Business
One World Lithium Drilling Report, Executive Appointment and Lithium Extraction Technology
Vancouver, BC - TheNewswire - February 13, 2020 - One World Lithium Inc. (OTC:OWRDF) (CSE:OWLI) (CNSX:OWLI.CN) (the "Company" or "OWL") reports it has applied f
About this update from One World Lithium, Inc.
[{"type":"text","content":"Vancouver, BC - TheNewswire - February 13, 2020 - One World Lithium Inc. (OTC:OWRDF) (CSE:OWLI) (CNSX:OWLI.CN) (the \"Company\" or \"OWL\") reports it has applied for a drilling permit and expects approval in the next several days. Layne Drilling is moving a rig to DDH-3's (DDH means diamond drill hole) location that is 50 kilometers south of DDH-2. The rig is a skid mounted 4 by 4 all-terrain rig that is capable of drilling to a depth of 1,000 meters. Two drill crews will allow 24/7 drilling. Lithium Extraction Technology OWL is working with a technology development company to test a new process to extract lithium from a brine stream. The tests will be conducted at the University of Alberta under the direction of Dr. Rajender Gupta. The process employs a solvent to extract lithium from a brine stream at near zero GHG emissions (greenhouse gases). The testing phase may take up to three months. An exclusive license agreement will be signed with OWL on the completion of testing the new extraction technology. Appointment of Vice President, Corporate Development and Granting of Stock Options Mathieu McDonald joins OWL as Vice President, Corporate Development. Mr. McDonald brings 25 years of capital markets experience, serving in a variety of positions including corporate communications, retail and institutional sales as well as asset management at several large national firms. He has extensive experience in venture capital markets and has raised considerable funds for start-up companies. Mr. McDonald has a Bachelor of Commerce Degree specialising in finance from the University of Alberta. The Company has granted Mr. McDonald incentive stock options to purchase up to 500,000 common shares in the Company at a price of $0.10 per share. The stock options are exercisable on or before February 12, 2022 with 125,000 vesting on June 12, 2020, 125,000 vesting on September 12, 2020, 125,000 vesting on December 12, 2020 and the balance vesting on March 12, 2021. The Company also announces it has granted incentive stock options to a consultant of the Company to purchase up to 200,000 common shares in the Company at a price of $0.10 per share. The stock options are exercisable on or before February 12, 2021 and are fully vested. About One World Lithium Inc. One World Lithium Inc. is an exploration company focused on lithium in brine projects. It...