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One World Lithium Announces Second Tranche Closing of its Non-Brokered Private Placement, Stock Option Grants and Updates
VANCOUVER, BC – TheNewswire - November 13, 2024 - One World Lithium Inc. (CSE-OWLI) (OTCQB-OWRDF) (the “Company” or “OWL”) is pleased to announce further to its
About this update from One World Lithium, Inc.
[{"type":"text","content":"VANCOUVER, BC – TheNewswire - November 13, 2024 - One World Lithium Inc. (CSE-OWLI) (OTCQB-OWRDF) (the “Company” or “OWL”) is pleased to announce further to its August 14, 2024 , news release it has closed a second and final tranche of its previously announced non-brokered private placement of up to 16,666,666 units (each, a “Unit”) at a price of $0.03 per Unit for gross proceeds of up to $500,000. (the “Offering”). On the second tranche closing the Company issued 6,335,166 Units for gross proceeds of $190,055. Including the proceeds from the first tranche, the Company has raised $467,010 under the Offering. All securities issued are subject to a four (4) month and one day hold period, from the closing of the Offering in accordance with applicable securities laws and the policies of the Canadian Securities Exchange. Each Unit of the Offering consisted 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 $0.06 for a period of 36 months from the closing of the Offering. All funds are stated in Canadian dollars. Use of Proceeds Proceeds from this final tranche of the financing will be used to complete the assignment of two separate patent applications for Lithium Recovery that is a Direct Lithium-Carbonate Extraction Technology (together, the “OWL Patent Applications”) from MatterGreen LLC (“MG”), an arm’s length Oregon limited liability company as in accordance with the terms of the Assignment and License Agreement (the “Definitive Agreement”) with MG dated for reference September 27, 2023. The OWL Patent Applications are for natural brine and for slurries made from pegmatite, clay, volcanic rock and sediment. For the assignment OWL will issue to MG one million common shares of the Company. Following the assignment, OWL will be the sole and exclusive owner of the OWL Patent Applications. In addition, OWL will continue to fund MG to conduct and manage the development, testing and, R&D laboratory work in MG’s lab facilities in Albany, Oregon, USA associated with the commercialization of the OWL Patent Applications along with the US Department of Energy Patents tiltled Selective Lithium Recovery as Lithium Carbonate from natural brines (see News rele...