One World Lithium Inc. (CSE:OWLI, OTCQB:OWRDF) announced a non-brokered private placement for gross proceeds up to C$750,000 by offering up to 15 million units at a price of $0.05 per unit.
Management said it anticipates about C$75,000 of the net proceeds of the offering will be used for continued property expansion; C$375,000 for lab testing of its Critical Fluid Separation Technology; and the balance for working capital.
Each unit offered will consist of one common share and one non-transferable common share purchase warrant entitling the holder to purchase a common share for a price of C$0.08 for a period of 36 months from the closing of the offering.
One World Lithium said it may pay a finder’s fee in relation to the offering.
Additionally, One World Lithium said it has granted incentive stock options to three consultants of the company to purchase up to an aggregate of 800,0000 shares.
The options are exercisable on or before September 6, 2025, at a price of C$0.05 per share.
One World Lithium is focused on properties of merit that may contain lithium in brine and the commercial application of its separation technology.
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