22:38:05 EDT Thu 28 Mar 2024
Enter Symbol
or Name
USA
CA



One World Lithium Inc
Symbol OWLI
Shares Issued 52,761,383
Close 2018-03-22 C$ 0.15
Market Cap C$ 7,914,207
Recent Sedar Documents

One World Lithium closes $1.02M portion of financing

2018-03-23 10:17 ET - News Release

Mr. Douglas Fulcher reports

ONE WORLD LITHIUM ANNOUNCES PARTIAL CLOSE OF PRIVATE PLACEMENT AND REPORTS ON THE SALAR DEL DIABLO LITHIUM EXPLORATION PROGRAMS

One World Lithium Inc. has closed a portion of its private placement that was previously announced on Nov. 9, 2017. The company has raised to date $1,028,650 through the issuance of 6,857,667 units at a price of 15 cents per unit. Each unit will consist of one common share in the capital of the company and one non-transferable common share purchase warrant. Each warrant will entitle the holder thereof to acquire one additional share, at a price of 20 cents per warrant share for a period of 24 months from the partial closing date of the offering. All securities are subject to a four-month-and-one-day hold from the closing date.

The Canadian Securities Exchange has granted an extension for the close of the private placement to May 8, 2018.

Use of proceeds

The net proceeds will be used primarily for financing the Salar Del Diablo exploration programs as well as for corporate purposes and working capital.

Exploration programs

Regarding the predrilling exploration programs on the Salar Del Diablo lithium property, the time domain electromagnetic survey has been expanded to 79.5 kilometres to cover a larger portion of the property. The survey is expected to be completed before the end of March, 2018. Subsequently there will be a gravity survey. The geochemical surface sampling program has been completed with 67 samples taken by an auger.

After analyzing the geochemical and geophysical results, the company intends to drill test any resulting targets with a planned 4,000-metre (13,000-foot) reverse circulation drilling program in May, 2018.

John Hiner, SME (small and medium enterprise) registered and a qualified person as defined by National Instrument 43-101, has reviewed and approved the scientific and technical disclosure contained in this release.

Stock options

The company has granted incentive stock options to two consultants of the company to purchase up to 800,000 common shares of the company at a price of 20 cents per common share. The stock options are exercisable on or before March 23, 2020, and are fully vested.

About One World Lithium Inc.

One World Lithium is an exploration and development company. The company has an option to acquire a 90-per-cent interest in the 75,400-hectare Salar Del Diablo property.

We seek Safe Harbor.

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