VANCOUVER, BC – TheNewswire - May 02, 2022 - One World Lithium Inc. (OTC:OWRDF) (CSE:OWLI) (CSE:OWLI) (the "Company" or "OWL"), announces that due to the recent poor drilling results on its Salar del Diablo Property (the "Property") located in the State of Baja California, Mexico (For additional details see Company's press Release dated January 4, 2022) the Company has terminated its Letter of Intent with Energy Metals Discover Group ("EMDG"). Under the Termination Agreements with EMDG the Company has conveyed all of its right, title and earned interest in the Property. All the Parties agreed to release each other from any and all claims that they may have against each other to date and the Company would have no further rights title and earned interest in the Property.
As well, the Company has terminated its Share Purchase Agreement with Stand Up Investments Ltd. ("SUI") and a Third Party. Under this Termination Agreement all Parties have agreed to release each other from any and all claims that they may have against each other and the Company has no further payments or share issuances to the former and original shareholders except a $25,000 termination fee that is due no later than December 31, 2022, by way of a Promissory note bearing simple six (6) percent interest dated April 29, 2021.
About One World Lithium Inc.
One World Lithium Inc. remains focused on properties of merit that may contain lithium carbonate in a brine. The Company is also focused on commercial application of the DOE's separation technology. OWL intends to license or joint venture its technology to current and future lithium carbonate producers. 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 1-604-564-2017 Extension-3.
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 any statements regarding beliefs, plans, expectations or intentions regarding the future, including, but not limited to: the intention of OWL to proceed with the advancement of lithium properties and the DOE's new critical separation 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. Forward looking statements contained in this press release are made as of the date of this press release. OWL disclaims any intent or obligation to update publicly any forward-looking information, whether as a result of new information, future events or results or otherwise, other than as required by applicable securities laws. 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. Accordingly, important factors that could cause actual results to differ materially from the Company's expectations including, but not limited to: (I) OWL's inability to execute its business plan and raise the required financing; (II) OWL's inability to prove-up and commercialize the NETL patent and separation technology; (III) risks and market fluctuations common to the mining industry and lithium sector in particular; (IV) advancement in new separation technologies; and (v) other risks outside the direct control of OWL. The novel strain of coronavirus, COVID-19, and continuing conflict between Russian and the Ukraine also poses continuing risks that are currently indescribable and immeasurable. The reader is cautioned that assumptions used in the preparation of any forward-looking information may prove to be incorrect and is advised 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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