One World Lithium Begins Bench Test on its Lithium Carbonation Extraction Technology and Grants Stock Options
VANCOUVER, October 23, 2023 - One World Lithium Inc. (CSE:OWLI) (OTC:OWRDF) (the "Company" or "OWL") is pleased to announce following the entering into a Definitive Agreement with MatterGreen LLC ("MG") on September 27, 2023, MG has started the initial phase of the Company's research & development project on its lithium carbonation extraction technology which is a bench test on lithium carbonation that can be used as a proof of concept of the novel advanced carbonation technology to selectively extract lithium from natural brines. The formation of lithium carbonate (precipitate) will be graphically presented to show formation caused by the Company's latest advanced carbonation technique. The bench test proof of concept demonstration should be completed within 4 to 6 weeks.
Jack Lifton, a senior consultant in chemical processing technology, and an Advisor to the Company notes: "Using the data and photos of the lithium carbonate crystalline precipitates formed in the brine the Company plans to license or sell the use of the technology to industry producers of lithium carbonate and, in particular, to end users, the manufactures of EVs."
STOCK OPTION GRANTS
In addition, the Company also announces that is has granted incentive stock options to certain consultants and an advisor of the Company to purchase up to an aggregate of 2,000,000 common shares of the Company (the "Options"). The Options are exercisable on or before October 23, 2025, at a price of $0.05 per common share, being the minimum allowed closing price of the Company's common shares on the Canadian Stock Exchange on October 20, 2023. All Options are fully vested and were granted in accordance with the Company's Stock Option Plan.
About One World Lithium Inc.
One World Lithium Inc. remains focused on properties of merit that may contain lithium in a brine. The Company is also focused on commercial application of its Direct Lithium Extraction Technology. OWL intends to license or joint venture its technology to current and future lithium carbonate producers and consumers. For more information, visit: https://oneworldlithium.com.
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 1-888-280-8128
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, but not limited to: (I) the ability of the OWL & MG to further its R&D, from the bench test to change the lithium extraction industry, and (II) OWL's abilities to commercialize its Direct Lithium Extraction ("DLE") 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. 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 commercialize its DLE technology (II) OWL's inability to execute its business plan and raise any required financing, (III) risks and market fluctuations common to the mining industry and lithium sector in particular, and (IV) advancements in other 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.
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