One World Lithium Inc (OTCQB:OWRDF) (CSE:OWLI), an exploration company with operations in Mexico, announced a non-brokered private placement worth up to C$1 million.
The company is offering up to 20 million units — each containing one common share and one share purchase warrant — at a price of C$0.05 per unit. A warrant entitles its holder to acquire an additional common share at a price of C$0.10 for three years following the closing date.
One World Lithium expects to put C$700,000 of the proceeds toward its Salar del Diablo lithium property drilling program and use the remainder for working capital purposes.
Additionally, the company said that because of the coronavirus (COVID-19) pandemic, the British Columbia Securities Commission has granted a 45-day extension for periodic filings. The company plans to file its annual financial statements for fiscal 2019 on June 14, 2020.
Lastly, One World Lithium renewed its investor relations agreement with Kaye Wynn Consulting Inc for another year, The company will pay C$4,000 per month and grant Kaye Winn the option to purchase up to 400,000 shares of the company at an exercise price of C$0.10 per share.
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