One World Lithium Announces Engagement of European Consultant
VANCOUVER, May 05, 2021 - One World Lithium Inc. (CNSX:OWLI.CN) (OTC:OWRDF) (the "Company") ("OWL") The Company is pleased to announce it has signed a consulting agreement with FnMedia AG (the "Consultant") on May 04, 2021. FnMedia will consult on business development in Europe that may include individual introductions and corporate presentations. The Consultant will also expand its knowledge by including Alphabullz, a subsidiary group that is well established in both Europe and Asia. Alphabullz is familiar with the lithium industry and in particular exploration and development of lithium-brine salars and technologies that separate lithium carbonate from a brine. The Agreement is for one year to May 04, 2022. The Consultant will be paid a monthly fee of 5,000 Euros ($7,400 CAD) and an option to purchase up to 800,000 common shares of the Company at an exercise price of $0.11 per common share, being the closing price of the Company's common shares on the Canadian Stock Exchange on May 4, 2021. The stock options are exercisable on or before May 04, 2023 and will be vested as to 200,000 options every two months from June 01 to December 01, 2021. All Stock Options were granted in accordance with the Company's stock option plan.
The Consultant believes the timing is right to review junior lithium companies that have promise in lithium-brine prospects as well as technologies that may separate lithium carbonate from a brine.
As previously reported on May 04, 2021, if OWL's current non brokered private placement offering is fully subscribed for $2,000,000, then the Company intends to spend approximately $750,000 on both further exploration on its lithium- brine property and the advancement of a critical fluid separation technology with the remaining $ 500,000 in working capital.
Doug Fulcher, President and CEO stated "Our Company is pleased to be consulting with FnMedia and Alphabullz this year and in particular their experience in both Europe and Asia. It is ideal timing as our Company is preparing for a successful year in exploring for lithium-brine prospects but also possibly being at the forefront of lithium separation technologies."
The Company also announces that it has granted incentive stock options to another consultant of the Company to purchase up to an aggregate of 400,000 common shares of the Company. The Stock Options are fully vested and exercisable on or before May 05, 2023, at a price of $0.11 per share, being the closing price of the Company's common shares on the Canadian Stock Exchange on May 4, 2021. All Stock Options were granted in accordance with the Company's stock option plan.
About One World Lithium Inc.
One World Lithium Inc. is an exploration company focused on lithium in brine projects and new lithium separation technologies. OWL has the right to own 100% of the separation technology, subject to a positive proof of concept program. OWL has earned a 60% property interest in the Salar del Diablo property. On completing the Phase three 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 info@oneworldlithium.com
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 intention of OWL to proceed with the advancement of the property or with the advancement of the 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 information, 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 (IV) risks and market fluctuations common to the mining industry and lithium sector in particular and (V) advancements in new separation 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 of 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.