One World Lithium Inc announced it has closed its previously announced oversubscribed non-brokered private placement, issuing 14,581,220 units and raising gross proceeds of $729,061.
The offering was oversubscribed by 22%, OWL said in a statement.
As reported previously, the placing was for to 12 million units at a price of $0.05 each for gross proceeds of up to $600,000.
READ: One World Lithium announces non-brokered private placement to raise up to C$600,000
Proceeds from the offering will be used primarily for ongoing lab testing of OWL’s Critical Fluid Separation Technology, continued property expansion and the balance for working capital.
Each unit consists of one share of the company and one full warrant exercisable at $0.08 for a period of 36 months from the closing of the offering.
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