Vancouver, British Columbia--(Newsfile Corp. - March 1, 2016) - One World Investments Inc. (TSXV: OWI.H) (the "Company") today announces a non-brokered private placement of unsecured convertible notes (the "Convertible Note") in the aggregate principal amount of up to $400,000.
The Principal Amount of the Convertible Note will bear interest at 8% per annum, and any accrued but unpaid interest, will mature on the date that is one (1) year following the Closing Date (the "Maturity Date"). Each Convertible Note will be convertible into common shares (each, a "Share") of the Company at a price of $0.05 per Share and any accrued but unpaid interest thereon will be convertible into Shares at the price per Share which is the greater of (i) $0.05 and (ii) the Market Price (as defined in the policies of the TSX Venture Exchange (the "Exchange")) on the date of a conversion notice.
In connection with the private placement, the Company may, subject to regulatory acceptance, pay a finder's fee to certain arm's-length parties on the proceeds raised. It has yet to be determined if any insiders will be participating in the offering.
The securities issued will be subject to a 4 month one day hold period from the date of issue of, as the case may be, the Convertible Notes, or the Shares. The completion of the private placement and payment of any commission and fees remains subject to the receipt of all necessary approvals, including the approval of the Exchange. Proceeds of the Private Placement will be used for working capital.
The Company continues its pursuit of a viable property of merit in conjunction with a financing to support the exploration or development of such a property, and will provide updates, if any, in due course.
On behalf of the Board of Directors of One World Investments Inc.
Douglas Fulcher, CEO and President
"Douglas Fulcher"
For additional information contact:
Douglas Fulcher, CEO and President
Direct: 604.803.5901
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward-Looking Information: This press release may include forward-looking information within the meaning of Canadian securities legislation, concerning the business of the Company. Forward-looking information is based on certain key expectations and assumptions made by the management of the Company, including future plans for the Company's corporate direction. Although the Company 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 the Company 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. The Company 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.
Forward-looking statements are often identified by terms such as "will", "may", "should", "anticipate", "expects" and similar expressions. All statements other than statements of historical fact, included in this release are forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company's expectations include the failure to satisfy the conditions of the Canadian Securities Exchange, consumer sentiment towards the Company's products, technology failures, competition, and failure of counterparties to perform their contractual obligations.
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, many of which are beyond the control of the Company. The reader is cautioned not to place undue reliance on any forward-looking information contained in this news release.
