One World Lithium Inc (OTCQB:OWRDF) (CSE:OWLI) has closed a portion of its private placement to raise funds for a drilling program at its Salar del Diablo lithium brine project in the State of Baja California Norte, Mexico.
The Vancouver-based company raised just over C$336,000 by issuing 6,720,500 units priced at C$0.05 per unit, it said in a statement Tuesday.
READ: One World Lithium details plans to resume drilling at Salar del Diablo lithium project in Mexico
Each unit consists of one share and one whole warrant exercisable at C$0.10 per share for a 36-month period following the closing date.
OWL currently has earned a 60% property interest with an option to acquire a further 30% property interest for a total of a 90% working interest in the 103,430 hectare Salar del Diablo project.
A portion of the funds will also go towards working capital.
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