funds are stated in Canadian dollars. 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. 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. Management anticipates that the Company will allocate the net proceeds of the Offering as follows: continued property expansion costs of approximately $75,000; on going lab testing of the Company’s Critical Fluid Separation Technology costs of approximately $375,000; and the balance for working capital. The Company may pay a finder’s fee in connection with 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 the closing of the Offering in accordance with applicable securities legislation. A portion or all 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...

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