One World Announces Closing of over-Subscribed Non-Brokered Private Placement
Suite 615 – 800 West Pender Street, Vancouver, B.C. Canada, V6C 2V6 Telephone: 1-604-564-2017
www.oneworldlithium.com
ONE WORLD
LITHIUM
ONE WORLD LITHIUM ANNOUNCES
CLOSING OF OVERSUBSCRIBED NON-BROKERED PRIVATE PLACEMENT
VANCOUVER, BC – March 02, 2021 - One World Lithium Inc. (CSE-OWLI) (OTCQB-OWRDF) (the “Company”)
(“OWL”) today is pleased to announce it has closed its previously announced $1,500,000 non-brokered private
placement for gross proceeds of $2,251,110.50. The private placement closed with the issuance of
45,022,210 units (“ Units”) priced at $0.05 per Unit (the “ Offering”). The private placement has been
oversubscribed, resulting in the issuance of an additional 15,022,210 Units for $751,110.50. All funds are stated
in Canadian dollars.
Each Unit consist of one common share (a “ Common Share ”) and one non -transferable common share
purchase warrant (a “Warrant”) (collectively the “Securities”). Each Warrant will entitle the holder thereof to
acquire one common share, at a price of $0.10 per common share for a period of 36 months from the closing
date of the Offering. All Securities are subject to a four month and one day hold period from the closing date.
The net proceeds of the Offering will be used primarily for the Salar del Diablo Lithium Brine Property southern
drilling program , advancement of its potential lithium separation technology and the balance for working
capital.
Douglas Fulcher, CEO and director of the Company commented, “Closing the Private Placement is a milestone
for the Company to fund an aggressive exploration program at its Salar del Diablo Lithium Brine Project as well
as advancing the potential for a critical fluid separation technology”. In addition, he noted “We appreciate our
shareholder’s confidence.”
The Company has received binding commitments for participation in the Offering from members of the
Company’s board of directors including the extended management team in the aggregate of $30,000 or
600,000 Units. Accordingly, the Offering constitutes a "related party transaction" as such term is defined in
Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions ("MI 61-101"),
which requires that the Company, in the absence of exemptions, obtain a formal valuation for, and minority
shareholder approval of, the related party transaction. The Offering will be exempt from the valuation and the
minority shareholder approval requirements of MI 61 -101 by virtue of the exemptions contained in section
5.5(a) and 5.7(1)(a), respectively, as neither the fair market value of the consideration for the Units nor the
value of the Unit s issuable to "related parties" is more than 25% of the Company's market capitalization. As
the material change report relating to the completion of the Offering will be filed on SEDAR less than 21 days
before the completion of the Offering, there is a re quirement under MI 61 –101 to explain why the shorter
period is reasonable or necessary in the circumstances. In the view of the Company, such shorter period is
reasonable and necessary in the circumstances because the subscribers of the Company wished to c omplete
the Offering in a timely manner.
The Company also announces that is has granted incentive stock options to certain of its directors, officers,
management and consultants of the Company to purchase up to an aggregate of 4,900,000 common shares of
the Company (the “Options”). The Options are exercisable on or before March 01, 2023, at a price $0.13 per
common share, being the closing price of the Company’s common shares on the Canadian Stock Exchange on
March 01, 2021. All Options were granted in accordance with the Company’s Stock Option Plan.
Suite 615 – 800 West Pender Street, Vancouver, B.C. Canada, V6C 2V6 Telephone: 1-604-564-2017
www.oneworldlithium.com
ONE WORLD
LITHIUM
This news release does not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be
any sale of these securities, in any jurisdiction in which such offer, solicitation or sale would be unlawful prior
to registration or qualification under the securities laws of such jurisdiction. The securities have not been and
will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”), or
any state securities laws, and may not be offered or sold within the United States or to, or for the account or
benefit of, U.S. Persons (as defined in Regulation S under the U.S. Securities Act) unless an exemption from
such registration is available.
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.
On behalf of the Board of Directors of One World Lithium Inc.,
“Douglas Fulcher”
President and Chief Executive Officer
For further information please visit www.oneworldlithium.com or email [email protected]
or call 1-604-564-2017 Extension-3.
Forward-Looking Information: This press release may include forward looking information within the meaning of Canadian securities legislation. Forward
looking information is based on certain key expectations and assumptions made by the management of the OWL, including the int ention of OWL to
proceed with the advancement of the Property and the new critical separation technology. Although OWL believes that the expectations and assumptions
on which such forward looking information is based are reasonable, undue reliance should not be placed on the forward -looking information because
OWL can give no assurance that they will prove to be correct. Forward looking statements contained in this press release are made as of the date of this
press release. OWL disclaims any intent or obligation to update publically any forward -looking information, whether as a result of new inform ation,
future events or results or otherwise, other than as required by applicable securities laws. There can be no assurance that such statements will prove to
be accurate and actual results and future events could differ materially from the those anticipated in such statements, important factors that could cause
actual results to differ materially from the company’s expectations include: (I) inability of OWL to execute its business plan and raise the required financing
(II) accuracy of mineral or resource exploration activity (III) continued access to mineral property and (IV) risks and market fluctuations common to the
mining industry and lithium sector in particular (V) advancement in new technologies. The reader is cautioned that assumptions used in the preparation
of any forward-looking information may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted,
as a result of numerous known and unknown risks, uncertainties, and other factors, some o f which are beyond the control of the OWL. The reader is
cautioned not to place undue reliance on any forward-looking information contained in this press release.
Neither the Canadian Securities Exchange nor its Market Regulator (as that term is defined in the policies of the Canadian Securities Exchange) accepts
responsibility for the adequacy or accuracy of this release.