VANCOUVER, BC – October 27, 2020 – One World Lithium Inc. (OTCQB-OWRDF) (CSE-OWLI) (the “Company”) (“OWL”) announces that West Peak Ventures of Canada Ltd (“WPV”) has assigned the proof of concept protocols to OWL who will then contract a private laboratory to conduct a proof of concept program from a separation technology thesis. If the results are satisfactory it will have proven a new critical fluid separation technology (the “Technology”) to separate pure lithium and other related elements from a brine solution that may have commercial applications.
The laboratory will have a chemical engineer with known expertise in separation technologies to both manage the program and verify the test results. It is estimating the program will take approximately three months at an estimated cost of CAD $ 100,000. There may be additional testing required that will increase the costs.
OWL will own 100% of the Technology to extract lithium from brine solutions, own patents from the current program and patents in the future for either extension of either the existing patents or the discovery new related technologies.
The parties have agreed to complete a formal agreement if the Technology is proven to have commercial applications. Such an agreement would include cash payments, issuance of common shares and a royalty payment from OWL.
As announced in the news released of October 21, 2020, John Costigan, CEO of Cognitive Corporate Service (“Cognitive”) and Managing Partner of ECMB Capital Partners Inc. (“ECMB”) have in depth knowledge of a variety of technologies including the lithium exploration and development sector. Cognitive will also advise OWL on marketing its products. Cognitive and ECMB have successfully assisted mining, exploration and technology companies in raising over C$200 million over the last several years. John Costigan noted “subject to a proof of concept program, this Technology has the potential to be a game changer for current and future lithium brine producers.”
About One World Lithium Inc.
One World Lithium Inc. is an exploration and development company focused on lithium in brine projects. It currently has earned a 60% property interest with an option to acquire a further 30% property interest for a total of a 90% property interest in the 103,450 hectare (399 square mile) Salar del Diablo lithium brine project located in the State of Baja California, Mexico.
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 [email protected] 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 in this press release includes statements about proving a new critical fluid separation technology to separate pure lithium from brine solutions that may have commercial applications is based on certain key expectations and assumptions made by the management of the OWL, including the intention of OWL to proceed with the 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 publically 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, important factors that could cause actual results to differ materially from the company’s expectations include: (I) inability of OWL to execute its business plan and raise the required financing (II) accuracy of mineral or resource exploration activity (III) continued access to mineral property and (IV) risks, and market fluctuations common to the mining industry and lithium sector in particular (V) advancement in new 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.
Original Article: https://oneworldlithium.com/wp-content/uploads/2020/10/OWL_WPV-Assignment-to-Test-Separation-Technology-NR-FINAL_10-27-2020.pdf
