One World closes $765,221 first tranche of financing

Nov 4, 2021

2021-11-04 10:22 ET – News Release


Mr. Douglas Fulcher reports


One World Lithium Inc. has closed a first tranche of its non-brokered private placement of up to 30,000,000 units at a price of six cents per unit for gross proceeds of up to $1,800,000 that may close in one or more tranches. Each unit consists of one common share of the company (a ” common share “) and one full non-transferable common share purchase warrant. Each warrant will entitle the holder to purchase one common share at a price of 12 cents 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 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 subscribers on a pro rata basis based on the number of units subscribed for. Insiders may participate in the offering.

In addition to the existing security holder exemption, a portion or all the offering may be completed pursuant to multilateral CSA notice 45-318 prospectus exemption for certain distributions through an investment dealer (“CSA 45-318”) and the corresponding blanket orders and rule implementing CSA 45- 318 in the participating jurisdictions in respect thereof (collectively with CSA 45-318, the “investment dealer exemption”). As at the date hereof, the Investment Dealer Exemption is available in each of Alberta, British Columbia, Saskatchewan, Manitoba and New Brunswick. Pursuant to CSA 45-318, each subscriber relying on the Investment Dealer Exemption must obtain advice regarding the suitability of the investment from a registered investment dealer.

There is no material fact or material change of the company that has not been disclosed.

In addition to conducting the offering pursuant to the Existing Security Holder Exemption and the Investment Dealer Exemption, the offering will also be conducted pursuant to other available prospectus exemptions.

Drilling Update

As previously announced on October 19, 2021, borehole samples from DDH-1, 2, 3 & 4 were sent to the ALS preparation laboratory in Hermosillo, Mexico. Subsequently, the samples were sent to ALS laboratory In Vancouver BC for assaying and the assay results will then be sent to the Operator, Montgomery & Associates for interpretation and recommendations. The results and recommendations will all be released on receipt that are expected during the month of December 2021.

Doug Fulcher, President and CEO noted “Our company remains focused on lithium brine prospects and critical lithium separation technologies. The proceeds from this closing will allow the company to advance both initiatives”.

About One World Lithium Inc.

One World Lithium Inc. is an exploration and development company focused on lithium in brine projects and new lithium separation technologies. It currently has earned a 60% property interest in the Salar del Diablo property. On completing the southern drill program, OWL will earn an additional 20% property interest and has an option to purchase a further 10% property interest for a total of a 90% property interest in the 103,450 hectare (399 square mile) Salar del Diablo Lithium Brine project located in the State of Baja California, Mexico.

We seek Safe Harbor.

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