NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES
Vancouver, BC, June 29, 2018 – One World Lithium Inc. (CSE:OWLI) (the “Company”) today announces that the previous non-brokered private placement it announced on May 25, 2018 will be replaced with a non-brokered private placement of up to 13,333,334 units (the “Units”) at a price of $0.15 per Unit for gross proceeds of up to $2,000,000 (the “Offering”). All funds are stated in Canadian dollars.
Each Unit will consist of one common share of the Company (a “Common Share”) and one-half of a non-transferable Common Share purchase warrant (each whole warrant, a “Warrant”). Each Warrant will entitle the holder thereof to purchase one Common Share at a price of $0.20 for a period of 24 months from the closing of the Offering.
There is no minimum number of Units or minimum aggregate proceeds required to close the Offering and the Company may, at its discretion, elect to close the Offering in one or more closings. Management anticipates that the Company will allocate the net proceeds of the Offering as follows: Salar del Diablo Lithium Property drilling program $400,000; testing $ 350,000; feasibility report $ 500,000; Salar del Diablo Lithium Property southern region pre-drilling program $450,000 and $300,000 for working capital.
The Company may pay a finder’s fee on the Offering. Closing of the Offering is subject to a number of conditions, including receipt of all necessary corporate and regulatory approvals. All securities issued in connection with the Offering will be subject to a statutory hold period of four months plus a day from the closing of the Offering in accordance with applicable securities legislation.
The May 25, 2018, non-brokered private placement was up to 10,000,000 units at a price of $0.20 per Unit for gross proceeds of up to $2,000,000. Each unit consisted of one common share and one-half of a non-transferable common share purchase warrant. Each Warrant entitled the holder thereof to purchase one common share at a price of $0.25 for a period of 24 months from the closing of the Offering.
A portion or all 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 June 29, 2018 (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.
None of the securities issued in connection with the Offering will be registered under the United States Securities Act of 1933, as amended (the “1933 Act”), and none of them may be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the 1933 Act. This news release shall not constitute an offer to sell or a solicitation of an offer to buy nor shall there by any sale of the securities in any state where such offer, solicitation, or sale would be unlawful.
About One World Lithium Inc.
One World Lithium Inc., an exploration Company, is focused on exploring and developing lithium projects of merit. It has an option to acquire up to a 90% working interest in the 75,400 hectares (754 square kilometers) Salar del Diablo Property located in Baja California Notre, Mexico.
On behalf of the Board of Directors of One World Lithium Inc.,
Douglas Fulcher, CEO and President
For further information, please contact email@example.com or visit the Company’s web site at
This press release contains forward-looking statements that involve various risks and uncertainties regarding future events. Such forward-looking statements can include without limitation statements based on current expectations involving a number of risks and uncertainties and are not guarantees of future performance of the Company, such as statements about the Offering, including the anticipated allocation of the net proceeds of the Offering and the anticipated payment of the finder’s fee. There are numerous risks and uncertainties that could cause actual results and the Company’s plans and objectives to differ materially from those expressed in the forward-looking statements, including: (i) adverse market conditions; or (ii) the inability of the Company to complete the Offering at all or on the terms announced. Actual results and future events could differ materially from those anticipated in such information. These and all subsequent written and oral forward-looking statements are based on estimates and opinions of management on the dates they are made and are expressly qualified in their entirety by this notice. Except as required by law, the Company does not intend to update these forward-looking statements.
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.